The President of the African Development Bank Group Dr. Akinwumi Adesina has given strong assurance to U.S. investors that Africa is a secure, competitive and profitable market for investment.
Adesina was speaking on Wednesday at the U.S.-Africa Business Summit in Marrakech where he told American investors to see Africa as a logical investment destination and to engage with the continent in win-win partnerships.
He said U.S. investments were critical for accelerating infrastructure development on the continent. “This is an opportune time for American investments in Africa, at scale,” Adesina said.
“Tomorrow cannot wait. Africa’s time is now. Africa’s future is bright. We are open for business, and we welcome you with wide open arms.”
Adesina listed some of Africa’s multi-billion investments as proof of the continent’s investment potential. He cited the Dangote Group’s $20 billion petroleum refinery and fertilizer production complex in Nigeria, and South Africa’s MTN Group, which currently operates in 19 markets.
The African Development Bank head said that despite the disruptions of the Covid-19 pandemic and its impact on economies, the number of private equity deals in Africa increased from 230 in 2019 to 255 by 2020, stressing that even in turbulent times, opportunities still abound in Africa.
