The African Development Bank is set to officially launch the Africa Investment Forum (AIF) on May 8, 2018 in Johannesburg, South Africa. This is a forerunner to the first-ever Africa Investment Forum, which will take place in Johannesburg from November 7-9, 2018.
This year’s African Economic Outlook, a flagship report by the African Development Bank, revealed that Africa would need between US $130 billion to US $170 billion to meet its infrastructure needs. The continent, therefore, needs even more resources to boost its transformation drive.
To address Africa’s investment challenge and to unleash its potential, the African Development Bank and its partners are championing the Africa Investment Forum, a multi-stakeholder, multi-disciplinary platform for collaborative leadership towards the economic and social development of the continent. It will be held annually. AIF’s goal is to harmonise processes between the African Development Bank and its partners, to reduce intermediation costs, to improve quality of project information and documentation and to increase action-oriented engagements between African governments and the private sector.
Among other activities during the launch, the President of the African Development Bank Group, Akinwumi Adesina, will meet the Premier of Gauteng, Government officials, and the Gauteng Business Community.
As part of the official launch, the President of African Development Bank will be speaking at a press conference on May 8, to share more details on the AIF with the media.