Trust data, not misconceptions, AfDB tells investors

By NATION REPORTER

THE African Development Bank (AfDB) Group has encouraged investors to believe the available data and not be swayed by the misperceptions about the continent.
AfDB president, and Chairman of the Board of Directors, Akinwumi Adesina emphasised that Africa would account for a quarter of all people on the planet by 2050, boosting demand for goods and services on the continent.
At this year’s Africa Investment Forum held in Morocco, Dr Adesina highlighted Africa’s unique investment momentum.
“The demand for housing is expected to rise and make an investment opportunity of up to US$1.4 trillion. The size of Africa’s food and agriculture market will rise to US$1 trillion by 2030.
“Demand for infrastructure presents an annual investment opportunity of at least US$170 billion a year in energy, transport, infrastructure, water and sanitation, and many more,” he pointed out, adding that “Africa presents such a unique investment opportunity which cannot be ignored.”
Dr Adesina, who received the “African of the Decade Award” at the closing ceremony, said the attendance at the forum, the highest in its history, was a testament to the opportunities for value creation on the continent.
This year’s forum saw delegations from, among others, India, China and Japan, an indication of the Forum’s impact as well as the rising interest in opportunities on the continent.
Held under the theme “Leveraging Innovative Partnerships for Scale,” the forum attracted the widest participation ever since its launch in 2018.
A total of 1, 707 investors from 200 institutions across 83 countries attended the event.