AfDP and AIF attract Private Sector Investment into Africa

Dumani Moyo

African Development Bank (AfDB) is working with leading global development finance institutions to facilitate investments that could transform the continent under Africa Investment Forum (AIF). As a way of raising AIF awareness, on 24 July, a business session was held in Sandton, where various business analysts and other stakeholders also discussed how to attract Private Sector Investment into Africa.

Speaking during the event, the AfDB Deputy General, Southern Africa Region, Josephine Ngure said the session was also to enable a broader understanding of the key roles that governments and multilateral institutions can play in accelerating Africa’s investment opportunities.

“The African Development Bank is doing its best to position the AIF as a platform to improve the flow of business in Africa,” she said. “The aim is to advance and promote friendly policy reforms and regulations to elevate business practices in Africa.”

However, Ngure warned that there will be a disconnect between the public and private sectors if governments continue to remain focused on driving policy, while having a limited understanding of the private sector’s requirements.

She added that the AIF will be officially launched during the event to be held from 7 to 9 November 2018. She said the AIF will deliberately bring together investors, high quality projects and investment opportunities to strike deals among private sector participants and government and bring them forward.

The CEO of Pan African chamber of Commerce, Johnny Muteba, challenged Africans to rise to the occasion and get themselves ready in order to attract investors.

“As Africans, we need to believe in ourselves and take business serious,” he said. “We need to understand and drive our own agendas. We also need to communicate the innovative

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