African Development Bank to Launch an Africa Investment Forum
The Board of the African Development Bank (AfDB) has approved the institution’s proposal to launch an ‘Africa Investment Forum (AIF)’–a meeting place for investors interested in Africa.
The AIF will showcase bankable projects, attract financing, and provide platforms for investing across multiple countries. It will also serve as a unique forum for international business and social impact investors looking to transact and deploy funds in Africa and act as an avenue for connecting investors with both public and private sector projects throughout the continent.
According to Senior Vice President, Dr. Frannie Leautier: “The AIF will coordinate with other Africa investment fora and work to strengthen collaborative efforts to crowd-in necessary investment, and attract social impact financing to Africa. It will support AfDB regional member countries and potential investors through the provision of rigorous, authoritative and robust, business intelligence and analytical work on African’s competitiveness.”
The creation of the AIF was approved by the Bank’s Board of Directors on 7 October 2016, along with the creation of a Water, Human and Social Development Department; an Infrastructure, Cities, and Urban Development Department; as well as a Syndication, Financial and Technical Services Department. These are refinements to the institution’s new Development and Business Delivery Model (DBDM), which was approved by the AfDB Board of Directors on April 22, 2016. The DBDM aims to streamline business processes to improve efficiency, enhance financial performance; increase development impact, and move the Bank’s operations much closer to its clients so as to improve delivery. The refinements were proposed by the Bank’s Management, which is making great strides in implementing the DBDM.