The African Development Bank (AfDB) in collaboration with the South African Chamber of Commerce and Industry will hold a panel discussion on the Africa Investment Forum (AIF) at the BRICS Business Forum later today.
Africa has huge infrastructure deficit. This year’s African Economic Outlook, a flagship report by the African Development Bank, estimates that Africa would need between $130 billion and $170 billion to meet its infrastructure needs.
According to the AfDB, total commitments were at just $63 billion, as at 2016. This represents a financing gap of approximately $67 to $107 billion a year, in just infrastructure.
To address Africa’s investment challenge and to unleash its potential, the African Development Bank and its partners are championing AIF, which will be an annual forum.
AIF’s goal is to harmonise processes between the African Development Bank and its partners, to reduce intermediation costs, to improve quality of project information and documentation, and to increase action-oriented engagements between African governments and the private sector.
Updated information will be provided as the meeting unfolds.