What you need to know about the Africa Investment Forum

first_imgUnlockingprivate sector capital, therefore, must be accompanied by resolving policy andregulatory issues, and other systemic bottlenecks, in order to create the rightconditions for energy investments from outside and within Africa. BRICS “Last year we achieved remarkable results with over $36 billion of investments interests that were signed or were being closed. We are hoping that this year it is going to be even better,” said Vuyelwa Vumendlini, Deputy Director General of the National Treasury of South Africa. Finance and Policy As the Africa Investment Forum kicks off in Johannesburg today, the organisers have assured that this year’s edition will be short on talk and heavy on deals. Sharing similar sentiments, Mduduzi Mbapa, senioradvisor to the Premier of Gauteng noted that the biggest take away from lastyear’s edition was the need for greater interconnection on the continent. “Infact, many have been writing about Africa rising. Through this Forum, we aremaking sure that our continent does rise and it contributes to the growth ofthe world,” he said. Day 1⃣ of the #AfricaInvestmentForum. This unique, multi-stakeholder platform was designed by the African Development Bank and its partners to fill the continent’s vast investment gap and kick-start its development agenda.Stay tuned for live updates throughout the day. pic.twitter.com/FngiJm7tI3— African Development Bank Group (@AfDB_Group) November 11, 2019 AFD and Eskom commit to a competitive electricity sector “We will also engagefurther on mobilising climate finance through the Africa Financial Alliance forClimate Change in order to shift portfolios of African financial institutionstowards climate-friendly projects across the continent,” stated Shonibare. Key focus areas at the forum The impetus to mobilise and scale upprivate investment into the energy sector is what makes the Africa InvestmentForum such a critical platform for the continent’s energy future. Read more on funding models The multi-stakeholder transactional marketplace is aimed at raising capital, advancing projects to bankable stage and accelerating financial closure of deals.center_img Shonibare furtherrevealed that the AfDB will also continue discussions on the roll-out of theBank’s transformative Desert to Power Initiative following its endorsement atthe G5 Sahel Heads of State Summit on 13 September in Burkina Faso. Sign up for the ESI Africa newsletter Organised bythe African Development Bank (AfDB), the SouthAfrican government and key partners, the second edition of the Forum, will take place from place from 11 to13November 2019. RELATED ARTICLESMORE FROM AUTHOR The AfDB noted that investors recognise the opportunities in the energy sector, yet multiple barriers stand in the way of transformational private sector participation – including non-creditworthy utilities, the absence of cost-reflective tariffs, and capacity constraints throughout the energy sector value chain. During various boardroom sessions, Shonibaresaid his team will focus on a range of projects, including the Inga Dam in theDRC, the Baynes hydro plant in Angola and Namibia, and the Tulu Moye geothermaldevelopment in Ethiopia. “By leveraging the bank’s convening power to facilitate public-private dialogue, we will move closer to our goal of universal energy access, primarily through reforms and financial instruments to de-risk transactions, enhance bankability, and fast-track project closure,” stated Wale Shonibare, the bank’s acting Vice-President, Power, Energy, Climate Change & Green Growth. Generation UNDP China, CCIEE launch report to facilitate low-carbon development TAGSAFDBeconomic growtheconomic transformationfundingSouth Africa Previous articleScientific collaboration on climate change and energy transitionNext articleSouth Africa: Local content to boost wind energy capacity Babalwa BunganeBabalwa Bungane is the content producer for ESI Africa – Clarion Events Africa. Babalwa has been writing for the publication for over five years. She also contributes to sister publications; Smart Energy International and Power Engineering International. Babalwa is a social media enthusiast. Low carbon, solar future could increase jobs in the future – SAPVIA last_img read more