>@Anne-Cécile Auguin/EIB
©Anne-Cécile Auguin/EIB

African business and political leaders welcomed new EIB support to strengthen private sector investment across Africa at the Africa Investment Forum in South Africa.

At the start of the three-day investment conference, the EIB confirmed its new cooperation with African partners to enhance access to finance, improve energy efficiency, develop more reliable communications and accelerate financing for strategic infrastructure. The EIB also launched a new EUR 1 billion gender focused investment initiative to ensure that African women can fully contribute to the continent’s future and unveiled a new analysis confirming the importance of resilient investment in Africa.

Two new operations in Malawi and Guinea demonstrate the added value of EIB support for high impact investment in fragile, climate-stressed and post-conflict states.

The EIB announced a new partnership to support small businesses in Malawi, and, in cooperation with the European Commission, a pioneering scheme to ensure agricultural smallholders in Malawi can access finance and overcome existing barriers to investment. 

The EU Bank also detailed a new telecom investment in Guinea to expand access to reliable communications and cut emissions by using renewable energy to power telecom towers.

Through support for expansion of the African Trade Insurance Agency, the EIB is ensuring that investment in three countries in Western and Central Africa - Cameroon, Niger and Togo - can benefit from trade and investment insurance that makes projects bankable.

Last year, the EIB provided a record EUR 3.3 billion for new investment in 20 countries across Africa, while in sub-Saharan Africa, private sector financing represented 57% of overall EIB engagement.