$3.79 Billion Facilities to be Disbursed by the African Investment Forum to over Fifteen Private Sector Projects in Nigeria and the other African States
By Abdul Rahman Bangura–
NEW AFRICA BUSINESS NEWS (NABN) Freetown, Sierra Leone- A subset of the African Development Bank (AfDB) – the African Investment Forum has bent on to subsidize fifteen private sector projects in Nigeria and in some other African countries $3.79 billion facility disclosed by the Africa Investment Forum.
According to a release statement on July 20th, 2020,, the forum announced the facility is sought at actualizing its intention of navigating self-sufficiency and giving protection against the weight of the coronavirus pandemic on the African economy.
“The Forum showcased its Unified COVID-19 Response and provided an update on its activities, as well as opportunities for new partners and investors to engage with the platform,” Africa Investment Forum noted of its new conference in a note broadcasted on the AfDB website.
It disclosed that, fifteen projects expecting serious funding concern in five sectors comprising Agriculture & Agro-Processing, Energy, Health, ICT & Telecoms, and Industrial & Trade at the summit, with four project sponsors casting off their deals to more than a hundred investors. Among the top, proposed investments are a proprietary telemedicine platform in Nigeria, a dairy processing venture in Angola, vaccine manufacturing plant in Kenya and a cotton manufacturing project in Mozambique.
“As partners of the Africa Investment Forum, the premier investment for Africa, our gaze must be clear; help Africa reboot its economy,” Kinwomen Adesina, the AfDb head said at a two-day virtual meeting for Africa Investment Forum founding, institutional and knowledge partners on July 17th, 2020.
The symposium was clasped as the Africa Investment Forum unravels to boost the growth it has documented in its first two years in enabling projects eligible of transmitting adaptation and growth to Africa.
Chinelo Anohu – Head and Senior Director of the Africa Investment Forum, stated “the Africa Investment Forum is not a talk shop. What we are trying to do is to focus our Partner’s efforts on the platform’s bankable deals from the 2018 and 2019 portfolio, as well as some new ones in 2020.”
She moved further to say “we are concentrating not just on the health sector, but also on other sectors that will help jump-start recovery across the continent,” reinforcing that deals that are “more responsive” to the coronavirus crisis are in the pipeline to offer significant support to the private sector.
Up to date, the Africa Investment Forum has finalized eight business agreements worth $2.18 billion from the 2018 portfolio.
For New Africa Business News (NABN) Abdul Rahman Bangura Reports, Africa Correspondent
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