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<p>Launched in 2018, the Africa Investment Forum is a multi-stakeholder, multi-disciplinary platform that advances private and public-private partnership projects to bankability. It also raises capital and accelerates deals to financial closure&#8230;.</p>


Africa Investment Forum Virtual Boardroom Sessions


<p>The African Development Bank says African growth will rebound this year, recovering from its first recession in 50 years. In its flagship African Economic Outlook report, Africa&#8217;s biggest development bank noted tourism dependent economies, oil exporters and resource rich nations had been the hardest hit by the pandemic.</p>



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<p>The 2021 edition of the African Economic Outlook focuses on debt resolution, governance, and growth in Africa. Chapter 1 examines Africa’s growth performance and outlook amid the COVID–19 pandemic. The chapter emphasizes policy options to mitigate the effects of the pandemic in the short, medium, and long terms. Chapter 2 explores the causes and consequences of Africa’s debt dynamics by showing how the changing structure and composition of debt create vulnerabilities. In chapter 3, the report takes stock of the challenges in the current global architecture for debt resolution and explores the link between governance and growth with an emphasis on proposed reforms to improve the processes of debt resolution, governance, and sustainable growth.</p>



<p>Read and download the full report below: </p>



<p><a style="text-decoration: underline;" title="View African Economic Outlook 2021 on Scribd" href="https://www.scribd.com/document/498808202/African-Economic-Outlook-2021#from_embed">African Economic Outlook 2021</a> by <a style="text-decoration: underline;" title="View CNBC Africa's profile on Scribd" href="https://www.scribd.com/user/543888036/CNBC-Africa#from_embed">CNBC Africa</a> on Scribd</p>



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AE)2021

African Development Bank Sees 2021 Growth Rebound, Cautions on Growing Inequality


<p>By Vanessa Moungar, Director of Gender, Women and Civil Society </p>



<p>If you are a gender champion,
then you are familiar with the discussions around the glass cliff.&nbsp; The story of women eager to defy the odds, accepting leadership roles at times of crisis, when
the chance of failure is the highest. The truth is that many bold glass
cliff climbers have succeeded without falling off. </p>



<p>Two of such champions come to my
mind: the former Xerox CEO Anne
Mulcah and Tokunboh Ishmael, co-founder of
Aliethiea IDF.</p>



<p>Mulcah, Ishmael and likeminded
agents of change have already shattered the status quo. So, when the first
Global Gender Summit held in Africa kicks off on November 25<sup>th</sup> in
Kigali, Rwanda, the international community will hurtle towards heeding the
calls to dismantle barriers to women’s full participation and advancement
economic development on the continent. </p>



<p>Women make up over 40%
of African business owners yet only 2% are able to access finance according to
a Mckinsey report. One in four women globally who start in a business come from
Africa (Global Entrepreneurship Monitor).</p>



<p>The Summit, organised by the
Multilateral Development Banks’ (MDBs) Working Group on gender, will be held in
Africa for the first time ever, from the 25<sup>th</sup> to 27<sup>th</sup>
November 2019 in Kigali, Rwanda. This year’s summit is hosted by the African
Development Bank in partnership with the Government of Rwanda and supported by
other multilateral development banks as key partners. </p>



<p>Under the theme “Unpacking
constraints to gender equality,” the Global Gender Summit will share best
practices and seek innovative solutions that can be harnessed to empower women
and girls in Africa and around the world.</p>



<p>We are excited to be bringing the
world to Rwanda, a country that has set a strong example when it comes to
promoting women’s rights and representation. </p>



<p>Rwanda&nbsp;was the
first country in the world with a&nbsp;female&nbsp;majority
in&nbsp;parliament, currently at
67.5 %, following October parliamentary polls. Out of a total parliamentary
membership of 80, women occupy 54 seats. This feat puts the nation ahead of
even the most developed nations. </p>



<p>From the massive financing gap
for women-led enterprises, inadequate data, laws and cultural norms that
negatively affect women, to a lack of representation in business and politics,
the challenges are great.</p>



<p>But the opportunities are there
too.</p>



<p>Discussions will focus on the
main barriers to achieving gender equality and women’s empowerment, namely:
scaling up innovative financing, fostering an enabling environment and ensuring
women’s participation and voices. Sectors to be addressed will include climate
change, the digital revolution, private sector and human capital and productive
employment.</p>



<p>In Africa, women-led enterprises
face a whopping $42 billion financing gap. One of the Bank’s flagship gender-focused projects is its Affirmative
Finance Action for Women in Africa (AFAWA), which seeks to accelerate growth
and employment creation across African economies, by closing the financing gap
for women. </p>



<p>Over the next 5 years, AFAWA is
expected to unlock $3 billion in private sector financing to empower female
entrepreneurs through capacity-building development, access to finance as well
as policy, legal and regulatory reforms to support enterprises led by women.</p>



