Banking & Finance

African Green Infrastructure Investment Bank Announced By Institutional Investors

The African Sovereign Wealth and Pension Fund Leaders Forum announced and presented its Pan African Green Infrastructure Investment Bank (AGIIB) initiative, during The fifty-third session of the Conference of African Ministers of Finance, Planning and Economic Development, hosted by the UN ECA. The AGIIB initiative recognises that the African green finance market, is highly fragmented representing a need to create a world class international pan African investment platform to mobilise this financing market and institutional capital at scale. The Forum’s AGIIB initiatives’ mission, is to create a specialist, independent and commercially run, pan African Green infrastructure Investment Bank, that is both green and profitable, with a pure green focus. The AGIIB initially seeks to raise $3bn-$5bn from African institutional investors and governments and mobilize approximately $20bn from G7 and G20 investment partners. The AGIIB’s model, is based on the successful UK Green investment Bank (UKGIB), model, which was seeded with £3.8bn of UK government capital, that has been admired and copied around the world. Africa needs $100bn per annum for the next 10 years, to address energy poverty across the continent, whilst at the same time has enormous renewable energy potential in the form of 10 terawatts of solar, 350 gigawatts of hydro and 15 gigawatts of geothermal. The Forum has established a high-level working group of African and international institutional investment leaders, governments and technical advisors, to structure the platform and present it during the upcoming African Union (AU), G7, G20 and COP 26 Summits. The AGIIB initiative also offers technical assistance opportunities for development partners, to participate in the set-up funding arrangements, where their mandates support catalyzing long-term domestic and international institutional capital for green infrastructure, to assist the continent’s post Covid-19 economic recovery.
We are proud to play our role as the continents institutional investment community, to champion and create a specialist green infrastructure investment platform, that supports the continents green transition, creates jobs, increases the continents share of the industrial green global economy, whilst at the same time delivers globally competitive risk adjusted returns for its investors.
– Hubert Danso, Chairman, African Sovereign Wealth and Pension Fund Leader’s Forum
The AGIIB initiative, was presented at a side event, held under the theme: ‘Institutional Investors and Green Investments in the Context of COVID-19, during The fifty-third session of the Conference of African Ministers of Finance, Planning and Economic Development, hosted by the UN ECA. For more information on the African Green Infrastructure Investment Bank (AGIIB), contact: Mr. Hubert Danso, Chairman, African Sovereign Wealth and Pension Fund Leader’s Forum – Email: wedwards@africainvestor.com About the African Sovereign Wealth and Pension Fund Leaders Forum The African Sovereign Wealth and Pension Fund Leaders Forum, comprises the CEO’s, Chairmen and CIO’s, of Africa’s pre-eminent sovereign wealth and pension funds, determined to form new and innovative multi-stakeholder partnerships, to address climate change, the economic fallout of COVID-19, increase investment in African infrastructure, and realize the aspirations of the African Continental Free Trade Area (AfCFTA). To find out more, visit www.aiswpff.com https://youtu.be/8rEU9Za_YsM
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African Green Infrastructure Investment Bank Announces $20trn Advisory Board At G7 – Africa Investor Summit

