Over 80 Egyptian public and private sector entities attended the African Investment Forum (AIF) road show organised by the African Development Bank on Wednesday 25 July 2018 in Cairo.
Leading business executives from a wide range of industries including the banking and investment sector, industry associations, the Government and its investment promotion agencies, as well as key AIF partners EBRD, World Bank and the IFC, participated in the road show.
The meeting was officially opened by Egypt’s former Prime Minister, Ibrahim Mahlab who highlighted the great opportunities available for Egyptian companies across Africa.
One-on-one Business-to-Business meetings were held between the Bank and Egyptian companies to identify projects that may be showcased at the AIF, which takes place in Johannesburg, South Africa, 7-9 November 2018.
‘The AIF offers Egyptian private sector an excellent opportunity to promote and highlight their investment opportunities in a global setting, amidst the presence of investors, multilateral banks and private sector; and to also seek opportunities presented from other African countries,’ said Stella Kilonzo, Senior Director in charge of the AIF at the Bank.
The Bank is championing AIF, the continent’s largest investment marketplace to help Africa find the path to long-needed prosperity. It is dedicated to scaling up investments in Africa by advancing the readiness of private sector projects and public private partnerships, raising capital, and accelerating the financial closure of deals.
The Cairo road show was to raise awareness about the AIF and identify Egyptian projects to be showcased at Forum in Johannesburg.
As a multi-disciplinary platform, AIF will convene key players (project sponsors, borrowers, lenders and investors) necessary for accelerating investments in Africa. The three-day event will be fully transactional and will work with global pension funds, sovereign wealth funds and other investors to leverage investments into Africa. The AIF will also bring together a network of financial institutions to de-risk investments.
The Bank’s delegation at the Cairo roadshow included Lassaad Lachaal, Senior Advisor to the Bank’s President; Ahmed Zayed, Executive Director for Egypt at Bank; Yacine Fall, Deputy Director General for North Africa, and Malinne Blomberg, Egypt Country Manager.
The partnership between Egypt and African Development Bank Group, which has lasted for almost half a century, has more than 100 projects and programs with a financial commitment of nearly US$ 7 billion.
The Bank’s delegation also paid a courtesy visit to Afreximbank, a strategic partner to the Forum. During a meeting with Afreximbank President Dr. Benedict Oramah, both institutions affirmed their resolve to deepen collaboration on the upcoming forum.
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