Investment conference ‘speed dating on steroids’

Just do it. The phrase, uttered by Rwandan President Paul Kagame at the Africa Investment Forum in Sandton last week, became something of a mantra as delegates met to discuss deals in Africa. Kagame was lamenting on an entrenched problem in Africa: the lack of policy implementation and delivery by governments. Nevertheless, Business Day reports that the more than 2 000 delegates at the forum, an initiative of the African Development Bank (AfDB), needed no call to action. The investment marketplace, which is how organisers describe the event, now in its second year, ‘was described by an observer as ‘speed dating on steroids’. Bankers, lenders and investors from more than 100 countries, including 48 in Africa, networked, addressed opportunities and signed deals. The AfDB announced at the closing that 56 deals valued at almost $68bn had been signed. The activity covered many sectors, including infrastructure, agriculture, ICT and telecoms as well as urban development. Despite the huge infrastructure deficits in Africa, less than 1% of assets under management for infrastructure globally come to the continent. The report notes that AfDB aims to change this by derisking investment, improving information about opportunities in Africa and pushing for more bankable projects.

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