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Wednesday,
August 07, 2019 / 11.00AM / AfDB
The African Development
Bank, AfDB and the African Export-Import Bank (AFREXIM) held a roadshow
in Cairo to launch preparations for the second Africa Investment Forum taking
place in Johannesburg, South Africa, 11 - 13 November 2019. The Africa Investment
Forum aims to raise capital for transformational investment opportunities
across Africa.
Addressing the roadshow,
Dr. Sahar Nasr, Egypt’s minister of investment and international cooperation,
said that the Egyptian investment opportunities presented in the forum were in
line with the political leadership of the country and with its development
plans, which were related to renewable energy, infrastructure and transport
sector. She said Egypt would do its best to ensure successful participation in
this year’s Forum. “The directives of President Abdelfattah Al-Sisi are clear,
supporting the investment environment on the continent and providing financing
for its development. Therefore, we are very proud of Egypt's investments in the
African continent”.
Ibrahim Sagna, director
and global head of advisory and capital markets at Afreximbank, noted that
Africa had witnessed significant trade and investment cooperation over the past
two years. However, the forum was established to encourage a better uptake of
the many unexploited investment opportunities.
Malinne Blomberg, the
Bank’s Egypt country manager, said, “For the forum we want to ensure the highest
quality of projects that will contribute to transforming Africa and Egypt. We
aim for markets to grow and for new markets to emerge”.
Patrick McGee, the
Bank’s lead for investment relations for the Africa Investment Forum, noted
that last year's forum attracted 2,000 participants and investors from dozens
of countries and featured three major Egyptian investment opportunities worth
about $11 billion..
The roadshow was also
attended by Sherif El Gabaly, CEO of Enara Capital, and Pakinam Kafafi, CEO of TAQA
Arabia, who shared their successful experiences at the inaugural forum,
highlighting the networking opportunities it provided.
The objective of the
Africa Investment Forum is to catalyse investments in the continent through a
unique marketplace platform designed to advance projects to bankable stages,
raise capital, and accelerate the financial closure of deals. The forum targets
transactions above $30 million.
Now a true African
platform for investment promotion, the first forum in 2018 secured investment
interest for 49 projects worth $38.7 billion. Last year, 16 identified
projects, valued at $19.45 billion across four North African countries, were
included in the pipeline. The forum now has a digital platform which enables
early access to a database of projects and encourages investors and project
sponsors to begin engaging ahead of the second forum in November 2019.
The Cairo road-show was
also attended by several representatives of the private sector and government
agencies involved in promoting investment and trade in Egypt and across Africa.
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