Cornwall, Addis Ababa, Johannesburg, Cairo, Paris, Washington
  The African Green Infrastructure Investment Bank (AfGIIB), today announced its Advisory Board of African and global institutional investment leaders, representing over $20trn of assets under management and advisement. The announcement took place during the G7-Africa investor Summit, held in association with the G7’s institutional Investor Leaders Network (ILN), on the sidelines of the G7 Summit in Cornwall. African sovereign wealth and pension funds have been crucial to form new and innovative multi-stakeholder partnerships; that address climate change; the economic recovery of COVID-19; increase investment in African infrastructure; and realize the aspirations of the African Continental Free Trade Area (AfCFTA). The African Green Infrastructure Investment Bank (AfGIIB) initiative is an African Union-convened, African institutional investor-led, global finance initiative, to catalyze private capital for Africa’s green transition, in the run up to COP27 in Africa and beyond. The AfGIIB was announced during the March 2021 Conference of African Ministers of Finance, Planning and Economic Development, hosted by the United Nations United Nations Economic Commission for Africa. The AfGIIB initiative recognizes that the African green infrastructure finance market is highly fragmented, representing a need to create a world class international pan African investment platform to mobilize this financing market and institutional capital at scale. The AfGIIB’s mission, is to create a specialist, independent, catalytic and commercially run, pan African Green infrastructure Investment Bank, to catalyze private capital to accelerate Africa’s green transition. The AfGIIB will also assist the continent and investors address:
AfGIIB announced during the Conference of African Ministers of Finance, Planning and Economic Development, hosted by the United Nations United Nations Economic Commission for Africa, that its immediate priority would be to establish a high-level Advisory board of African and international institutional investment leaders, governments and technical advisors, to structure the platform and present progress updates, during the upcoming African Union (AU), G7, G20, COP26 Summits.
“We fully support the establishment of the African Green Infrastructure Investment Bank (AfGIIB) initiative and the announcement of its Advisory Board. I further thank all of you distinguished leaders who have agreed to serve on its advisory board. “ Dr Ibrahim Mayaki, CEO, The African Union Development Agency (AUDA)
During the G7-Africa investor Summit, held in association with ILN, AfGIIB unveiled its prestigious Advisory Board Members, which include:
AfGIIB Strategic Advisors
“The AfGIIB is honored to count such accomplished and committed African and global institutional investment and public sector leaders, on its prestigious Advisory Board, to champion and create a specialist green infrastructure investment platform, that supports the continents green transition, creates jobs, increases the continents share of the industrial green global economy, whilst at the same time delivers globally competitive risk adjusted returns for its investors. The AfGIIB Advisory Board will also be a powerful green investment mobilization sounding board, for the continent, as we prepare to take over the COP26 process in November, and host an outstanding and green finance friendly COP27 next year on African soil.” Hubert Danso, Chairman, Ai
For more information visit:  www.afgiib.com
AFRICAPLC.COM
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Curtain falls on the African Development Bank 2020 Annual Meetings as Governors endorse President Adesina’s bold development program

Adesina: "I am deeply grateful for the collective trust, strong confidence and support of our shareholders”

ABIDJAN, Ivory Coast, August 28, 2020/APO Group/ -- Newly reelected African Development Bank (AfDB.org) President Akinwumi Adesina voiced great optimism about Africa’s future as the institution closed its 55th Annual meetings. The Bank’s Board of Governors today unanimously voted for a second five-year term for Adesina, giving him a mandate to renew a focus on the institution’s priorities, including closer continental integration, boosting renewable energy sources and developing infrastructure. The election of the president was the centerpiece of the two-day meetings, held virtually for the first time in the Bank’s history amid the ongoing COVID-19 pandemic. The pandemic formed a backdrop that underscored the Bank’s critical leadership role in assisting African countries to marshal responses to its health and economic impacts. A wider commitment to grow Africa’s resilience by building back its economies post-pandemic with an eye to mitigating climate change and assuring more equitable growth, is also an important agenda for the Bank. In a 16-point communique, Governors lauded the Bank’s swift response to the pandemic, endorsed its strategic priorities, and urged greater emphasis on building out primary healthcare infrastructure and supporting member countries meet their Paris Agreement commitments. “We urge the Bank Group to deepen its collaboration with the African Union and the Regional Economic Communities (RECs) to fast-track Africa’s integration and economic and social transformation particularly in view of the implementation of the African Continental Free Trade Area, which has the potential to increase growth, enhance competitiveness, improve the business climate, as well as ensure greater investment and development of regional and continental global value chains,” the communique stated. In closing remarks, Chairperson of the Board of Governors, Niale Kaba, the Ivorian Minister of National Planning, noted the Governors achieved consensus.
“I note with satisfaction that we were able together to face up to all of these challenges. Let me seize this opportunity to tell you this was the outcome of collective work and I was able to benefit from the wise advice of many regional and non-regional governors for us to be able to reach a common ground.” Kaba also observed that the meeting’s virtual format had deprived Cote d’Ivoire of the opportunity to showcase its beauty to visitors. The Minister, whose term as Chairperson has come to an end, commended Bank Secretary General Vincent Nhemielle for his partnership and dynamism in organizing the meetings virtually. She also congratulated Adesina on his re-election. He is the Bank’s eighth elected president and the first Nigerian to hold the post. “I am deeply grateful for the collective trust, strong confidence and support of our shareholders for electing me for a second term as President,” Adesina said. “It is yet another call for selfless service to Africa and the African Development Bank, to which I will passionately devote myself. “I look forward to working closely with each and every one of you for the urgent and difficult task of supporting Africa to build back better, smarter and boldly from the COVID-19 pandemic.” Adesina's first term focused on the High 5 priorities: Light up and Power Africa; Feed Africa; Industrialize Africa; Integrate Africa; and Improve the Quality of Life for the People of Africa. Bank Governors are typically the finance and economy ministers or Central Bank Governors of the 54 African regional member countries and 27 non-regional member countries. Ghana’s Foreign Minister Kenneth Ofori-Atta assumed the Chairmanship of the Board of Governors from Niale. “It is with great honor and humility that I accept on behalf of the Republic of Ghana to chair the Board of Governors and host the Annual Meetings for 2021,” Ofori-Atta said. The 2021 Annual meetings will be held next May in Accra, Ghana.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact: Olufemi Terry Senior Editor Communication and External Relations Department o.terry@afdb.org About the African Development Bank Group: The African Development Bank Group (AfDB.org) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: AfDB.org
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Dr. Akinwumi Adesina re-elected as President of the African Development Bank Group

