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Africa forum attracts N13.6trn for Lagos-Abidjan road, others

The Africa Investment Forum (AIF) virtual boardroom sessions have drawn $32.8 billion (N13.6 trillion ) in investment interest in bankable projects, including a $15.6bn fund…

The Africa Investment Forum (AIF) virtual boardroom sessions have drawn $32.8 billion (N13.6 trillion ) in investment interest in bankable projects, including a $15.6bn fund for the Lagos-Abidjan highway project.

Unveiling the results of the forum’s virtual sessions at the weekend, the African Development Bank (AfDB) group president, Dr Akinwumi A. Adesina, said, “In 72 hours, you all connected, you struck deals and you created success.”

The three-day virtual boardroom meetings showcased 40 projects across several sectors, with 500 project sponsors, investors, deal brokers and government representatives from around the world.

Describing the mood in the boardroom sessions, Alain Ebobissé, CEO of Africa50, said, “There were real and exciting deals that were transacted. We’re seeing a lot of interests from the private sector in various sectors, including power – particularly renewables, ICT and telecom sector and healthcare.

“We need to make sure we speed up the implementation of that so that success will generate more success.”

The largest investment opportunity in the boardroom sessions was the Lagos-Abidjan highway corridor project valued at $15.6bn and led by the Economic Community of West African States (ECOWAS) Commission.

Once completed, this Public-Private Partnership (PPP) project will link Abidjan and Lagos via Accra, Lomé and Cotonou along the West African coast.

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