AfDB, Partners Secure $34.8bn Investments For Nigeria, Others- Adesina

The African Development Bank (AfDB) and its partners have declared an investment interest in the continent valued at $34.82bn at the African Investment Forum in Morocco.

The President of the AfDB, Akinwumi Adesina made the announcement at the closing plenary of the African Investment Forum in Marrakesh in Morocco.

The theme for the 2023 edition is, ‘Unlocking Africa’s Value Chain.’

Adesina said, “This year, along with our private partners, we had the participation of institutions such as United Kingdom Export Finance, Multilateral Investment Guarantee Agency, the International Corporation of the World Bank Group, Saudi Arabia Ministry of Investment, United States Trade and Development Agency, the European Bank for Reconstruction and Development, the Japan International Corporation Agency among several others. We are building a formidable powerhouse around investment in Africa.

“To unveil the results of the African Investment Forum 2023 market day, it gives me great pleasure to announce that from your collective efforts, the African Investment Forum 2023 was such an outstanding success. We successfully secured investment interest worth $34.82bn.

Adesina referred to the investment interests as an “incredible achievement in less than 72 hours”.

“These investments are not just about the money, it will deliver transformative impact in the lives of people and that is the bottom line of the African Investment Forum- investing to improve lives,” he added.

Last year, the African Investment Forum attracted an investment interest worth over $31bn from African and global investors.

Since its inception in 2018, the three-day forum has mobilized over $100 billion in investment interests excluding the $34.82bn interest announce by the AfDB president.