Buoyed by last year’s successful Africa Investment Forum Market Days, which generated $29.2 billion in investment interest, its nine founding partners are gearing up for an even more impactful edition this year. The 2024 forum drew over 2,300 investors and participants from 83 countries and featured more than 40 boardroom sessions and 15 sponsors—including investment banks, insurers, and export credit agencies. With even more sponsors expected in 2025, the momentum continues to build.
Meeting recently in Washington, DC, on the sidelines of the World Bank and IMF Spring Meetings, the Forum’s partners reflected on its remarkable seven-year journey. Since its inception in 2018, the Africa Investment Forum has mobilized over $225 billion in investment interest and positioned itself as a dynamic global platform for African investment.
Its founding partners include the African Development Bank Group, Afreximbank, Africa50, Africa Finance Corporation, Development Bank of Southern Africa, Islamic Development Bank, European Investment Bank, Trade and Development Bank, and the newest partner, the Arab Bank for Economic Development in Africa (BADEA).
Dr. Akinwumi Adesina, President of the African Development Bank Group and Chairman of the Africa Investment Forum, emphasized the Forum’s impact: “We have elevated Africa. We have showcased Africa. We have changed perceptions on Africa,” he said. “We have shown our belief in Africa, which has demonstrated to the world that indeed Africa is a bankable destination.”
He reiterated the Forum’s mission: “Africa will not be developed by aid. It will be developed by investment.” This vision has driven the platform to produce a strong pipeline of high-quality deals. To date, 22 deals have closed, with 41% of the financing coming from founding partners in collaboration with institutional investors.
The partners also discussed the Africa Investment Forum Partnership Framework to ensure long-term sustainability. The governance and sustainability structure is expected to be officially signed during the African Development Bank Annual Meetings in May in Abidjan, Côte d’Ivoire.
As Adesina prepares to conclude his presidency of the Bank in September, he thanked the partners for their unwavering support. The group unanimously reaffirmed their commitment to the Forum, recognizing its unique ability to mobilize transformative investment across Africa.
Alain Ebobissé, CEO of Africa50, described the Forum’s distinction: “It focuses not on speeches but on people transacting in boardrooms.” Similarly, Africa Finance Corporation’s CEO, Samaila Zubairu, emphasized the importance of African ownership in development: “The Africa Investment Forum is an initiative that demonstrates that.”
Other leaders, including Boitumelo Mosako of the Development Bank of Southern Africa and Admassu Tadesse of the Trade and Development Bank, echoed their support, hailing the Forum as a vital collaborative brand. Diab Karrar of BADEA and Haytham El Maayergi of Afreximbank reinforced their institutions’ commitment, while Andrew McDowell of the European Investment Bank highlighted the value of institutional collaboration in guiding investment decisions.
Adesina concluded passionately: “It has been my greatest honor to develop and advance the Africa Investment Forum with you all. Let us continue to fast-track Africa’s development together, now and in the future!”
Press Release Contact:
Emeka Anuforo, Communication and External Relations Department
📧 media@afdb.org
