Africa investor (Ai) announced and presented The Investable Africa We Want Report, in support of Agenda 2063 and Africa’s response to COVID-19, on Friday, 11 June 2021, during The G7-Africa investor Summit, held in association with the G7’s institutional Investor Leaders Network (ILN).
African sovereign wealth and pension funds have been crucial to forming new and innovative multi-stakeholder partnerships; addressing climate change; the economic recovery of COVID-19; increase investment in African infrastructure; and realizing the aspirations of the African Continental Free Trade Area (AfCFTA).
The Investable Africa We Want and Agenda 2063 Report resulted from the African Sovereign Wealth and Pension Fund Leaders Forum (ASWPFF) COVID-19 Consultative Roundtables on the role and response of African institutional Investors against the COVID-19 pandemic, held in collaboration with the African Union’s Continental Business Network (CBN).
The ASWPFF Consultative Roundtables recognised that in combating the economic impacts of COVID-19, efforts must be informed by two urgent and mutually reinforcing components:
(i) Immediate priority responses to protect African capital markets, micro-, small- and medium-sized enterprises (MSMEs), supply chains and the AfCFTA from the economic fallout of COVID-19; and
(ii) Multi-stakeholder partnerships across government and industry to foster industry shifts and a regulatory requirement.
The ASWPFF consultative process and its outcome recommendations were captured in a call-to-action statement (ASWPFLF policy statement), that was issued to policy makers and the investment community.The statement highlighted six key response areas, namely to:
- Pursue ESG-aligned and green infrastructure co-investment partnerships;
- Create the infrastructure necessary for African MSMEs, youth and women entrepreneurs to thrive in the new digital economy;
- Engage in policy partnerships with policy makers on framing the new regulatory environment and investment needs of the post-COVID-19 economy;
- Leverage the expertise and insight of African institutional investors;
- Consider directing funding for the economic recovery toward SWFs to invest in their local and regional economies, and;
- Coordinate and corelate responses with global peer institutional investors and private sector industry bodies.
At the request of policymakers and stakeholders, the statement was expanded into this comprehensive and actionable investment partnerships recommendations report in the form of The Investable Africa We Want and Agenda 2063 Roadmap Report.
This report was compiled with technical support from Africa investor (Ai) Capital and RisCura, and it is Africa’s asset owner industry’s roadmap on economically futureproofing Africa, through asset owner investment partnerships, to invest forward better and greener, and build resilience for achieving Agenda 2063 against the backdrop of COVID-19.
This report is a testament of the African investment community’s strong commitment and support for Agenda 2063; the African Union’s 5% Institutional Infrastructure Investment Agenda; the African Green Infrastructure Investment Bank (AfGIIB) initiative, and the AfCFTA.
As the ultimate African asset owners’ statement of inter-dependence, the report is a rich feast of action-oriented and immediately-implementable proposals, with over 200 asset owner investment partnership recommendations, 100 futureproofing initiatives and 500+ investment products for asset owners and investment decisionmakers, including trustees and board members, and African governments, Ministers of Finance, central banks and development finance partners that can be pursued today.
The Report sets out the required ingredients and recommendations, to assist clearing Africa’s infrastructure deficit of $100bn per annum for the next 10 years, , through expanded trade, the 5% and the 1% domestic and global infrastructure capital mobilization Agenda, re-orienting development partners programs and technical assistance, and increasing Africa’s infrastructure budgets to 5% of GDP.
The Report was presented to Dr Ibrahim Mayaki, CEO, African Union Development Agency (AUDA), by Hubert Danso, Chairman, the African Sovereign Wealth and Pension Fund Leader’s Forum, the AU Continental Business Network (CBN), CFA New York Society Global Asset Owners Council, during high-level opening ceremony of the G7-Africa investor Summit, held in association with ILN.
Participating leaders in the opening ceremony included; Dr Ibrahim Mayaki, CEO, African Union Development Agency (AUDA), Raila Odinga, AU High Representative for Infrastructure Development. Former Prime Minister, Kenya, and Amy Hepburn, CEO, ILN, amongst several African and global pension and sovereign wealth fund leaders and members of the African Sovereign Wealth and Pension Fund Leaders Forum.
Mr Danso said: “African institutional investors have important perspectives on how to build back better in the wake of this health and economic tragedy. We are experts at long-term investing and planning, and in the service of our continent and today’s interdependent and inter-connected world, we see this as a watershed moment to generate and document us invest forward better and greener insights, that could support public and private sector policy breakthroughs.
“This and past pandemics have taught us that no geography, form of capital, sector, or social class is immune, and if a pandemic is not defeated everywhere, it’s not defeated anywhere.
“I believe that investor leadership initiatives taken during this COVID-19 crisis, must be deliberate and lead to a burst of innovation and productivity, more resilient industries, institutional investor public partnerships (IIPP) at all levels, and the emergence of a digitally integrated African trade system and reconnected world.”
About the African Sovereign Wealth and Pension Fund Leaders Forum
The African Sovereign Wealth and Pension Fund Leaders Forum comprises the CEO’s, Chairmen and CIO’s, of Africa’s pre-eminent sovereign wealth and pension funds, determined to form new and innovative multi-stakeholder partnerships, to address climate change, the economic fallout of COVID-19, increase investment in African infrastructure, and realize the aspirations of the African Continental Free Trade Area (AfCFTA).
About Africa investor
Africa investor is an investment holding platform that aligns its client base of sovereign wealth funds, pension funds, family offices and long-term investors with vetted infrastructure, private equity and technology investment opportunities in Africa. Ai was founded in 2002 to facilitate investments across Africa and do one thing: be the Pan African specialist advisory service, to assist and advise African project developers access international capital and provide foreign investment and transaction advisory services to African governments, the private sector and global investors. This remains our singular purpose today, underpinned by deep fundamental research, the pursuit of investment insights and continuous innovation, facilitated with over 70 years of industry experience working across every market on the African content. The Ai Group provides, secure easy to use transaction platforms and investment advisory services, strategic research, investment indices and investment communication services, to support its clients’ investment programs in Africa. Africa investor advises clients from around the globe, acting as a principal investor in strategic assets on the continent through Ai Capital.
Ai also benefits from specialist insights and the operational experience of the Ai Advisory Board and Ai Academy Leaders Forums on Sovereign Wealth and Pension Funds, Family Offices, Infrastructure Project Development and Emerging Investment Managers.