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African leaders call for African private sector development focus at World Bank Annual Meetings-Africa investor CEO Investment Summit
By Staff Reporter | October 11, 2013
Johannesburg, Washington, 11 October 2013: Africa investor (Ai), a leading international investment and communications group, yesterday announced that the Africa investor-World Bank Group Africa CEO Investment Climate Summit has successfully brought together over 150 of the continent’s most influential business and government leaders to assess the factors influencing and improving Africa’s investment climate at the World Bank Annual Meetings in Washington DC.
The Africa investor CEO Summit was opened by Hubert Danso, CEO of Africa investor, and included keynote statements from Makhtar Diop, VP for Africa, World Bank, and Jean-Philippe Prosper, VP, Sub-Saharan Africa, Latin America and the Caribbean for the IFC.
Speaking on the Summit, Hubert Danso, CEO and Vice Chairman, Africa investor, explained the Summit achieved its three core objectives, which were: to deepen the private sector’s partnership with the World Bank and DFIs on private sector participation and investment climate policy initiatives; secondly, to share and promote African investment success stories through the Ai Investment and Business Leaders Awards, and thirdly, to consult and inform the World Bank’s private sector development agenda through the World Bank-Africa investor Strategic Dialogue.
The Africa investor Summit comprised a number of CEO-led panels that showcased high-growth opportunity sectors and investment projects, and included interactive feedback from public and private sector leaders working on these issues. The outcomes of these panels were designed to support leaders in taking the recommendations forward in their own organisations and promoting uptake across their networks throughout the year.
The invitation-only dialogue for leaders set the Africa agenda at the World Bank Annual Meetings and engaged African business leaders, Ministers of Finance, Central Bank Governors, international investors and development finance institutions on strategies and public private partnerships required to fast-track private sector development and investment climate policies to implement regional economic integration and improve Africa’s global competitiveness.
The Africa investor CEO Investment Climate Summit also hosted H.E. Daniel Kablan Duncan, Prime Minister of Côte d’Ivoire, during a working lunch in which participants discussed the opportunities available in that country.
The Summit concluded with the 5th Africa investor-World Bank Strategic Dialogue with Bankers and Investors, which saw Africa investor and the World Bank commit to taking the Summit recommendations forward and reporting back at the 2014 Spring Meetings in Washington.
Co-Chaired by Hubert Danso, CEO and Vice Chairman, Africa investor, and Makhtar Diop, VP for Africa, World Bank, the strategic dialogue panellists included: Uche Orji, CEO, Nigerian Sovereign Investment Authority; Xavier Luc Duval, Vice Prime Minister and Minister of Finance and Economic Development, Mauritius; Phillips Oduoza, Group Managing Director/CEO, UBA Group; Diene Farba Sarr, Minister of Investment Promotion, Senegal; Jean-Louis Ekra, President, African Export-Import Bank, and Tas Anvaripour, Director of Business Development, African Development Bank.
The dialogue tabled and explored a number of concrete private sector proposals focused on increasing intra-African investment, mobilising domestic sovereign and pension fund capital, infrastructure investment and innovative instruments to engage early stage investment capital for project developer teams working in Africa.
Africa investor then announced the launch of its Sovereign Wealth and Pension Fund initiative; a platform for leading global and African sovereign wealth and pension funds to collaborate and share information on PPP and infrastructure investment transactions in Africa.
The dialogue concluded by applauding the World Bank Group’s commitment to engaging the private sector and investment community by highlighting the urgent need for the Bank to prioritise strengthening the African private sector’s participation in infrastructure investment and increasing intra-African investment.
A summary of the Ai CEO Investment Climate Summit will be published in the November-December edition of Africa investor magazine.
During the Summit, Africa investor also showcased African investment stories by hosting its prestigious 2013 Africa investor (Ai) Investment and Business Leader Awards which recognise investment and policy leadership transforming Africa’s investment climate and competitiveness as an investment destination. The Ai Awards are the longest standing and most recognised international awards that showcase Africa’s investment success stories.
Partners of this year’s Summit included; The World Bank Group; the International Finance Corporation; MIGA; the African Development Bank; African Export-Import Bank; European Development Finance Institutions; Carlyle Group; the US Chamber of Commerce, Bunengi Group and the Private Investors for Africa.
Note to Editors
For more information on the Africa investor CEO Investment Climate Summit, contact Catherine Wright on +27 11 783 4043 or email@example.com.
About Africa investor - www.africainvestor.com
Africa investor is a specialist investment and communications firm advising governments, international organisations and businesses onstrategies for capital market and foreign direct investments in Africa. Africa investor publishes Africa investor, the leading international newsstand magazine for Africa’s investment decision makers; maintains the Africa investor 40 Investors’ Index (regarded as Africa’s Dow Jones) and hosts CEO Investment dialogues with leading public and private sector organisations.