The election took place on the final day of the 2020 Annual Meetings of the African Development Bank Group

ABIDJAN, Ivory Coast, August 27, 2020/APO Group/ -- Dr. Akinwumi A. Adesina has been re-elected to serve a second fiveyear term as President of the African Development Bank Group (AfDB.org) on Thursday, August 27, 2020 by the Board of Governors of the Bank. A globally renowned development economist and a World Food Prize Laureate and Sunhak Peace Prize Laureate, Dr. Adesina has distinguished himself in driving a bold agenda to reform the Bank and accelerate Africa’s development. He was first elected as President of the Bank on May 28, 2015. As newly re-elected President, Dr Adesina, a former Nigerian Minister of Agriculture, will begin his new term on September 1, 2020. The election result, which gave him a hundred percent of votes of all regional and non-regional members of the Bank, was announced by the Chairperson of the Board of Governors of the Bank, Mrs. Niale Kaba, Minister of National Planning of Côte d’Ivoire. The election took place on the final day of the 2020 Annual Meetings of the African Development Bank Group, which was held virtually for the first time in the Bank’s history. Minister Niale Kaba, said, "I am delighted that the Board of Governors have re-elected Dr. Adesina for a second term in office as President. As shareholders, we strongly support the Bank and will give him all the necessary support to carry forward and implement his compelling vision for the Bank over the next five years.”
Adesina's first term focused on the bold new agenda for the Bank Group based on five development priorities known as the High 5s: Light up and Power Africa; Feed Africa; Industrialize Africa; Integrate Africa; and Improve the Quality of Life for the People of Africa. During Adesina’s first term, the Bank achieved impactful results on the lives of 335 million Africans, including: 18 million people with access to electricity; 141 million people benefiting from improved agricultural technologies for food security; 15 million people benefiting from access to finance from private investments; 101 million people provided with access to improved transport; and 60 million people gaining access to water and sanitation. The Bank has maintained its AAA-ratings by all major global credit rating agencies for five years in a row. The Board of Governors of the Bank Group approved a 125% increase in the General Capital of the Bank, raising its capital from $93 billion to $208 billion, the largest in the history of the Bank. The African Development Fund received a $7.6 billion pledge from donors, a 32% increase, for support to lowincome countries and fragile states. The Bank was ranked the 4th most transparent institution globally by Publish What You Fund, bolstering its strong governance credentials for transparency and accountability. Under Adesina’s leadership, the African Development Bank’s Board of Directors approved a $10 billion facility to support African countries to address the COVID-19 pandemic. The Bank also launched a $3 billion COVID-19 social bond on the global capital markets, the highest US dollar denominated social bond ever in world history, which is listed on the London Stock Exchange, Luxembourg Stock Exchange and NASDAQ. Adesina said, “I am deeply grateful for the collective trust, strong confidence and support of our shareholders for electing me for a second term as President. It is yet another call for selfless service to Africa and the African Development Bank, to which I will passionately devote myself.” The African Development Bank is Africa’s premier development finance institution, comprising 54 regional and 27 non-regional member countries. “The future beckons us for a more developed Africa and a much stronger and resilient African Development Bank Group. We will build on the strong foundations of success in the past five years, while further strengthening the institution, for greater effectiveness and impacts,” Adesina said.
Distributed by APO Group on behalf of African Development Bank Group (AfDB).
Media Contact: Nafissatou Diouf Ag Director Communication and External Relations Department African Development Bank email :n.diouf@afdb.org About the African Development Bank Group: The African Development Bank Group (AfDB.org) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: AfDB.org
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African Union Commission inaugurates African Continental Free Trade Area (AfCFTA) permanent secretariat as launchpad for Africa’s economic transformation

