Again, African leaders have expressed concern over setbacks in attracting capital to the continent but promised to continue to de-risk the market, create more market-friendly policies, and proactively pitch opportunities across countries to the rest of the world.• Leaders demand better deal, AIF mobilises $143b since 2018
In response to the Feed Africa commitment of AfDB, the bank and other partners at AIF unveiled a platform known as the Alliance for Special Agro-Industrial Processing Zones to mobilise equity funding for the continent’s agro-ecosystem. “The Alliance will also provide project preparation finance, equity and debt investments, technical assistance, project tracking and oversight. It will help with improving administrative, policy and investment incentives,” he told the audience during a session on agro-businesses.
“At the 2022 AIF Market Days, the Abidjan-Lagos highway corridor was able to secure $15.5 billion of investment interest. This corridor will transform the entire West African region and speed up regional integration and trade. According to him, data have supported rising optimism about Africa as the next frontier of the global economy.
The size of the electric vehicles value chain is estimated to increase from the current $7 trillion to $57 trillion by 2050, he said, with Africa accounting for the largest source of green metals for the development of electric vehicles, including platinum , cobalt , manganese , bauxite and graphite .
President Julius Maada Bio of Sierra Leone called for aggressive diversification of economies and attributed the desperation of youths to leave the continent to the low knowledge index of the economy. Rwandan Prime Minister, Édouard Ngirente, noted that time is ticking fast and the government could not afford to continue lamenting missed chances but rather move quickly and build the economy citizens desire.
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