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AfDB, ICF call on Africa to deliver greater investment

AfDB, ICF call on Africa to deliver greater investment

Photo by Bloomberg

8th June 2015

By: Megan van Wyngaardt

Creamer Media Contributing Editor Online

  

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To create debate on the state of Africa’s investment climate and the lessons learnt, as well as offer solutions to existing constraints, the African Development Bank (AfDB) and Investment Climate Facility for Africa (ICF) have organised a joint side event on the margins of AfDB’s 2015 Annual Meetings, held in Abidjan, Côte d’Ivoire.

The ‘Investment Climate: The Journey So Far’ event sought to mobilise the private and public sector, as well as movers and shakers, to play a role in delivering greater domestic and foreign investment, with important long-term benefits for inclusive growth.

AfDB VP Aly Abou Sabaa congratulated the ICF on the “immense” contribution it had made in improving Africa’s investment climate, thus far.

He reiterated the bank’s commitment to partnering with the ICF going forward and challenged African governments, the African private sector and existing and potential new contributors to support this.

The ICF maintained that the success of Africa's socioeconomic development aspirations would depend on the level of private sector activity and a smooth public–private engagement, which required a commitment from African governments and institutions to implement investment climate reforms.

Edited by Chanel de Bruyn
Creamer Media Online Managing Editor

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