European Investment Bank’s Ambroise Fayolle talks about investment opportunities in Africa

European Investment Bank vice-President, Ambroise Fayolle, spoke to CNBC Africa at the inaugural Africa Investment Forum about the various investment opportunities in Africa. Fayolle emphasized the EIB's commitment to investing in Africa, highlighting the bank's focus on sectors such as renewable energy, green projects, and sustainable development. He mentioned that the EIB has been active in Africa, with an average annual investment of 2 billion euros in the continent. Fayolle discussed the importance of funding green projects through initiatives like sustainable awareness bonds and green bonds. He stressed the need to encourage investments in emerging economies to finance climate projects. The EIB has been co-financing funds with partners like the IFC and Swiss cooperation to support green bond issuance in developing countries. In terms of attracting more investments to Africa, Fayolle pointed out the significance of events like the Africa Investment Forum. He highlighted the role of partnerships in financing projects, mentioning that the EIB never finances more than 50% of a project and relies on collaborations with other public and private institutions. Fayolle also emphasized the need for innovative financing solutions to boost investments in Africa. When asked about potential investment sectors in Africa, Fayolle stated that the EIB evaluates projects based on their bankability and focuses on priority sectors like climate change, health, and the development of small and medium enterprises (SMEs). He emphasized the importance of supporting SMEs for employment generation in Africa. Regarding specific deals in South Africa, Fayolle mentioned that the EIB had engaging discussions during the forum and hinted at possible upcoming announcements. While he did not disclose details, he expressed optimism about the potential for new deals in the region. Overall, Fayolle's insights shed light on the EIB's ongoing efforts to support sustainable development and economic growth in Africa through strategic investments and partnerships.