ECOWAS Investment Forum 2024 opens discussion on ways to boost investment in Africa

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The forum’s primary focus is to stimulate economic growth, create sustainable jobs, and help member states build resilience in the face of global challenges. The forum also focused on the region’s strong investment potential; facilitated partnerships among key stakeholders, and provided a platform to discuss crucial issues such as food security, infrastructure development, and climate change mitigation.

Mrs Kanayo Awani, EVP AFREXIM said Africa’s persistent infrastructure deficit which amounts to between $130 and $170 billion per year, or 2% of GDP each year, can be resolved if the region pools resources towards sustainable “innovative financing mechanisms and regulatory frameworks that encourage collaboration.”

According to Dr Mabouba Diagne, Vice President in charge of Finance and Institutional Services, there is an urgent need to focus on the production and processing of agricultural products. He added “with the assistance of our banks and the ECOWAS Bank for Investment and Development , we can establish a circular economy and successfully tackle challenges.

“This poses a real challenge to the survival of certain communities and sustainable development. Resilient agriculture and the implementation of environmentally friendly agriculture practices are necessary”. Touching on ways to resolve youth unemployment through green economy, Kandeh Yumkella, Chair of the Presidential Initiative on Climate Change, Renewable Energy, and Food Security for the Government of Sierra Leone, noted that, “there is an urgent need to educate youth on climate change and potential solutions. This requires leadership and action from our governments. To be competitive in green economies, African governments must assess the continent’s green assets.

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