africa investment forum 2024 gains global influence with record number of investors and closes with

Africa Investment Forum 2024 Gains Global Influence With Record Number Of Investors And Closes With 29.5 Billion In Interest

This years Africa Investment Forum, held in Rabat, Morocco from 4th to 6th December, once again highlighted the continents immense investment potential. Held under the theme Leveraging Innovative Partnerships for Scale, the forum attracted the widest participation ever since its launch in 2018. A total of 1,707 investors from 200 institutions across 83 countries attended the event.

Opening the forum, Dr Akinwumi Adesina, president and chairman of the board of directors of the African Development Bank Group, made a forceful call for more investment in the continent, urging investors to believe the data and not be swayed by the misperceptions about the continent. Africa, he noted, will account for a quarter of all people on the planet by 2050, boosting demand for goods and services on the continent.

High Forum Engagement Highlights Africas Unique Investment Momentum

The demand for housing is expected to rise and make an investment opportunity of up to 1.4 trillion. The size of Africas food and agriculture market will rise to 1 trillion by 2030. Demand for infrastructure presents an annual investment opportunity of at least 170bn a year in energy, transport, infrastructure, water and sanitation, and many more, he pointed out, adding that Africa presents such a unique investment opportunity which cannot be ignored.

Adesina, who received the African of the Decade Award at the closing ceremony, said the attendance at the forum, the highest in its history, was a testament to the opportunities for value creation on the continent. This years forum saw delegations from, among others, India, China and Japan, an indication of the Forums impact as well as the rising interest in opportunities on the continent. A 2024 survey by the Africa Private Equity Capital Association, Adesina said, had shown that 85 of limited partners plan to increase their allocation of private capital to Africa within two years, and 52 believe Africas private capital will be more attractive than other emerging markets within five years. With a significant share of key green transition minerals, the continent also has a unique opportunity to move up the electric vehicle production value, which is expected to grow from 7 trillion in 2030 to 59 trillion by 2050.

Moroccos Minister for Economy and Finance Advocates for Structural Reforms

In a welcome address, Moroccos minister for economy and finance, Nadia Fettah Alaoui applauded the founding partners of the AIF for the collective action to promote investment in Africa. Today, more than ever, development partners are called upon to strengthen their strategic collaboration and work more as a system for more impact in the face of the growing challenges for African countries, she stressed.