$68bn Investment attracted by World Economic Forum on Africa

Dr. Philip Rosler, the Managing Director of the just concluded the World Economic Forum (WEF) on Africa disclosed that the forum has attracted over $68bn (about N12.9tn) in investment to the African continent.
He said that in the next years to come, the funds which were in the form of Foreign Direct Investments (FDI) as well as private and public investment across Africa countries would continue go yield results. He disclosed that the funds were aimed at investments in beautiful projects that would foster that agricultural sector, improve infrastructure such as roads, railways, hospitals, education, skill development and ICT.
‘’What this means is that it is not just money, but opportunities for Africa and the reason why we are here is to unlock the opportunities for the improvement in the states of Africa’’ said Dr. Rosler. He added that the event was one of the best his organization had hosted in the recent years.
The Managing Director of the Forum added that the mission of his organization which is ‘’ commitment to the growth of the world in three steps’’ was achieved. ‘’The steps are to create community of interest, to create community of purpose and lastly to have community of exchange. The WEF (A), Abuja, has been able to achieve these. For instance, in creating the community of interest, the articles about the last three days are more than 48,000 articles which is three times more than that of last year. Millions of people have now realized that Africa is important in global economy’’ he said.
‘’Secondly, We created the community of purpose, we have more than 1000 participants here in the last three days and they were not withstanding all the reports about security. They were here because of all the discussions and they send their voices of solidarity with the people of Nigeria. They come up with a common voice that they will never allow the terrorist and violence dictates our agenda and the people’s agenda for the continent’ said Dr Rosler.
Elzie Kanza, the Director and head of Africa WEF, said that practically, the ‘’Safe School Initiative’’ which came about as a result of the incidence of the over 200 abducted girls in Chibok, was outstanding.
The Fund was created by the UN Special Envoy for Global Education Gordon Brown. It is aimed to develop and enhance education in the terrorism-ravaged areas of Nigeria, according to Dr. Brown.
The ‘Safe School Initiative Fund’’ attracted $10bn each from the initiator and the Federal Government respectively.
Kanza also said that the Chinese government also planned to invest $42bn in Africa, $10bn in investment financing, $30bn in extending credit lines and $2bn into China-Africa investment fund.
She also revealed that in the business sector, the Dangote group would be investing about $16bn in Nigeria in the next four years, adding that it would also create 180,000 jobs.
Another company is investing $1bn across Africa in the next 10 years while 20,000 jobs will be created through the Digital Africa Initiative, says Kanza.
She also reported that on health, the immunization drive got $700mn through an MoU that was signed.

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