Africa Investment Forum 2019: Nigeria expected to be major player

Nigeria will feature significantly in the 2019 Africa Investment Forum scheduled to take place in Johannesburg, South Africa this November, business leaders and government heard at a roadshow event held in the capital Abuja.

Following the hugely successful inaugural edition held last year, the African Development Bank’s innovative investment marketplace set up to accelerate investment into the continent, will convene for its second meeting from 11-13 November.

The Nigerian roadshow, held 9th July, was organised by the Nigeria Country Department of the Bank in collaboration with the Africa Finance Corporation. It was attended by key industry players, including, policy makers and representatives of state governments.

Speaking at the event, Ekiti State Governor Dr. Kayode Fayemi emphasized the role of private capital to deliver the infrastructure required to grow Nigeria’s economy and provide jobs for millions of young Nigerians.

“With the support of the African Development Bank and the African Finance Corporation, and the quality of investors that attended the inaugural edition in South Africa last year, I am confident that if we put our best foot forward, we will receive significant funding commitment for investments across Nigeria and the continent,’’ Fayemi said.

Senior Bank Director for the Nigeria Country Office Ebrima Faal, highlighted Nigeria’s prominence during the 2018 Forum. Nigeria was very visible. Out of the 63 boardroom deals presented at the Forum, Nigeria had 5 deals worth $7 Billion. This represents 14.9% of the total deals accounted for on the continent, and 43% of the deals accounted for the region.

“The African Development Bank and its partners are excited to present you with … the only platform that allows you to instantly pitch and close monumental deals on the spot. We encourage you to engage early and wholesomely to be a part of re-writing Africa’s economic history,’’ he urged.

According to Africa Finance Corporation Senior Director Taiwo Adeniji, “building on the success recorded in 2018, it is expected that Nigeria will be a major participant at the 2019 Forum. The Africa Finance Corporation is keen to support Nigerian businesses across sectors to ensure effective project implementation to boost economic development.’’

The Nigeria roadshow included highlights and key lessons from the 2018 forum, project preparation guidelines as well as presentations on selected pipelines.

“We are now seeing positive momentum in building transparent and durable institutions to anchor the political economy, promote and support development of the private sector, in order to increase the pace, depth and spread of economic growth,’’ Faal said.