• Tuesday, April 23, 2024
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Ten companies seal $4.2bn at Africa Investment Forum

Ten companies seal $4.2bn at Africa Investment Forum

Ten companies have closed deals on projects worth $4.22 billion at the Africa Investment Forum, organised by the African Development Bank and seven other international development banks.

Since it was launched in 2018, the Africa Investment Forum has mobilised nearly $143 billion in investment interest.

Africa Investment Forum aims to attract capital to bankable projects in Africa’s critical sectors and as a result, it has sealed a deal for Geometric Power worth $514 million, Kampala- Jinja Expressway PPP($1.543 billion) and GE Paper Machine & Wastepaper Collection Sites ($250 million).

Also, the Canal Sugar Project was sealed with a value of $973 million, IHS Affordable Green Housing Development Fund with $150 million, Rwanda Innovation Fund with $150 million.

Read also: Sanwo-Olu seeks $1bn for film city, others at Africa Investment Forum

SPARK+ Africa (Clean Cooking) Fund with a value of $70 million, Tulu Moye Geothermal Power Project with a value of $233 million, CIAF Leasing with a value of $90 million and ARCH Africa Renewable Power Fund at $250 million value.

These deals were sealed at the Africa Investment Forum, Market Days 2023 which was held in Palace Congress, Marrakech with the theme: ‘Unlocking Africa’s value chain’ which was held from November 8 till November 10.

Read also: At Africa Investment Forum, we do deals, deals, and deals – Adesina

The Africa Investment Forum is a multi-stakeholder, multi-disciplinary platform that advances projects to bankable stages, raises capital, and accelerates deals to financial closure.

The forum’s vision is to channel capital towards critical sectors to achieve the Sustainable Development Goals, the African Development Bank’s High 5s and the African Union’s Agenda 2063.

Read also: Businesses seal $31bn deals at Africa Investment Forum

Africa Investment Forum’s centrepiece is the annual three-day Market Days event, which brings together thousands of global investors, heads of development finance institutions, and business and government leaders to advance critical investment transactions to closure.