Bankable projects to investors summit
The President, H.E. Hage Geingob will present the country’s most pressing bankable projects to large institutional investors at the Global African Investment Summit slated for 01 and 02 December, at Central Hall Westminster, in the UK.
President Geingob will join other heads of state from Guinea, the Democratic Republic of Congo, Mauritius, Uganda, Ghana, Liberia, Rwanda, Malawi and Benin as well as ministers, sector specific ministers and CEOs from state-owned enterprises.
The leaders are set to address and hear from the global financial markets, project implementers, consultants and law firms about co-financing and executing their most pressing projects in agribusiness, natural resources, power and transport infrastructure.
Over 1000 global investors, including pension funds, sovereign wealth funds, private equity and asset management firms representing over US$7 billion in capital have registered to attend the Summit – a 25% increase from last year’s inaugural event, held in London.
Rt Hon. Philip Hammond MP, Secretary of State for Foreign and Commonwealth Affairs said, “The Global African Investment Summit is one of the largest and most prestigious African investment summits in the world, and the fact that it is taking place in the UK is testament to the deep links between the UK and the continent. Africa’s economic success is of global importance. A prosperous, safe and secure world must have Africa at its heart.”
Paul Sinclair, director of The Global African Investment Summit, said, “Two key factors driving the increase in investor interest in the 2015 summit are, firstly, the opportunity to establish relationships and directly engage with very senior government representatives and project developers in one joint forum. Secondly, economic factors – Africa registered 5% GDP growth in 2014, beating the global average by 1.5%, so the continent remains an attractive and important destination for investors”.
According to the latest United Nations Conference on Trade and Development (UNCTAD) annual report on foreign direct investment (FDI), while investment globally, fell by 16% in 2014, FDI flows to Africa remained stable at US$54 billion and flows into Sub-Saharan Africa rose 5% to US$42 billion, riding out challenges such as falling commodity prices.
Dr. Carlos Lopes, Executive Secretary of the United Nations Economic Commission for Africa said: “The Global African Investment Summit moves beyond the conventional discussion on the need for change in Africa and provides a business platform, offering African governments and companies, the chance to showcase their investment projects to investors interested in long-term investment in Africa.”
He said the outcomes of the summit will present a chance for Africa to use trade as an entry point for industrialisation, and assume a larger role in world output.