It was in Rabat, the city of lights, where the 5th edition of the Invest in Africa Forum 2024 was held. This event successfully brought together a range of business leaders, investors, and banking officials from around the world. During the closing ceremony, Akinwumi Adesina, President of the African Development Bank (AfDB) Group, proudly announced that this edition had mobilised a total of 29.2 billion US dollars in investments, an unparalleled feat.
According to Adesina, this amount represents firm commitments for various strategic projects across Africa. Among the flagship projects, the Moroccan National Railways Office (ONCF) presented a project requiring 8.8 billion dollars in funding, while the commitments made by the African Development Bank and its partners reached nearly 14 billion dollars. These investments will cover a wide range of sectors, including transport, energy, agriculture, urban infrastructure, tourism, and water resource management.
« This forum represents a unique opportunity for Africa to position itself as a major player on the global investment stage », declared Akinwumi Adesina, highlighting the solidarity of the innovative partnerships established during this event. He also specified that the funded projects encompass varied sectors, ranging from renewable energies to the pharmaceutical industry, and including projects in the private sector and public infrastructure.
This edition of the forum, which took place in Rabat, was also an opportunity to salute the role of Morocco's leadership in the economic development of the African continent. Nadia Fettah Alaoui, Morocco's Minister of Economy and Finance, highlighted the importance of this event for the Kingdom's economic diplomacy. She announced a 60% increase in the number of participants compared to the previous edition in Marrakech, specifying that this forum has become an unmissable event for global investors.
« Morocco, under the enlightened leadership of the King, continues to play a leading role in Africa, not only as a major investor but also as a host platform for large-scale projects in Africa and beyond », indicated the Minister. She reiterated that several major Moroccan public institutions were present, highlighting structuring projects for the Kingdom and the continent.
The projects presented at the forum cover a wide range of economic sectors, with investments in areas such as sustainable agriculture, energy infrastructure, industrial transformation, and natural resource management. The transport sector, notably the ONCF project, attracted particular interest, with massive funding planned to modernise railway infrastructure.
For its part, the energy sector also attracted the attention of investors, particularly in the field of renewable energies, where Morocco plays a key role as a pioneer in Africa with projects like the Noor solar complex. These initiatives are in perfect alignment with sustainable development goals and the growing needs for clean energy across the continent.
The Invest in Africa Forum 2024 was a turning point for Africa's economic development. The announced investments will not only boost key sectors for the continent's future but also strengthen economic ties between African countries and the rest of the world. With a record participation of 83 countries, including leading American banks, this year's edition testifies to Africa's growing appeal as an investment destination.
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