Africa Finance Corporation (AFC), the continent’s leading public-private sector infrastructure finance institution, is scheduled to host a high level Summit in Nigeria’s capital city, Abuja, on 15-16 May.
A statement from AFC says AFCLive2017, will highlight the need to scale-up infrastructure investments across the continent by mobilising international and domestic financial resources, as well as drawing on current case studies and exploring new solutions in project finance.
The summit which is themed: Building tomorrow’s Africa today, will be part of AFC’s 10th anniversary celebrations. Established in 2007, AFC has financed some of Africa’s most outstanding, multi-sectoral infrastructure projects. It has authorised capital of US$2bn, with paid up capital of $1.1bn.
“Infrastructure plays a critical role in growth, competitiveness, job creation, and poverty alleviation,” the AFC notes. “Over 600 million Africans still do not have access to modern energy and the penetration rate for internet is less than 10%, while only a quarter of Africa’s road network is paved. Access to basic infrastructure services remains a critical challenge in Africa, with studies showing that poor road, rail and port facilities add 30% to 40% to the cost of goods traded among African countries, thus adversely affecting private sector development and the flow of foreign direct investment (FDI).”
The summit will include a panel styled discussion and thematic debates, as well as some case studies and interactive discussions centred on the African Infrastructure Revolution.
“The May 2017 summit is designed to provide a unique high-level platform to convene and engage African leaders, business-persons, investors, regulators and policy makers to bring about new solutions to transform African infrastructure,” the AFC says in the statement.
Furthermore, there will be an exhibition and investor summit on day one, along with a networking cocktail reception and a 10th Anniversary dinner.
Day two will feature a series of high-level panel discussions and parallel streams on topical infrastructure development themes and a working dinner that will focus on matchmaking and deal-making between policymakers, potential investors and financiers.
Speakers at the summit include the following: President of the Republic of Ghana, Nana Akufo-Addo; President of Uganda Yoweri Museveni; Andrew Alli President & CEO, AFC and Adebayo Ogunlesi Managing Partner Global Infrastructure Partners, USA.