US$500 million equity for agric investment

DOREEN NAWA

The 2019 Africa Investment Forum has seen a US$500 million equity closed for the Africa Infrastructure Investment Fund to speed up investments in agriculture.

Another landmark is the financial close for the Africa Guarantee Fund US$175 Equity transaction to support Small and Medium Size Enterprises, and US$350 million for South Africa’s beef agro-processing project.

The 2019 Africa Investment Forum 

opened on Monday in Johannesburg, South Africa living up to its promise to move from commitment to action.

The opening ceremony attended by President Cyril Ramaphosa of South Africa; President Nana Akufo Addo of Ghana; President Paul Kagame of Rwanda; and Prime Minister of Mozambique Agostinho do Rosario.

In an opening address as host country, President Ramaphosa urged investors to move beyond pledges.

“The time is now to move with speed to ensure that we unlock our potential as Africa. Indeed our continent is ripe for investments, but more importantly, it is also brimming with enormous 

profitable opportunities,”  President Ramaphosa said.

The Africa Investment Forum is an innovative, multi-stakeholder transactional marketplace 

conceived by the African Development Bank, aimed at raising capital, advancing projects to the bankable stage, and accelerating financial closure of deals.

“As the investor community, your presence here shows your unwavering will to help us and support us to succeed. I invite you, therefore, to join us as we pass the flickering torch of 

progress across every border of this great continent until the light of development and economic prosperity illuminates every African village, every African town, every African city, in every African household,” he said.

The inaugural Africa Investment Forum secured investment interests for deals valued at US$38.7 billion in less than 72 hours. 

“A lot of progress has been made on these investment interests, with a highly dedicated team of partners working around the clock to accelerate financial 

closure for transactions,” African Development Bank President Akinwuni Adesina said.

Another transaction tabled last year – a US$600 million transaction for COCOBOD to help improve processing and value addition for cocoa - has also reached financial close, and will be signed during this edition of the Forum. 

Similarly, South Africa’s US$350 beef agro-processing project has reached financial close.

“Promise made, promise kept,” Dr Adesina said. 

He noted that Mara Phones Ashish Takkhar made a commitment during the 2018 Forum. 

“In 2019, he delivered. It is a new, more confident Africa. A continent now aware of its place in the world and determined to be a global investment haven. And Africa is harnessing investors’ interests and investments. Welcome to the Africa Investment Forum, the place to be for investors,” Dr Adesina said.