Abidjan-Lagos Highway Corridor Attracts $15.5 Billion In Investment At AIF 2023, Says Akinwumi Adesina
Dr Akinwumi Adesina, President of African Development Bank, AfDB, said that the Abidjan-Lagos highway corridor has secured $15.5 billion investment interest.
Mr Adesina said this while welcoming participants at the 2023 Africa Investment Forum, AIF, Market Days in Marrakech, Morocco on Wednesday.
The event has as its theme, ”Unlocking Africa’s Value Chains”.
Mr Adesina said the corridor will transform the entire West African region and speed up regional integration, sustainable economic development and trade.
”In 2022, investment interests were secured for 3.6 billion dollars for the East Africa Railway Corridor, linking Tanzania, Democratic Republic of Congo and Burundi.
”We are delighted that the AIF has so far closed on deals’ investment gaps worth 11 billion dollars.
”This ranged from liquefied natural gas, renewable energy, agribusiness, industrial manufacturing, creative industry, housing, and transport.
“It is time again for investment action, it is time to do it again,” Mr Adesina said.
In support of the Abidjan-Lagos highway corridor and the broader objectives of regional economic integration, His Majesty King Mohammed VI of Morocco commended the Morocco-Nigeria Gas Pipeline Project as a significant initiative to provide reliable energy supplies to countries.
The Africa Investment Forum (AIF) is a pivotal platform where investable projects meet with investors and leaders in investment boardrooms, ensuring that investments are facilitated, risks are managed, and deals are finalized.
Established in 2018, AIF has grown to become Africa’s premier investment platform, with support from key institutions including the AfDB, Islamic Development Bank, European Development Bank, Afreximbank, Trade and Development Bank, Development Bank of Southern Africa, Africa Finance Corporation, and Africa 50.