The 2023 edition of the Africa Investment Forum (AIF), under the patronage of Morocco’s King Mohammed VI, commenced on Wednesday in Marrakech.
Attended by heads of state and various governments, public and private decision-makers, and investors engaged in the continent’s economic and social development, this year’s forum, under the theme “Unlocking Africa’s Value Chain,” aims to be the continent’s most important economic meeting platform, bringing significant value added to investors by connecting them to opportunities amid a substantial transformation of Africa.
Established in 2018, the AIF has garnered nearly $143 billion in investment since its inception, with its annual dynamic Market Days event bringing together global investors, development finance institutions, and industry and government leaders.
Being a multi-stakeholder summit, this edition, which concentrates on finalizing continent-wide agreements through a novel format incorporating project presentations in selected “board rooms” and high-level sectoral discussions, will have almost 600 high-level participants.
The AIF transactional framework aims to offer suitable investment mechanisms for investors in emerging markets, aligning with Sustainable Development Goals, African Development Bank (AfDB) High 5s, and the African Union’s Agenda 2063, enabling capital channeling into critical sectors.
King Mohammed VI addressed the opening session in a written statement, read out by the Sovereign’s advisor, Omar Kabbaj. King Mohammed VI sent his support to the platform and the participants. Highlighting Africa’s economic concerns, exacerbated by geopolitical conflicts and climate change’s negative effects despite low emissions, the King urged African countries to share experiences to improve investment dynamics.
The King highlighted the key role of the private sector in accomplishing development goals, detailing that state budgets alone are unable to fund required investments, particularly in high-potential sectors, and he pointed out infrastructure development for regional value chains.
He also called for filling Africa’s infrastructure gap through the Africa Investment Forum, promoting regional value chains and addressing financing challenges.
“I am sure that this year’s Forum will be even more enriching, and that it will send a strong signal to investors as to African countries’ commitment to transformative investment,” he concluded. “The aim is to fulfil the aspirations of our continent, our populations and our youth.”