AfDB postpones 2021 Africa Investment Forum on concerns over Covid-19 variant
The African Development Bank Group (AfDB) has postponed the African Investment Forum (AIF) scheduled for December 1- 3, 2021 in Abidjan, Côte d’Ivoire to an unspecified date, due to rising global travel restrictions resulting from the COVID-19 Omicron variant, and heightened concerns for health and safety.
A statement by Akinwumi Adesina, the AfDB president, explained that the decision follows consultations with its AIF partners, and the government of Côte d’Ivoire, over the risk of the newly discovered COVID-19 variant and its impact on global travel, investments and social distancing rules.
According to Adesina, the Africa Investment Forum is the premier investment marketplace for Africa, with several billion dollars of investment projects scheduled for investment board rooms with project sponsors and investors at the 2021 edition.
He, however, explained that the health and safety of expected heads of state and governments, project sponsors, investors, government delegations, and several other participants are of utmost priority to the multilateral organisation, hence the postponement.
“We sincerely regret all inconveniences to our esteemed and expected heads of state and government, participants, project sponsors, investors and government delegations.The African Development Bank Group and the Government of Côte d’Ivoire wish to thank previously expected participants and delegations and look forward to hosting the event at a future date,” he stated.
Business A.M gathered that prior to its postponement, several heads of governments from South Africa, Nigeria, Ghana, Tanzania, Rwanda and Mozambique and a delegation from the United States that included investors representing over $1.6 trillion in assets under management, were expected to attend the forum.
The AfDB also reported that the forum had over 118 deals from all eight founding members, with an investment value worth over $110 billion.