Africa50, the pan-African infrastructure investment platform, is holding its 2022 General Shareholders Meeting in Marrakech on July 19-20, 2022.
Placed under the High Patronage of King Mohammed VI, this General Assembly was attended by African Ministers of Finance and other senior government officials representing Africa50's shareholder countries, as well as heads of institutions, the diplomatic corps, and distinguished business leaders from Morocco, Africa and globally.
The Minister of Economy and Finance, Nadia Fettah Alaoui, the President of the African Development Bank (AfDB) and Chairman of the Africa50 Board of Directors, Akinwumi Adesina are among the officials attending the high-level working meeting.
Speaking at the opening session of the General Shareholders Meeting, Africa50 CEO Alain Ebobissé stressed that the use of private investment or public-private partnership (PPP) "is more necessary than ever, to allow public funds to be allocated in priority to investments that do not attract much interest from the private sector."
The role of Africa50 is, therefore, more relevant than ever, as a driver of private and PPP investment in African infrastructure, said Ebobissé, recalling that this pan-African infrastructure investment platform has contributed to more than 16 large-scale, high-impact projects in Africa, with a combined value exceeding 5 billion dollars.
"No nation in the world can develop, create jobs, protect its natural resources and provide opportunities for its people without proper infrastructure," he said, noting that infrastructure is the key to building any strong nation.
For her part, Ms. Florizelle Liser, President of the Corporate Council on Africa, said that the continent can "fulfill the promise of a continental free trade area through strong infrastructure."
She also stressed the importance of holding the U.S.-Africa Business Summit in Marrakech, noting that the CCA works to encourage trade with Africa and to educate the U.S. private sector on the changing business climate in the continent.
"As the U.S. and African partners look to recover from the health and economic impact of the COVID-19 pandemic, this year’s summit provides an excellent opportunity to explore the U.S. and African public and private sectors’ renewed commitment to building stronger economic ties and expanding and deepening the U.S.-Africa trade, investment, and business relationship," Liser said.
Following the opening ceremony, Africa50 shareholders gathered for a closed working session to review Africa50's activities over the past year, approve financial reports, and discuss long-term strategy with management.
After six years of operation, Africa50 has become a key player in attracting infrastructure investment on a commercial basis in Africa to bridge the US$108 billion infrastructure gap.