<p>Our Fashionomics Africa
initiative supports the African textiles and fashion industries by building the
capacities of small and medium-sized enterprises in the textile and clothing
sector, especially those run by women and youth. By using technology as a driver for the development of skills and
capacity in Africa’s creative industries, the African Development Bank aims to
stimulate job creation on the continent. At the summit, we will unveil an
innovative online marketplace for designers across the continent.</p>



<p>That’s just some of the exciting
news. We will use the opportunity of the Global Gender Summit to launch a
number of initiatives to dramatically transform the landscape of access to finance for women
across the continent.</p>



<p>These include the
Africa Gender Index- a joint African Development Bank and the United Nations
Economic Commission for Africa (UNECA) report that assesses African countries on
gender equality.</p>



<p>The launch of the AFAWA/AGF Risk Sharing Facility, which will de-risk lending to women through AGF’s partial, guarantees to financial institutions and its capacity development to women entrepreneurs.<br><br>As well as these continent-wide initiatives, we at the African Development Bank understand that change begins at home. That is why in 2018, the Bank rolled out its gender marker system to process, monitor, and promote gender mainstreaming in all its operations, with gender specialists as part of project teams and Bank operations.</p>



<p>By the end of last year, 40% of
public sector Bank operations had been organised under the gender marker
system, a major shift in the Bank’s way of doing business and commitment to
gender mainstreaming. </p>



<p>We continue to
support and build the individual power of girls and women across the countries
we work in and never has the time been more urgent.</p>



<p>We expect the Global Gender Summit, to
be a milestone event in the empowerment of women in Africa and beyond. &nbsp;See you there.</p>



<p>* This year’s Global Gender Summit, is hosted by the African Development Bank in partnership with the Government of Rwanda and supported by other multilateral development banks as key partners.</p>


Op-Ed: Gender equality: It’s time for disruption, time to shatter the status quo. We can’t afford to wait!

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<p>There’s a new investment fund for women entrepreneurs launched in Africa and so far gathered $100m. It is called Alitheia IDF Fund.</p>


Africa Investment Forum: $100m African women entrepreneur fund launched

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<p>Alfred Zeufack, Chief Economist, Africa at the World Bank was one of the more than 2200 delegates who attended the Africa Investment Forum, held in Sandton from the 11th to the 13th of November.</p>


Africa Investment Forum: Alfred Zeufack on what opportunities Africa’s free trade deal brings to the continent

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<p>The Managing Director and CEO of the Bank of Industry (BOI) in Nigeria, Olukayode Pitan, says the bank signed agreements with four major banks at the 2nd Africa Investment Forum in Johannesburg. He discussed their plans with CNBC Africa’s Kopano Gumbi at the forum.</p>


Africa Investment Forum: Bank of Industry’s Olukayode Pitan on agreements signed at the forum

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<p>An economically, financially and technologically integrated Africa will be driven by the 4th Industrial Revolution. Big data, digitisation, algorithms, cloud computing, and artificial Intelligence, will create new markets, drive productivity and extend social welfare. For Africa to punch its weight as we move into the 4th Industrial Revolution critical changes and investments must be made to prepare the continent for a ‘future’ that is already here&#8230;.</p>


Africa Investment Forum: Unlocking Digital Investments

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<p>At the end of the three-day-long Africa Investment Forum in Johannesburg, the African Development Bank says 52 deals worth $40.1 billion secured investor interest compared to the $37.8 billion last year. CNBC Africa’s Fifi Peters spoke to Pierre Guislain, AfDB&#8217;s Vice President for Private Sector, Infrastructure &#038; Industrialisation about the next steps.</p>


Africa Investment Forum: We need to translate interests into actual commitments

Africa Investment Forum: We need to translate interests into actual commitments, says AfDB’s Pierre Guislain

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<p>The East African Community (EAC) and the Development Bank of South Africa entered into a Memorandum of Understanding (MoU) at the Africa Investment Forum held in Sandton from 11 to 13 November. CNBC Africa’s Kopano Gumbi spoke to Kenneth Bagamuhunda, Director General, East African Community and Mohan Vivekanandan, Group Executive, Origination and Coverage at the DBSA about what the MOU entails.</p>


Africa Investment Forum: DBSA

Africa Investment Forum: DBSA, East African Community seek to boost infrastructure development with joint MoU

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<p>As the second edition of the Africa Investment Forum comes to a close, this session unpacks the boardroom highlights, outcomes and the way forward&#8230;.</p>


