DBSA confident of more deals at 2019 investment forum

Source: Xinhua| 2019-10-25 09:31:20|Editor: ZX
Video PlayerClose

JOHANNESBURG, Oct. 24 (Xinhua) -- The Development Bank of Southern Africa (DBSA) said Thursday it expects over 60 deals to be clinched at the 2019 Africa Investment Forum to be held on Nov. 11-13 in Johannesburg.

At a road show, the DBSA's Lead Investment Relations Officer Patrick McGee said they have been holding road shows in various parts of Africa to identify the 60 projects from 30 countries to be presented at the forum.

"We are optimistic that we will be accelerating the transformation of the continent. We are looking at over 40 billion U.S. dollars' investment. We are looking at how we can speed up transactions and synergize working with multinational development world," said McGee.

The Africa Investment Forum is a co-guarantee and co-financing platform to raise capital and accelerate investment to transform Africa's economic, agricultural and industrial sectors.

McGee said that about 38.7 billion dollars' investment were pledged at last year's conference, with 10 percent of it having been concluded.

Last week, pan-African business services company Mara Group launched a smart phone manufacturing plant in Durban, after making a pledge to invest 100 million dollars in South Africa at the investment forum last year.

"We have gathered enough projects from different sectors like energy, infrastructure and others. We expect more deals this year," McGee said.

Nathaniel Munetsi, head of structured finance at Gauteng Infrastructure Financing Agency, said South Africa is facing increasing fiscal pressure at all levels of the government.

The government is looking forward to working with the private sector to address the infrastructural gap, create jobs and grow the economy, Munetsi said.

TOP STORIES
EDITOR’S CHOICE
MOST VIEWED
EXPLORE XINHUANET
010020070750000000000000011100001385013241