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Africa Investment Forum 2019: 13 Deals Worth $3B

Africa Investment Forum 2019: 13 Deals Worth $3B

Monday, 25 November, 2019 - 12:00

Thirteen agreements worth USD3 billion have been signed at The Africa Investment Forum (AIF) 2019.

The forum also focused on economic growth and the private sector’s role in achieving sustainable comprehensive development.

It also showcased the available opportunity to launch the investment potentials of the continent and the requirements to increase the private sector’s operations scope.

In his concluding speech on behalf of Egyptian President Abdel Fatah al-Sisi, Prime Minister Mostafa Madbouly said several recommendations have been made, including calls on international funding agencies and sovereign funds to invest in infrastructure projects.

Adam Boehler, Chief Executive Officer of the US International Development Finance Corporation (DFC), announced a commitment to provide USD430 million in insurance to advance energy security in Egypt by rehabilitating a natural gas pipeline and transporting natural gas from fields offshore.

Egypt’s Minister of Investment and International Cooperation Sahr Nasr signed two memorandums of understanding with Angolan Minister of Economy and Planning Pedro Luís da Fonseca and Director-General of Djibouti’s National Investment Promotion Agency Mahdi Darar Obsieh in order to enhance bilateral investment relations.

Nasr signed an agreement with the Kuwaiti Fund for Arab Economic Development to finalize a USD83 million road project within the second stage of the Sinai Development Program.

She also signed another three agreements valuing USD201 million with the European Bank for Reconstruction and Development and the First Development Company to improve electricity networks and establish a new asphalt unit valuing at USD50 million for the Suez Petroleum Company.

An announcement letter between Bank Misr and the Sarwa Capital Holding for Financial Investments was signed by Nasr to issue EGP500 million securitized bonds to the Urban Communities Authority.

The International Islamic Trade Finance Corporation and the Export-Import Bank of Africa signed the first tranche of the Trade and Import Financing Agreement for Africa valuing USD100 million, as part of a USD500 million agreement.

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