Africa Investment Forum: Unveiling the Boardrooms

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<p>Advancing projects to bankable stages, raising capital and connecting investors to unique opportunities is setting the tone for the Africa Investment Forum. Ada Osakwe, CEO of Agrolay Ventures, Jude Chiemeka, Head of Trading Business Division of the Nigerian Stock Exchange, and Dave Uduanu, CEO of Sigma Pensions join the CNBC Africa panel discussion for the Road to the Africa Investment Forum&#8230;.</p>


Road to Africa Investment Forum: Finding innovative funding solutions to projects in Africa

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<p>The African Development Bank (AfDB) says the second edition of the Africa Investment Forum recorded $40.1 billion in investor interest from its boardroom dealings. CNBC Africa’s Chris Bishop and Kenneth Igbomor spoke to Africa Investment Forum’s Head and Senior Director, Chinelo Anohu-Amazu about the interests secured.</p>


Africa Investment Forum: Anohu-Amazu: The real work starts after the forum

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<p>The European Bank for Reconstruction and Development has invested more than $11 billion over the past seven years into developing the private sector and market economies in North Africa. They are currently in Morocco, Tunisia and Egypt. The Bank’s Managing Director, Janet Heckman, spoke to CNBC Africa’s Kopano Gumbi on the second day of the Africa Investment Forum held in Sandton.</p>


Africa Investment Forum: Foreign investors look to African assets

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<p>For the past five years, Tembo Power has been developing small hydropower projects, and is now restructuring as a Fund Manager. The Founder of Tembo Power, Raphael Khalifa, spoke to CNBC Africa’s Kenneth Igbomor.</p>


Africa Investment Forum: Tembo Power diversifies into fund management

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<p>Most of the conversations on the power sector at the Africa Investment Forum have been around reform, regulation and renewable energy. CNBC Africa’s Kenneth Igbomor caught up with Angela Nalikka, Division Manager PESD of National &#038; Regional Power Systems for the African Development Bank.</p>


Africa Investment Forum: More needs to be done to increase access and affordability of power – AfDB

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<p>The quality of conversations at the Africa Investment Forum has been impressive, and focussed on transactions that can be transformative for the continent. Ade Ayeyemi, CEO of Ecobank spoke to CNBC Africa’s Kenneth Igbomor, saying that he felt energised by the frank conversations to bring projects to a bankable stage.</p>


Africa Investment Forum: “Conversations at the forum can be transformative for the continent” – Ecobank CEO Ade Ayeyemi


<p>By Morsy Hanan</p>



<p>In many ways, Africa needs trade and investment even more
than it needs development aid. This is reflected by the African Development
Bank’s commitment to explore all the possible options of mobilising domestic
resources. </p>



<p>Africa’s financing needs will remain very
large over the next few decades. Both public and private capital formation will
be necessary to pursue the necessary structural transformation of African
economies into industrial and post-industrial societies. </p>



<p>Governments, of course, remain critical in
sustaining investment in Africa in the coming decades, and external debt
financing is key to supporting basic infrastructure construction and the
provision of standard public services.</p>



<p>Domestic resource mobilization allows Africa to move
towards financial autonomy. In 2015 African tax revenues had more than doubled
in ten years to over $500 billion, almost 3 times higher than the total value
of foreign direct investment, overseas development aid, and remittances. </p>



<p>However Africa can do even better. Much can be done by
improving tax administration. For instance the Republic of Togo’s tax reforms
increased its tax revenues to GDP ratio from 16% in 2010 to 20% in 2015 thanks
to the technical and financial advice of the African Development Bank. </p>



<p>The composition of total financial flows to Africa
reflects the dynamism of its domestic markets. In 2017, total financial inflows
are projected were around $180 billion. Remittances were $66.2 billion, foreign
direct investment inflows were $57.5 billion, supported mainly by greenfield
investments from emerging economies. Tax revenue remains the most important
source of domestic financing in African countries but has slowed down with the
decline in commodity prices. </p>



<p>There is a clear need to continue with the
policy of developing innovative tools to finance development, concentrating on
deepening domestic capital markets and on crowding in private capital through
risk mitigation instruments to unlock resources that can replace debt. </p>



<p>Developing more risk-sharing instruments
with the private sector through pre-financing of future tax revenues,
establishing sovereign insurance contracts, and leveraging government and
multilateral guarantees, will contribute to significant de-risking of private
investments in capital intensive projects. </p>



<p>Private sector participation in infrastructure
development must be increased by putting in place the required regulatory
frameworks and scaling up public–private partnerships. The Bank and other
international financial institutions can help to increase risk-sharing with the
private sector and reduce public borrowing needs. Contingent debt, where
repayment is conditional on the achievement of certain project milestones, can
improve incentives for government officials and private corporations to
complete major projects without delays or quality control problems.
Multilateral lenders can provide benchmarks and guidelines, as well as low-risk
financing tranches for long-term projects. </p>



