The Africa Investment Forum 2024 concluded Friday in Rabat with a record $29.2 billion in investment commitments, organizers announced. The three-day event, hosted by the African Development Bank (AfDB), brought together business leaders, investors, and financial institutions from across Africa and the globe.
“This year, we achieved an extraordinary milestone by securing $29.2 billion in investments for various projects,” said AfDB President Akinwumi Adesina during the closing press conference.
Among the highlights was Morocco’s National Railway Office presenting a strategic $8.8 billion project, supported by commitments from the AfDB and partners totaling $14 billion.
Adesina emphasized the wide-ranging impact of the investments, which target transportation, renewable energy, agribusiness, pharmaceuticals, mining, and water management, among other sectors. He also noted advancements in risk-sharing mechanisms with private institutional investors.
Morocco’s Growing Influence
Morocco’s Minister of Economy and Finance, Nadia Fettah Alaoui, described the forum as “a resounding success,” surpassing last year’s edition in Marrakech by increasing participation by 60%.
“Forty-one projects were presented to investors, generating nearly $21 billion in investment intentions,” Alaoui said, highlighting the country’s leadership under King Mohammed VI in fostering intra-African investment.
The minister also pointed to Morocco’s use of the forum to secure funding for major public projects, with strong participation from Moroccan public institutions.
With 83 countries represented and prominent U.S. banks attending for the first time, the forum offered international investors a closer look at Morocco’s dynamic economy and ongoing projects, Alaoui added.
The Africa Investment Forum, established to catalyze private sector-led development across the continent, concluded its fifth edition with renewed commitments to strengthen partnerships and achieve sustainable growth.
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