African Development Bank Plans $67bn Investment Deals for Africa At Forum

Last updated on September 11th, 2021 at 03:14 pm

The African Development Bank has disclosed plans to target projects valued at $67bn with deal makers at its flagship investment conference this week.

According to AfDB President, Akinwumi Adesina, who spoke with journalists in Johannesburg, South Africa, the deal which is targeted at 29 countries across the continent, will range from infrastructure development in energy, financial services, urban housing and small business support.

Adesina said, “The focus is really on the projects that are going to significantly transform the lives of Africans.” Speaking before the commencement of the Africa Investment Forum in Johannesburg on Monday, Adesina disclosed that the forum is part of the Abidjan-based lender’s efforts to narrow Africa’s infrastructure gap of as much as $170bn a year.