Invest in Africa

The African Development Bank (AfDB) and Deposits and Loans Fund (CDP) are investing up to 400 million euros to support the African private sector through the Growth and Resilience platform for Africa, aiming to mobilize a total of 750 million euros for initiatives in food security, SME growth, and sustainable infrastructure. Meanwhile, British International Investment (BII) has committed £725 million to sustainable development in Africa in 2023, focusing on climate finance and support for local businesses. The International Finance Corporation (IFC) is emphasizing the importance of digitalization and access to finance for SMEs in West Africa to stimulate economic growth. Challenges remain in promoting local content and supporting private investments, as highlighted by the struggles of investors like Aliko Dangote and Tony Chinyere against bureaucratic obstacles. Recent conferences in Africa and the Caribbean addressed shared issues of climate change impacts and the need for financial reform, with AfDB's president advocating for Africa's proactive role in its development. Both regions face significant threats from climate crises, underscoring the urgent need for a transformed global financial architecture to support their growth.