<p>The Bank can help develop guidelines and
international best practice principles for the design and implementation of
such new instruments to strengthen transparency, protect borrowers against
commodity price downturns, and ensure competitive tender processes across
infrastructure suppliers to optimize the cost of project development. </p>



<p>It can also exploit mutually advantageous
exchanges, such as “natural resources for infrastructure” bargains with
traditional or new bilateral lenders. Resources for infrastructure swaps, where
natural resources revenues are used as collateral or direct repayment
instruments in the financing of large infrastructure projects, can be useful in
fostering economic diversification and in reducing the need for direct foreign
borrowing. </p>



<p>The Bank is also exploring the use of
diaspora bonds to crowd in private sector funds and mobilise domestic and
national resources. Such bonds have already been issued by several African
countries, such as Ethiopia and Nigeria, to tap the increasing flow of
remittances from migrants in advanced economies, and to channel these funds
toward infrastructure investments. The Bank could, for example, provide
guarantees or co-finance part of the return on these bonds to make them
attractive to emigrants and to ensure that they finance efficient investment
projects.</p>



<p>This
is the key to economic transformation – innovation in resource mobilisation and
international investments, presenting a legacy of growth coupled with the
confidence of a new generation of young African entrepreneurs and leaders with
new vision and ambition, incentivised and encouraged to invest and engage in
enterprise and innovation. </p>



<p>A
transformed Africa cannot be dependent upon commodities, or upon foreign aid,
or on handouts of any kind. Africa is quite simply a great investment, a
collective deal with better numbers and potential than a lot of other
investment packages in developed countries. </p>



<p>It
no longer takes an act of imagination to grasp this. It can be seen in the
growing diversification and industrialisation of African economies and the
accelerating progress made towards the achievement of the High 5s. </p>



<p>It
can be seen in the inspirational Africa Investment Forum, where these and many
other ideas and innovations can be appreciated at close hand in the
negotiations and bargaining that characterise good deal making on behalf of
Africa.</p>


Africa Investment Forum

Africa Investment Forum Virtual Boardroom Sessions

African Development Bank Sees 2021 Growth Rebound, Cautions on Growing Inequality

Op-Ed: Gender equality: It’s time for disruption, time to shatter the status quo. We can’t afford to wait!

Africa Investment Forum: $100m African women entrepreneur fund launched

Africa Investment Forum: Alfred Zeufack on what opportunities Africa’s free trade deal brings to the continent

Africa Investment Forum: Bank of Industry’s Olukayode Pitan on agreements signed at the forum

Africa Investment Forum: Unlocking Digital Investments

Africa Investment Forum: We need to translate interests into actual commitments, says AfDB’s Pierre Guislain

Africa Investment Forum: DBSA, East African Community seek to boost infrastructure development with joint MoU

Africa Investment Forum: Unveiling the Boardrooms

Road to Africa Investment Forum: Finding innovative funding solutions to projects in Africa

Africa Investment Forum: Anohu-Amazu: The real work starts after the forum

Africa Investment Forum: Foreign investors look to African assets

Africa Investment Forum: Tembo Power diversifies into fund management

Africa Investment Forum: More needs to be done to increase access and affordability of power – AfDB

Africa Investment Forum: “Conversations at the forum can be transformative for the continent” – Ecobank CEO Ade Ayeyemi

Op-Ed: Raising capital to finance development – the AfDB as innovator and catalyst

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Africa Investment Forum

Africa Investment Forum Virtual Boardroom Sessions

African Development Bank Sees 2021 Growth Rebound, Cautions on Growing Inequality

Op-Ed: Gender equality: It’s time for disruption, time to shatter the status quo. We can’t afford to wait!

Africa Investment Forum: $100m African women entrepreneur fund launched

Africa Investment Forum: Alfred Zeufack on what opportunities Africa’s free trade deal brings to the continent

Africa Investment Forum: Bank of Industry’s Olukayode Pitan on agreements signed at the forum

Africa Investment Forum: Unlocking Digital Investments

Africa Investment Forum: We need to translate interests into actual commitments, says AfDB’s Pierre Guislain

Africa Investment Forum: DBSA, East African Community seek to boost infrastructure development with joint MoU

Africa Investment Forum: Unveiling the Boardrooms

Road to Africa Investment Forum: Finding innovative funding solutions to projects in Africa

Africa Investment Forum: Anohu-Amazu: The real work starts after the forum

Africa Investment Forum: Foreign investors look to African assets

Africa Investment Forum: Tembo Power diversifies into fund management

Africa Investment Forum: More needs to be done to increase access and affordability of power – AfDB

Africa Investment Forum: “Conversations at the forum can be transformative for the continent” – Ecobank CEO Ade Ayeyemi

Op-Ed: Raising capital to finance development – the AfDB as innovator and catalyst

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