Africa Investment Forum Market Days 2022 set for early November
It will bring together deal sponsors, deal brokers and dealmakers from around the world.
ABIDJANI-The third edition of the Africa Investment Market Days is fast approaching, according to its schedule.
Taking place in Abidjan, Côte d’Ivoire, from November 2-4, 2022, the Africa Investment Forum [AIF2022] will be Africa’s largest transactional investment marketplace. It will bring together deal sponsors, deal brokers and dealmakers from around the world.
This year’s event will be the first face-to-face gathering since AIF2019. The Covid-19 pandemic resulted in the cancellation of the 2020 Market Days, while the Omicron variant led to the AIF2021 being postponed to March 2022.
Despite this drawback, organisers say much work has been done leading up to the Africa Investment Forum Market Days 2022. “The objective is to foster productive engagements between the public and private sectors. The Africa Investment Forum has continued to provide investors with access to a funding platform, offering bankable and de-risked projects within an enabling environment.”
Under the Unified Covid-19 Response, the Africa Investment Forum’s founding partners— African Development Bank, Africa 50, Africa Finance Corporation, Afreximbank, Development Bank of Southern Africa, European Investment Bank, Islamic Development Bank and Trade and Development Bank—identified 13 projects across five relevant sectors for funding consideration. These projects have a collective value of US$ 3.68 billion, with each project helping advance Africa’s self-sufficiency and resilience against future shocks.
The Africa Investment Forum’s Deal Tracker mechanism has continued to monitor the conversion of investment interests into financing commitments. It has done so while accelerating the investment allocation process for deals moving towards financial closure. Ten transactions from the 2018 and 2019 Boardroom portfolios made up of deals valued at US$ 3.1bln had successfully reached deal closure by 2021 year-end. The African Development Bank is partly financing six of these deals, with the Bank contributing a cumulative financing of US$ 225.7 million to close the funding gap in these deals.
The ten closed AIF transactions are the following: Multinational African Infrastructure Investment Fund; Multinational African Guarantee Fund for Small and Medium-sized Enterprises; Rwanda Gabiro Agri-Business Hub Phase 1; South Africa Beef Agro-processing Project; and Togo Lomé New Thermal Power Plant
Others are: Ghana COCOBOD;Multinational Alitheia IDF Fund; Multinational Facility for Energy Inclusion; Multinational AfriInvest IV; and Nigeria Infrastructure Credit Guarantee Company Limited [“InfraCredit”].
In March 2022, the Africa Investment Forum held its Virtual Boardrooms, where 45 projects worth up to US$ 50bln were presented and discussed. Eight of these were women-led with a value of nearly US$ 5bln. The Boardrooms resulted in US$ 32.8bln in investment interest.
Transformative Boardroom transactions include a US$ 79mln biomedical and pharmaceutical hub; a US$ 348mln b biomass power plant; a $140mln oncology hospital; a US$ 454mln fibre optic project; a $140 million film and performing arts academy; a US$ 65mln innovative telemedicine project; a US$ 450mln technology village; a US$ 4.2bln freight railway project; and a US$ 4.5bln East Africa refinery fuel project.
Outreach to global and local investors has continued. Since the Africa Investment Forum Boardrooms in March 2022, investor roadshows have taken place in the United States, Europe and Africa. This included a dedicated women-centred investment roundtable in partnership with the United States Trade and Development Agency [USTDA]. Interest has been high, with many investors seeking to participate or committing to participate in this November’s Africa Investment Forum Market Days.
Born out of Africa’s need for a premier and pivotal platform for attracting domestic and foreign direct investment to the continent, the goals of the Africa Investment Forum’s multi-stakeholder, multidisciplinary platform are to: advance projects to bankable stages, raise capital and accelerate the financial closure of deals.
All eyes will be on AIF2022, where investment interest is expected to convert many more transactions to closure.
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