This year’s Africa Investment Forum (AIF), set to occur in Rabat, Morocco from December 4th to 6th, garnered $29.5 billion in new investment commitments from various stakeholders for projects throughout the continent.

These commitments were made following the presentation of $40.9 billion in potential deals to investors across 41 focused boardrooms at the forum. Among these, 34 deals were deemed ready for investment, while 7 were still in the initial phases of development.

The event marked the highest participation level since its launch in 2018, drawing in 1,707 investors from 200 institutions across 83 nations.

During the AIF, several key agreements were made. Seedstars Africa Ventures I, a venture capital fund dedicated to early-stage investments in scalable African startups, announced a first close of $42 million, supported by the African Development Bank, EIB Global (through the EU’s ACP Trust Fund and Boost Africa initiative), and other global investors. Additionally, the African Development Bank and Bank of Africa SA concluded a €50 million risk-sharing agreement aimed at enhancing private sector financing and boosting African trade, with a target of generating €200 million in additional trade and supporting SMEs in over 20 African countries.

Moreover, another agreement was reached between the African Development Bank Group, the Development Bank of Southern Africa (DBSA), and institutional investors to explore a multi-originator synthetic securitization initiative designed to mobilize private capital and manage risks for African development finance institutions. This initiative builds on the success of the Bank’s $1 billion Room to Run Programme, creating a platform to unlock lending capacity for impactful projects in climate finance, infrastructure, and financial intermediation.

Momentum for Italy’s Mattei Plan

The AIF featured the signing of an agreement between SACE, an Italian insurance and financial group, and the African Development Bank Group to provide credit protection and foster investments in Africa in line with Italy’s Mattei Plan. This agreement is part of a broader initiative by the Italian Government and the Bank, aimed at supporting major projects in sectors such as infrastructure, agribusiness, healthcare, energy, and education.

The $6 billion Mattei Plan, unveiled earlier this year by Italian Prime Minister Georgia Meloni, seeks to strengthen economic ties and create an energy hub, prioritizing countries such as Algeria, Egypt, Ethiopia, and Morocco. SACE’s financial tools, including the Push Strategy, will promote connections between African buyers and Italian SMEs, consequently enhancing business relations between Italy and Africa.

Adesina urges faith in data

In his opening remarks, Akinwumi Adesina, president and chairman of the board of directors of the African Development Bank Group, emphatically called for increased investment in the continent, urging investors to “trust the data” and overlook widespread misconceptions about Africa. He pointed out that by 2050, Africa will represent a quarter of the global population, drastically increasing demand for goods and services.

“The demand for housing is anticipated to create an investment opportunity of up to $1.4 trillion. The size of Africa’s food and agriculture market is projected to reach $1 trillion by 2030. Furthermore, infrastructure demand represents an annual investment opportunity of at least $170 billion across energy, transport, infrastructure, water sanitation, and other sectors,” he stated, underscoring that “Africa presents a unique investment opportunity that must not be overlooked.”

This year’s forum attracted delegations from a variety of nations, including India, China, and Japan, showcasing the forum’s influence and the growing interest in opportunities within the continent. According to a 2024 survey by the Africa Private Equity Capital Association, Adesina mentioned that 85% of limited partners are planning to boost their allocation of private capital to Africa within two years, and 52% believe that Africa’s private capital will soon be more attractive than that of other emerging markets.

Moreover, with a significant share of key green transition minerals, Africa has a distinctive opportunity to advance in electric vehicle production value, expected to rise from $7 trillion in 2030 to $59 trillion by 2050, he highlighted.

The AIF is a joint initiative by nine development finance institutions, including the AfDB Group, Africa50, Afreximbank, IsDB, DBSA, EIB, TDB, BADEA, and AFC. This year, it also welcomed the Arab Bank for Economic Development in Africa as a new member.