The African Development Bank Group provided a $5 million institutional support grant to the AU towards the establishment of the AfCFTA secretariat

ABIDJAN, Ivory Coast, August 18, 2020/APO Group/ --  At a ceremony on Monday to commission the permanent secretariat of the African Continental Free Trade Area (AfCFTA), Ghana’s President Nana Akufo-Addo and Moussa Faki Mahamat, chairperson of the AU Commission, reiterated the importance of the body to the continent’s economic transformation agenda.

“The economic integration of Africa will lay strong foundations for an Africa beyond aid. Africa’s new sense of urgency and aspiration of true self-reliance will be amply demonstrated by today’s ceremony,” Akufo-Addo said.

Ghana was selected as the venue for the headquarters by African leaders during a Summit of AU Heads of states in Niamey in July last year, to launch the implementation phase of the agreement, which is expected to spur regional trade among member countries. Currently, 54 states have signed on to AfCFTA, out of which 28 have ratified.

President Akufo-Addo appealed to member states that have not ratified to do so before the next AU summit in December, “to pave the way for the smooth commencement of trading from 1 January 2021.”

The COVID-19 pandemic has heightened the importance of the success of the AfCFTA, the Ghanaian president said. “The destruction of global supply chains has reinforced the necessity for closer integration amongst us so that we can boost our mutual self-sufficiency, strengthen our economies and reduce our dependence on external sources,” he said.

AfCFTA, the world’s largest free trade area, has the potential to transform the continent with its potential market of 1.2 billion people and combined GDP of around $3 trillion across the 54-member states of the AU. Mahamat said the opening of the secretariat marked a milestone in the vision of Africa’s founding founders for continental integration. Wamkele Mene, the first Secretary-General of the AfCFTA, said the agreement offered an opportunity for Africa to confront the significant trade and economic development challenges: market fragmentation, small national economies, over-reliance on primary commodity exports, narrow export base, lack of export specialization, under-developed regional value chains and high regulatory and tariff barriers to trade. “We have to take action now. We have to take action to dismantle the colonial economic model that we inherited,” Mene reiterated. The African Development Bank Group provided a $5 million institutional support grant to the AU towards the establishment of the AfCFTA secretariat which is located in an ultra-modern office complex in the central business district of the Ghanaian capital. “The African Development Bank congratulates the AU/AfCFTA on the investiture of the Secretariat hosted by Ghana on 17 August 2020.The Bank is delighted to be associated with this groundbreaking, game-changing, transformational continental initiative in furtherance of the objective to create the Africa we want,” said Solomon Quaynor, the Bank’s Vice-President for the Private Sector, Infrastructure and Industrialization. “Our support to the AfCFTA is in keeping with the Bank’s role of continental leadership in helping to build special-purpose vehicles that are critical to the successful implementation of crucial institutions to accelerate Africa’s economic development objectives,” Quaynor added. The event also featured virtual goodwill remarks from AU Chairman, President Cyril Ramaphosa of South Africa, and Nigerien President Mahamadou Issoufou.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Media Contact: Kwasi Kpodo Communication and External Relations Department African Development Bank Email: w.kpodo@afdb.org

