Economic Growth in West Africa to Accelerate Above 7% Per Annum.
Summary: Global Finance & Capital Limited launches inaugural West Africa Investment Forum in Dubai.
Today, Global Finance & Capital Limited (GFCL), an international corporate finance and advisory firm, announced the inaugural West Africa Investment Forum (WAIF), which will take place at the Madinat Jumeirah, Dubai on 9th September 2014. In attendance will be the Heads of State of Benin, Burkina Faso, Cote d'Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo, as well as the Presidents of UEMOA (the West African Economic & Monetary Union) and BOAD (the West African Development Bank).
Also attending will be senior representatives of the Middle East's major Sovereign Wealth Funds, investment banks and private equity players as well as representatives of many of the world's most influential multi-lateral organisations. The 2014 Forum will include final signatures on a range of critical infrastructure projects for the eight nations of UEMOA, with a combined value of circa US$20 billion.
In the last decade the size of the African economy has more than trebled, with West Africa now the fastest growing region on the continent. This year's African Economic Outlook report, produced by the African Development Bank, the OECD Development Centre and the United Nations Development Programme, indicates that a favourable macro-economic climate across West Africa means that growth is likely to accelerate above 7% in the next year, compared with 5.7% for the continent as a whole.
Infrastructure investments in Africa have not kept pace with the growth in demand and the sector has now become one of the most promising investment opportunities, as well as being the key to unlocking the region's immense economic potential.
Mr. Arun Panchariya, Principal and founder of GFCL, commented:
"It is clear that infrastructure investment in Africa has not kept pace with the increased demand generated by rapid economic growth and a population now exceeding 1 billion. Infrastructure is an enormously promising investment opportunity across West Africa, and specifically the UEMOA region. GFCL has been working in partnership with UEMOA for nearly two years to identify infrastructure requirements across the region. The Forum in Dubai on 9 September will demonstrate to Middle Eastern and international investors the importance of working with regional bodies such as UEMOA to help unlock the region's potential."
Copyright EMBIN (Emerging Markets Business Information News) Provided by SyndiGate Media Inc. ( Syndigate.info ).
|Printer friendly Cite/link Email Feedback|
|Publication:||EMBIN (Emerging Markets Business Information News)|
|Date:||Sep 3, 2014|
|Previous Article:||IBS Group preliminary unaudited operating results.|
|Next Article:||Tieto and UPM to expand their partnership in IT services.|