Africa Investment Forum Secures $34.82 Billion of Investment Interests

Africa Investment Forum Secures $34.82 Billion of Investment Interests

The Africa Investment Forum (AIF) 2023, which took place in Marrakech, Morocco from November 8-10, has achieved considerable success by securing $34.82 billion in investment interests for projects across the continent.

Organised by the African Development Bank (AfDB), the AIF serves as a multi-stakeholder and multi-disciplinary platform aimed at advancing projects to bankable stages, raising capital, and expediting deals to financial closure. Its overarching vision is to direct capital towards critical sectors to achieve the Sustainable Development Goals, AfDB’s High 5s, and the African Union’s Agenda 2063.

Investment opportunities were explored in diverse sectors, including food and agriculture, renewable energy, mining, transport corridors, aviation, deep-water seaports and railways, ICT, digital infrastructure, artificial intelligence, creative industries, and health.

A significant development at the forum was the establishment of the Alliance for Special Agro-Industrial Processing Zones (SAPZ) with an initial commitment of $3 billion from key partners, including the AfDB, the Africa Export-Import Bank (Afreximbank), the United Nations Industrial Development Organisation, and Arise Integrated Industrial Platforms.

The newly secured commitments include $1.1 billion from the African Development Bank Group, $1 billion from Afreximbank, $300 million from the Islamic Development Bank Group, and $600 million from Arise Integrated Industrial Platforms and its partners.