The 2024 Africa Investment Forum (AIF) has garnered $7.6 billion in investment interest for Nigeria, according to Dr. Akinwumi Adesina, President of the African Development Bank (AfDB). The announcement was made in a tweet by Dr. Adesina following the conclusion of the event, held in Rabat, Morocco, from December 4 to 6, 2024.
“I am delighted the Africa Investment Forum 2024 mobilized $7.6 billion of investment interest for Nigeria. It was great to have several State Governors: Lagos, Kaduna, Kastina, Kwara, and Plateau, and (later) Ogun. We will keep working to support & boost investments to Nigeria,” Dr. Adesina said.
Focus on Nigeria’s Economic Growth
The forum, themed “Leveraging Innovative Partnerships for Scale,” attracted key stakeholders and decision-makers from across the continent. Nigeria stood out as a major focus, with state governors from Lagos, Kaduna, Katsina, Kwara, Plateau, and Ogun presenting investment-ready projects to potential investors. Their participation underscored Nigeria’s dedication to addressing critical sectors such as infrastructure, energy, agriculture, and technology.
Accelerating Africa’s Economic Transformation
Since its inception in 2018, the Africa Investment Forum has become a premier platform for mobilizing investments to accelerate Africa’s economic transformation. Its flagship Market Days event facilitates direct engagement between project sponsors, government leaders, and investors.
The curated boardroom sessions, a hallmark of the forum, streamline the investment process by connecting viable projects with funding sources, including commercial banks, institutional investors, and development partners. The $7.6 billion investment interest for Nigeria highlights the forum’s effectiveness and growing investor confidence in Nigeria’s economic potential.
Partnerships Driving Development
The 2024 theme emphasized the role of collaboration in achieving large-scale, sustainable growth. The AIF continues to pioneer innovative financial models and partnerships that address Africa’s critical development challenges.
Dr. Adesina reiterated the AfDB’s commitment to unlocking investment opportunities across the continent:
“We remain focused on driving investments that create jobs, reduce poverty, and foster sustainable development,” he noted.
During the event, Dr. Adesina shared a message of unity and purpose, stating:
“As we all gathered here in Rabat, we joined our hands and hearts, with determination to drive investments into Africa, to accelerate its growth, to move forward successful projects with continuity, and to forge new alliances for stability and resilience of the economies of Africa. We came here to this historic royal city of splendor, Rabat, a World Heritage Site, to make history.”
Record-Breaking Investment Mobilization
The forum reported a total of $29.2 billion in investment interest across various projects, further solidifying its position as a leading platform for advancing Africa’s development goals.
Dr. Adesina emphasized the significance of these investments, stating that they will help create jobs, foster economic resilience, and contribute to Africa’s sustainable development trajectory.
