AfDB, others shelve 2020 Investment Forum
African Development Bank Group and the Africa Investment Forum founding partners have postponed the 2020 Africa Investment Forum to 2021 amid COVID-19 pandemic.
In a statement, the AfDB said the annual three-day investment marketplace was initially scheduled for November 2020 in Johannesburg, South Africa.
AfDB said the postponement followed a careful evaluation of the impact and evolution of the COVID-19 pandemic and its effects as the rules of social distancing must be observed.
In view of this, the bank has promised to effectively make use of its innovative digital platforms to track investments and advance the financial closure of transactions and existing deals.
“At the 2019 Africa Investment Forum, 57 deals valued at $67.7bn were tabled for discussions. Fifty-two deals worth $40.1bn secured investment interest.
“In July this year, the AIF Founding partners pledged to strengthen strategic partnership engagement and commitments for Africa Investment Forum Market Days 2021, to help ‘reboot investments in Africa.’ They underscored the need to boost local manufacturing while leveraging the continent’s vast resources to unlock investment,” said AfDB.
The statement further said the Africa Investment Forum relies on four pillars to achieve its objectives which include connecting, engaging, closing, and tracking investments.
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