Victor Oladokun: Here’s what to expect from the Africa Investment Forum

The Africa Investment Forum is set to be a game-changer in the landscape of investment in the continent, with the aim of tilting capital flow and transforming the face of business. The event, scheduled from 11-13 November 2019 at the Sandton Convention Centre in Johannesburg, South Africa, brings together key players from the public and private sectors to focus on bringing bankable deals to the table. CNBC Africa's Karabo Letlhatlha recently interviewed Victor Oladokun, Director of Communication and External Relations at the African Development Bank, to shed light on the progress and impact of the forum. Oladokun highlighted the significant strides made since the previous year, with 43 deals securing $38.6 billion in investment interest. He emphasized the shift from aid to investment, leveraging the capacities of multiple partners to propel investment opportunities in Africa. The forum aims to change perceptions about investing in Africa, with Oladokun stressing that the continent has been unfairly associated with risk. Through showcasing the returns on investments in countries like Nigeria, Egypt, and South Africa, the forum makes a compelling case for investment in Africa. One of the key aspects of the forum is its focus on partnership with the private sector. Oladokun explained that the African Development Bank provides capital for bankable deals and encourages private sector involvement in sectors like agriculture. He emphasized the importance of moving production processes closer to rural areas to reduce costs and enhance efficiency. The forum's impact extends beyond the event itself, with deals taking time to come to fruition and ongoing support provided through digital platforms. Addressing concerns about the timing and frequency of the forum, Oladokun clarified that the Africa Investment Forum is not a one-time event but a continuous process. It serves as a platform for unveiling deals and commitments, with the closure of deals happening over time. Oladokun also touched on the role of political leadership in creating a conducive investment environment and resolving policy issues to attract capital. As the forum strives to balance investment opportunities across different African countries, capacity building and knowledge sharing play a crucial role. Oladokun highlighted the challenges faced by some countries in bringing bankable projects to the table and emphasized the forum's efforts to bridge gaps and make investments feasible, especially for fragile states or those lacking financial capacity. In conclusion, the Africa Investment Forum represents a significant step towards reshaping the narrative on investment in Africa. By fostering partnerships, showcasing returns on investment, and addressing challenges in project implementation, the forum is poised to drive sustainable development and economic growth across the continent.