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New Covid Variant Disrupts Plans for an African Investment Summit

The African Development Bank (AfDB) has postponed its planned December 1-3 investment forum in Abidjan, Ivory Coast, due to health concerns and travel restrictions over the Omicron coronavirus variant, the bank’s president said on Monday. Several heads of state including from SA, Nigeria, Ghana, Tanzania, Rwanda and Mozambique and a delegation from the US that included investors representing more than $1.6-trillion in assets under management, were expected to attend the forum. The AfDB said the forum had 118 deals in its pipeline from all eight founding members, with an investment value of more than $110bn. Adesina said conversations around the funding of projects would continue behind the scene.

SOURCE: BUSINESS DAY LIVE