THE Africa Investment Forum (AIF) has attracted more than US$180 billion in investment interest in the continent’s critical sectors since its inception in 2018, it has been revealed.
The AIF, multi-stakeholder continental forum, has over the years become a platform that advances projects to bankable stages, raise capital, and push them towards their financial closure.
The forum is an initiative of nine development finance institutions.
These are the African Development Bank (AfDB), Africa50, African Export Import Bank, Development Bank of Southern Africa, Africa Finance Corporation, European Investment Bank, Trade and Development Bank, Islamic Development Bank, and the Arab Bank for Economic Development in Africa.
In a statement at the opening of the three-day AIF Market Days 2024 being held in Rabat, Morocco, on Wednesday, AIF said it was committed to co-leveraging investments and opportunities for the continent’s long-term, sustainable growth.
“Since its founding in 2018, the Africa Investment Forum has attracted more than US$180 billion in investment interest, propelling transformative change across the world’s youngest continent by channelling resources into critical sectors such as energy, infrastructure, healthcare, and agriculture,” AIF said.
“Under the theme ‘Leveraging Innovative Partnerships for Scale’ The 2024 Market Days will galvanise stakeholders to upscale transformative investments across the continent and unlock the vast economic potential of Africa, whose market is projected to reach 2,5 billion people by 2050.”
AIF said one of the standout projects showcased at last year’s AIF edition was a Green Ammonia project in South Africa valued at US$5,7 billion.
It added that this initiative aims to produce approximately 940 000 tonnes of green ammonia by 2028, contributing significantly to renewable energy efforts in the region.
“With robust interest from investors—including major institutions during boardrooms—this project exemplifies the Africa Investment Forum platform’s role in driving impactful investments that promote sustainable growth and innovation across Africa,” AIF said.
“Going back further, in 2022 Maasai Ujiri, President of the Toronto Raptors NBA team and a frequent attendee at Market Days, pitched Zaria Court, a project for a sports and entertainment hub, during the 2022 Africa Investment Forum Market Days.”
Hence, the first Zaria Court is set to open in early 2025 in Kigali.
“Featuring an 80-room boutique hotel, restaurants, a rooftop lounge, wellness spaces, co-working areas, and a podcast studio, the project emphasises community engagement and the reuse of existing buildings,” AIF said.
With the 2024 theme highlighting innovative partnerships, AIF said it was committed to co-leveraging investments and opportunities for the continent’s long-term, sustainable growth.
