The President of the African Development Bank (AfDB), Dr. Akinwumi Adesina, has said that the Abidjan-Lagos highway corridor has successfully secured $15.5 billion in investment interest.
This development was disclosed during the 2023 Africa Investment Forum (AIF) Market Days in Marrakech, Morocco, where participants gathered under the theme “Unlocking Africa’s Value Chains,” News Agency of Nigeria reported.
Adesina emphasized that the corridor’s transformational potential extends to the entire West African region, offering the promise of accelerated regional integration, sustainable economic development, and enhanced trade opportunities.
What Dr Akinwunmi Adesina said
- “In 2022, investment interests were secured for the East Africa Railway Corridor, connecting Tanzania, the Democratic Republic of Congo, and Burundi, amounting to $3.6 billion,” Adesina noted. “We are delighted that the AIF has already closed deals on investment gaps worth $11 billion, spanning diverse sectors such as liquefied natural gas, renewable energy, agribusiness, industrial manufacturing, creative industries, housing, and transport. It is time to take action and invest in Africa.”
According to him African economies present some of the most promising investment opportunities globally and encourage investors to focus on the continent’s potential.
- “As investors, place your investments where the future lies, which is in Africa. Africa’s investment landscape should be evaluated based on facts, not perceptions,” he emphasized, highlighting Africa’s low default rate, increasing private equity, and venture capital investments.
More insight
In support of the Abidjan-Lagos highway corridor and the broader objectives of regional economic integration, His Majesty King Mohammed VI of Morocco commended the Morocco-Nigeria Gas Pipeline Project as a significant initiative to provide reliable energy supplies to countries.
The Africa Investment Forum (AIF) is a pivotal platform where investable projects meet with investors and leaders in investment boardrooms, ensuring that investments are facilitated, risks are managed, and deals are finalized.
Established in 2018, AIF has grown to become Africa’s premier investment platform, with support from key institutions including the AfDB, Islamic Development Bank, European Development Bank, Afreximbank, Trade and Development Bank, Development Bank of Southern Africa, Africa Finance Corporation, and Africa 50.
