The inaugural three-day Africa Investment Conference, hosted in Sandton, hopes to encourage new investment growth on the continent.
The conference, which was organised by the Gauteng Provincial Government and the African Development Bank Group, will see business and government leaders meeting to attract future investment in the government.
Just a few weeks ago, President Cyril Ramaphosa also hosted an investment conference in Sandton, to drive investment growth in South Africa in particular.
That conference resulted in nearly R300 billion being pledged to South African investments.
Today we host the media briefing for the #AfricaInvestmentForum – a game changer in the Africa investment space. #AIF2018 pic.twitter.com/gKeo69PZmx
— InvestSA Gauteng (@InvestSAGauteng) November 5, 2018
Victor Oladokun, the director of communications and external relations for African Development Bank Group said, “The Africa Investment Forum is indeed, a game changer, this is an unprecedented investment forum, the likes of which Africa or the world, hasn’t seen before.”
Oladokun highlighted that the era of just talking about investment has to change and this conference marks a new era of conversation and moving forward. He said that at the forum, talking would be limited and rather focus would be placed on transactions and reaching deals. “The bottom line is this, for us as Africa, our investment needs are tremendous, and they are estimated at about a trillion dollars a year. For us to achieve our sustainable development goals we need between 600 and 800 billion dollars.”
Oladokun: This is not just an AFDB initiative. He says the #AfricaInvestmentForum is about forming partnerships and not just another talk shop pic.twitter.com/yjlrhh42PS
— @SAgovnews (@SAgovnews) November 5, 2018
During the conference, there will be 61 projects, curated from a pipeline of 230 projects, which potential investors can invest in. These 61 projects could result in an investment of over $40 billion (about R568 billion).
Forum steering committee chairperson and Gauteng government executive, Mduduzi Mbada, said that it is encouraging that they are hosting this conference, soon after Ramaphosa convened the South Africa Investment Summit.
“We will build on the partnerships, positive mood and enthusiasm generated by the South African Investment Conference; in particular, we will use the Africa Investment Forum to once again position our country, our continent and our province as a destination of choice for investors,” he said.
“Our primary message is that Gauteng is open for business. We are a springboard to the rest of the continent. Gauteng is where Africa’s business starts.”
