JOHANNESBURG – The Africa Investment Forum is making phenomenal progress in attracting interest from all over the world since launching at the Sandton Convention Centre last year. The value of boardroom transactions which will be negotiated this year will be considerably higher compared to $43bn in 2018.
A hundred and nine countries are represented at this year’s conference, 61 of which are not African, indicating growing international interest in the annual gathering.
International financiers spoke at Monday morning’s press conference about the need for African countries to work together in order to speed up the continent’s international appeal as a lucrative investment destination.
Afreximbank President Prof. Benedict Oramah expressed concern over the fragmentation of 55 markets on the continent. “Until Africa forms a common platform for an economic and integrated continent, some countries will not survive. All around the world continents are working together. Multilateralism is becoming a challenge and unless the continent comes together we cannot negotiate with bigger economies,” said Oramah.
A growing number of companies attend investment conferences around the world, looking for opportunities. The Africa Investment Forum 2019 has 29 countries that are participating in deals on the table. Last year, the African Development Bank (AfDB.org) invested $18bn in low-income countries and fragile states which many developed economies regard as too risky.