African Investment Forum Hails Morocco’s Resilience

The resilience of the Moroccan people stands as a symbol of hope, echoing across the continent and beyond.

• Mahamadou Simpara
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• Nov. 08, 2023 2:12 p.m.

Rabat - During his address today at the fourth edition of the African Investment Forum in Marrakech, Akinwumi Adesina, the President of the African Development Bank (AfDB), commended the Moroccan people for their continued “courage, resilience, and tenacity.”

The forum, graced with the patronage of King Mohammed VI, has drawn a notable gathering of African leaders and investors, signifying the continent’s increasing allure on the global investment stage.

Just weeks after hosting the General Assemblies of the World Bank and the International Monetary Fund, Marrakech is once again at the forefront, this time as the host city for the African Investment Forum. 

Akinwumi reiterated the AfDB’s steadfast commitment to aiding Morocco’s recovery in the aftermath of a devastating earthquake on September 8th, asserting: “The AfDB plans to finance various projects in Morocco, totaling 782 million euros in 2023.”

The President acknowledged Morocco’s remarkable ability to withstand adversity and emerge stronger, a testament to the country’s dedication to progress.

Africa is the ‘prime investment destination’

Taking place from November 8-10 in the vibrant city of Marrakech, this year’s forum boasts a distinguished assembly of African heads of state and government. According to the AfDB President, the substantial participation of African decision-makers sends a resounding message and confirms that “Africa is the prime investment destination.”

He emphasized, “Political will, commitment, leadership, and determination are prevalent across Africa, providing the wind behind the sail of investment.”

Despite a complex geopolitical landscape marked by conflicts, the AfDB President noted, “Africa is growing well and showing resilience,” while “African economies witnessed a real GDP growth of 3.8% in 2022, surpassing the global average of 3.5%.”

He further highlighted the unparalleled investment opportunities on the African continent, stressing that “Africa’s population is projected to reach 2.5 billion by 2050, when the continent will account for 25% of the global population. Africa will play a pivotal role as the key driver of the global supply force.”

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