July 20, 2024
Africa investment conference: Gateway to prosperity

Africa investment conference: Gateway to prosperity

The Commercial Bank of Attijariwafa hosted the “We Invest Here” conference, establishing a significant gateway for investment across the African continent. This event provided an invaluable platform for Egyptian investors and those from the bank’s operational regions to meet with African investors, yielding highly positive outcomes.

The 2024 edition of the International Africa and Development Forum was inaugurated under the auspices of His Majesty King Mohammed VI and organized by Attijariwafa Bank through its Africa and Development Club.

The event, conducted in partnership with its reference shareholder, the African Investment Fund Al Mada, operated under the banner “Here, We Invest.” The two-day conference facilitated 6,000 official meetings and approximately 2,000 informal meetings on the sidelines.

Several international agreements were signed, including a cooperation protocol between the Egyptian Commercial Representation Authority and Attijariwafa Bank.

This protocol aims to leverage the bank’s presence in 15 African countries through the Africa Development Club, presenting substantial investment opportunities across Africa.

The opening ceremony of the 2024 edition was graced by notable figures such as Ryad Mezzour, Moroccan Minister of Industry and Trade; Wamkele Mene, Secretary-General of the African Continental Free Trade Area; and Siandou Fofana, Minister of Tourism and Leisure of Ivory Coast.

Their presence underscored the event’s significance and the high level of engagement from prominent personalities.

Discussions during the conference highlighted the need to facilitate currency exchange among African countries to boost intra-African trade.

The attendees noted the existence of 42 African currencies and the significant costs incurred when converting these currencies to the dollar, posing a barrier to intra-African trade and investment.

They proposed exploring mechanisms with African central banks to enable direct currency exchanges, thereby enhancing investment and trade.

The conference successfully provided a valuable opportunity for many clients and investors.

Attijariwafa Bank facilitated direct meetings between its business clients and African investors, allowing them to explore export opportunities and enter preliminary agreements.

The business-to-business (B2B) area saw significant engagement, with a record number of scheduled meetings among economic actors from across the continent. These meetings enabled participants to identify concrete development mechanisms and forge partnerships.

This year’s investment fair celebrated an exceptional delegation from 11 African countries, including Benin, Cameroon, Congo,  Ivory Coast, Egypt, Gabon, Mali, Mauritania, Senegal, Togo, and Morocco.

This dedicated space encouraged investment in Africa by showcasing the national development plans of these countries, highlighting investment opportunities in strategic sectors, and presenting key initiatives aimed at stimulating economic growth and foreign direct investment.

The International Africa and Development Forum is a pivotal event on the continent, focusing African energies and celebrating solidarity and confidence in Africa’s capabilities.

The 2024 edition reaffirms Attijariwafa Bank’s commitment to sustainably contributing to building a united and prosperous Africa by fostering South-South cooperation alongside economic and political actors.

Established in 2016 by Attijariwafa Bank, the Africa and Development Club aims to unite the business community, executives, and public sector representatives to promote investment on a continental scale.

It is a reference space for communication and exchange, dedicated to economic actors seeking to expand in Africa.

The platform provides access to information, services, and expertise designed to help entrepreneurs realize their projects, support major government initiatives, and encourage both South-South and North-South-South cooperation.

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