The African Development Bank (AfDB) has turned to northern Europe for investment funding, which is critically needed to transform African economies.

From mid-September to October 5, 2018, the Bank presented its strategy for the transformation of African economies to Nordic investors where it showcased investment opportunities on the continent.

AfDB said in a statement released yesterday that its team presented financial products and investment opportunities to Nordic investors through roadshows in order to leverage more access to financing.

The roadshows brought together more than 50 private sector companies, investors and government as well as public institutions in Norway, Sweden, Finland and Denmark, the statement said.

The aim, it added, was to bring the Bank closer to customers in order to increase awareness of key private sector stakeholders to understand the Bank’s financial and risk mitigation products for investment projects.

"Nordic countries are very important for the development of Africa and we want to see more investments coming from these countries. Hence, the roadshow organised to showcase African investment opportunities and to present the Bank as a gateway for their investments,” said Olivier Eweck, the Bank’s Director of Syndication, Co-financing and Client Solutions Department.

The Bank targeted commercial banks, institutional investors, including pension funds, asset managers and insurers as well as individual investors across the Nordic region.

The Bank also used the opportunity to generate interest of businesses to the Africa Investment Forum—its maiden market place— scheduled for November in Johannesburg, South Africa.

It views partnerships with investors from the Nordic region as critical in providing perspective and the vision necessary to support new investments in infrastructure and to foster sustainable development initiatives in Africa.

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