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African institutional investors call for partnerships to build resilient economies

The African Sovereign Wealth and Pension Fund Leaders Forum has today issued a Call to Action to build resilient African economies. Noting the potential for devastating economic impacts on the African continent by the novel coronavirus (COVID-19) pandemic

The Forum, comprised of leaders of Africa’s pre-eminent sovereign wealth and pension funds, are determined to form new and innovative multi-stakeholder partnerships to address the economic fallout of COVID-19, increase investment in African infrastructure, and realise the aspirations of the African Continental Free Trade Agreement (AfCFTA).

The Call to Action, supported by an array of organisations including the International Chamber of Commerce and the African Union’s Continental Business Network, recognises that efforts must be informed by two urgent and mutually reinforcing components: *immediate priority responses to protect African capital markets, micro-, small- and medium-sized enterprises (MSMEs), regional supply chains and the AfCFTA from the economic fallout of COVID-19; and *multi-stakeholder partnerships across government and industry to foster industry shifts and a regulatory requirement fit for African economies and industries to stabilise, grow and thrive.

Commenting on the Call to Action, Hubert Danso, the Chairman of the African Sovereign Wealth and Pension Fund Leaders Forum said:

“COVID-19 is both a health and an economic crisis. As custodians of the livelihoods of millions of Africans, we are acutely aware of the economic difficulties to come. That is why we’re issuing this call – to work with policymakers and development financial institutions to co-create the conditions necessary for post-pandemic economic recovery.”

Read the full Call to Action here.

For more information contact: Hubert Danso, CEO and Chairman, Africa investor, Chairman, African Sovereign Wealth and Pension Fund Leaders Forum Email: amofokeng@africainvestor.com www.aiswpff.com
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ICC joins global trade organisation heads for summit on impact of COVID-19 on Africa

ICC Secretary General John W.H. Denton AO, participated in a historic summit this week to discuss the impact of COVID-19 on the African Continental Free Trade Area (AfCFTA).

Convened by Africa investor (Ai), the Summit brought together the heads of global trade organisations and recognised the importance of pioneering partnerships and collaboration with the private sector and international organisations in restoring trade confidence and flows in the fight against COVID-19, and in building trade resilience in anticipation of future pandemics.

The importance of accelerating the adoption of African eTrade, Paperless Customs and RegTech innovation also featured highly on the agenda.

“We are delighted to partner with Africa investor,” Mr Denton said. “ICC remains committed to addressing issues impacting the private sector in Africa through pioneering collaboration and our growing presence and outreach on the continent.”

The Summit was Chaired by Chaired by Hubert Danso, CEO and Chairman, Africa investor (Ai), Chairman, African Union Continental Business Network (CBN). Participants included Wamkele Mene, Secretary General, African Continental Free Trade Area (AfCFTA) Secretariat, Kunio Mikuriya, Secretary General, World Customs Organization (WCO), Yonov Frederick Agah, Deputy Director-General, World Trade Organization (WTO), Vinco David, Secretary General, Berne Union and Hennie Heymans, CEO, DHL Express Sub Saharan Africa.

The Summit, which took place on 30 April, highlighted the urgent need for harmonised regulation to help the African private sector – in particular SME’s – to digitise their businesses, to be able to trade and compete in the ‘Post COVID-19 Contactless Economy’, where ‘Trade and Customs Distancing’ will be the new normal.

