This is how much was raised at the Africa Investment Forum

News

Op-Ed: Why the COVID-19 pandemic is no time for fiscal distancing

"Extraordinary times call for extraordinary measures. As such, it can no longer be business as usual".- Akinwumi Adesina, President of the African Development Bank

Can Cruise Lines Recover From Coronavirus?

The COVID-19 outbreak has laid waste to entire sectors of the global economy, but none faster than the cruise business. The pandemic has basically shut it down with the three largest publicly traded cruise companies suspending some, if not all, of th

Rand hits record low, goes over 19 to dollar as Fitch downgrades SA further into junk status

Last Friday Moody’s, the last rating agency to rate South Africa investment grade, cut South Africa’s sovereign credit rating to junk in line with economists’ forecast. Today Fitch further downgraded the country sending the rand plunging over 19 rand to the dollar. Below it gives its reasons...

By Chris Bishop

The Africa Investment Forum declared it had secured $40.1 billion in investment – an increase on last year – after days of talking and intense boardroom negotiations at the Sandton Convention Centre in Johannesburg.

Hundreds of delegates from scores of countries around the world got together in South Africa, the continent’s most industrialised country, to try to attract billions from foreign investors to boost business and fill a huge infrastructure gap. Organisers and delegates joked that it was like : “speed dating on steroids”.

“We are winning because you are here, we are winning because you have invested…we are winning together,” said Akinwumi Adesina, the head of the African Development Bank and the proponent of the investment forum.

Fifty six deals worth $67.6 billion made it to the boardroom discussions at the forum, a 44% increase on last year, of those, 52 made it to approval. The deals , from 25 countries, secured investor interest worth $40.1 billion – an increase on the $37.1 billion garnered last year in the first forum..

At the closing ceremony many of the scores of delegates shared their experience of three days of talk of investment in Africa. Most agreed the talks had been rigorous and disciplined.

“Risk is real,” said one delegate.

Ïf you are not in Africa you are not in business,” says another.

The investment secured four projects in Nigeria, Africa’s biggest economy, including a 500 MW power plant.

- Advertisement -
- Advertisement -

Featured

SA’s banks reveal how small businesses can apply for the R1bn Oppenheimer fund

Three of South Africa’s major banks have revealed to CNBC Africa how small businesses can apply for funding from the South Africa Future Trust. This is what they had to say.

Subscribe to our newsletter

Sign up for free newsletters and get more CNBC AFRICA delivered to your inbox

Applications open for Rupert family’s R1bn fund, here’s how to apply

As small businesses around South Africa feel the weight of the country’s 21 day lockdown and the COVID-19 pandemic, BUSINESS/PARTNERS has revealed...

How to protect your mental health amid the coronovirus pandemic

The coronovirus pandemic is causing high levels of anxiety all over the world. For some, coping with lockdowns hasn’t been easy and there are concerns social distancing and isolation could negatively impact mental health. Dr Linda Blokland, Acting Head of Department at the Student Counselling Unit at the University of Pretoria joins CNBC Africa for more.

Altron eyes London listing for Bytes UK

Altron plans to separate its UK assets from its African operations via a London listing. The technology group says the listing, still at planning stage will unlock value for its shareholders. Mteto Nyati, CEO Altron joins CNBC Africa for more.

Siemens donates R500, 000 towards fight against COVID-19 in South Africa

In a bid to help alleviate the impact of COVID-19 in South Africa, the Southern and Eastern African division of the multinational conglomerate, Siemens, has donated R500, 000 to the Solidarity Response Fund.
- Advertisement -

More Articles Like This

- Advertisement -