The African Development Bank (AfDB), the continent’s largest development finance institution, has pledged to make its inaugural Africa Investment Forum a "deal-making conference" that is focused on transactions rather than on "general conversations around issues". The objective of the forum, which takes place in Johannesburg in November, was to close deals, Josephine Ngure, deputy director-general at the bank, said on Wednesday. In his drive to raise $100bn in new investment over the next five years, President Cyril Ramaphosa will hold an investment summit in October. On Tuesday, ahead of the 10th Brics summit, Ramaphosa and his Chinese counterpart, Xi Jinping, announced a $14.2bn investment in SA from Asia’s most populous nation. The forum would support Ramaphosa’s summit, as the AfDB routinely aligned with the goals of individual African governments, Ngure said. While countless conferences promoting African investment opportunities are held annually, the continent attracted just 3...
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