The African private sectors’ AfricaPLC Industrial eTrade Platform initiative was welcomed as a critical African eTrade and Finance enabler. The initiative is supported by ICC, Ai, DHL, the Chartered Institute of Purchasing and Supply (CIPS), Standard Bank, the African Union Development Agency (AUDA) Continental Business Network (CBN), ABSA and Trade Development Bank.

The virtual summit saw commitment from leaders to collaborate on a range of trade initiatives to combat COVID-19 and build trade resilience in Africa, in support of the implementation of the African Continental Free Trade Area (ACFTA).

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Africa investor (Ai) Convenes Heads of Global Trade Organisations Summit on the African Continental Free Trade Area (AfCFTA)

Africa investor (Ai) confirmed today it convened an historic Summit with the heads of global trade organizations, to discuss partnerships and the impact of COVID-19 on the African Continental Free Trade Area (AfCFTA).

The Summit was Chaired by Hubert Danso, CEO & Chairman, Africa investor (Ai), Chairman, African Union Continental Business Network (CBN) and included Wamkele Mene, Secretary General, African Continental Free Trade Area (AfCFTA) Secretariat, John Denton, Secretary General, the International Chamber of Commerce (ICC), Kunio Mikuriya, Secretary General, World Customs Organization (WCO), Yonov Frederick Agah, Deputy Director-General, World Trade Organization (WTO), Vinco David, Secretary General, Berne Union and Hennie Heymans, CEO, DHL Express Sub Saharan Africa.

The Summit was convened as leaders’ recognized innovative partnerships and collaboration with the private sector and international organizations, will be critical to restoring trade confidence and flows in the fight against COVID-19 and in building trade resilience in anticipation of future pandemics.

The importance of accelerating the adoption of African eTrade, Paperless Customs and RegTech innovation featured high on the leaders’ agenda.

Leaders highlighted the extent to which the COVID-19 pandemic has created an urgent need for harmonized regulation to support the African private sector, especially SME’s, digitize their businesses, to be able to trade and compete in the ‘Post COVID-19 Contactless Economy’, where ‘Trade and Customs Distancing’ will be the new normal. The African private sectors’ AfricaPLC Industrial eTrade Platform initiative, supported by: Ai, DHL, ICC, Chartered Institute of Purchasing and Supply (CIPS), Standard Bank, the African Union Development Agency (AUDA) Continental Business Network (CBN), ABSA and Trade Development Bank, was welcomed as a critical African eTrade and Finance enabler.

The leaders renewed their commitment to collaborate on an array of strategic trade initiatives to combat COVID-19 and build trade resilience in Africa, in support of the implementation of the African Continental Free Trade Area (ACFTA).

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Africa.com – President of Ghana to Speak at Africa.com Webinar on Crisis Management for African Business Leaders

Johannesburg, South Africa, April 25, 2020 - / The President of Ghana, Nana Addo Dankwa Akufo-Addo, will address what is possibly the largest ever gathering of senior African business leaders.  The media holding company, Africa.com, has produced a webinar series, Crisis Management for African Business Leaders, to address the unprecedented challenges African executives are facing during the COVID-19 pandemic. Over 3,000 participants are expected from 81 countries - 41 countries on the African continent + 40 countries throughout the world.

President Akufo-Addo will be the lead speaker on a panel moderated by Hakeem Belo-Osagie, Chairman of FSDH Holding Company and Harvard Business School Senior Lecturer of Business Administration.  The panel, “This Isn’t the West - How Africa’s Informal Sector Responds to COVID-19” will also feature The Honorable Nasir El-Rufai, Governor of Kaduna State, Nigeria; Ahmed Mushfiq Mobrarak, Professor of Economics, Yale University; and Amandla Ooko-Ombaka, Senior Engagement Manager, McKinsey & Co.

The participants in the webinar are comprised of many of the most senior private sector players on the continent, most of whom carry one of the following titles: CEO, chair, managing director, president, principal, partner, CFO, chair, finance director, chief, director, executive director, group head, general manager or manager.   In addition, participants include senior government officials, leading academics, and heads of non-profit organizations.

Africa.com Chair and CEO Teresa Clarke commented: “President Akufo-Addo’s leadership of the pandemic has been tailored to the unique social, economic and cultural conditions of his country.  We are very pleased that President Akufo-Addo has accepted our invitation to address the pan-African business community about this critical issue, and provide his perspective on how African leaders in both the public and private sectors may navigate these complex choices.”

“This isn’t the West - How Africa’s Informal Sector Reacts to COVID-19” will take place on Wednesday, April 29 at 9:00 EDT (New York |14:00 WAT (Nigeria/UK)  15:00 CAT (South Africa) |16:00 EAT (Kenya).

The panel discussion is part of a four part series on crisis management developed by Africa.com and faculty members from Harvard Business School. For more information and free registration, please visit virtualconferenceafrica.com.

About Africa.com Africa.com is a media holding company with an array of platforms that reach a global audience interested in African business and lifestyle. Interests include Africa.com Business Publishers’ Network, the website at www.africa.com, the website at www.iafrica.com, email newsletters, various social media platforms, and internet domain names ending with the “.africa.com” extension. Africa.com operates from Johannesburg, Lagos, and New York, and has a presence in Cape Town and Nairobi.

Media Inquiries Laura Joseph Phone: +27 82 332 0473 Email: laura.joseph@africa.com

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African Sovereign Wealth and Pension Fund Leaders Refine COVID-19 Response Recommendations

African Sovereign Wealth and Pension Fund Leaders Refine COVID-19 Response Recommendations

Africa investor (Ai) today convened the 2nd African Sovereign Wealth and Pension Fund Leaders Forum COVID-19 Virtual Round-table, an exclusive Forum of the continent’s most influential Chairmen, CEO’s and CIO’s of African Sovereign Wealth and Pension Funds, to discuss the role and response of African institutional

investors in the fight against the COVID-19 pandemic across Africa.

The Forum was Co-Chaired by Hubert Danso, CEO and Chairman Africa investor Group (Ai), Chairman, African Sovereign Wealth and Pension Fund Leaders Forum and Uche Orji, CEO of the Nigerian Sovereign Investment Authority.

Roundtable participants discussed refining and giving structure to the areas of focus raised in the inaugural roundtable, which were based on the following 2 thematic areas of focus:

  1. Immediate Priority Responses, to protect African capital markets, SME’s, Supply Chains and the African Continental Free Trade Area (ACFTA) from the economic fallout of Covid-19
  2. Partnerships with Regulators, to foster industry shifts and the next normal regulatory environment required for African economies and industry to thrive and grow.

The following 7 Recommendations were generated as result of the discussion:

  • Recommendation 1: Collaborate on assisting SME supply chain and trade support through digitization (trade and fintech - esp healthcare and agriculture related),
  • Recommendation 2: Pursue ESG compliant infrastructure co-investment partnerships, (energy/healthcare/agri)
  • Recommendation 3: Develop and communicate seminal pandemic combative institutional investment models
  • Recommendation 4: Champion Institutional Investor research insights,
  • Recommendation 5: Motivate governments to consider directing some of their Quantitative Easing/Emergency funding towards SWF’s to allocate and invest into their local and regional economies
  • Recommendation 6: Engage in policy partnerships with Central Bank Governors on framing the new regulatory environment and investment needs of the post COVID-19 economy
  • Recommendation 7: Coordinate and correlate responses with global peer institutional investor and private sector industry bodies.

Africa’s institutional investment community, which are responsible for hundreds of billions of dollars of assets, which they manage and invest on behalf of their members and future generations, reaffirmed their commitment to support African governments and policy makers with planning and executing economic recovery programmes, so African economies can stabilize, grow and thrive in the new post COVID-19 economy.

The Round-tables Recommendations will form the basis an industry  Statement, that will be shared with African Heads of State, Central Bank Governors, Development Partners and Industry Peers.

For more information contact: Hubert Danso, CEO and Chairman, Africa investor, Chairman, African Sovereign Wealth and Pension Fund Leaders Forum Email: amofokeng@africainvestor.com

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