Zim Among Emerging Markets in Afreximbank’s US$44b...

Zim Among Emerging Markets in Afreximbank’s US$44bn Investment Drive

Oscar J. Jeke- Zim Now Reporter

The African Export-Import Bank has unveiled a groundbreaking report highlighting a surge in intra-African investments totaling US$44 billion between 2017 and 2020.

This revelation was made during the African Direct Investment Sensitization Workshop held in Cairo, where Dr. Yemi Kale, Afreximbank's Group Chief Economist and Managing Director of Research, delivered a keynote address.

Dr. Kale emphasized the transformative nature of these investments, stating, “This isn’t just capital. It’s a catalyst.” He underscored the pivotal role of African investors in driving the continent's economic growth, noting, “The African investor is no longer peripheral — they are central to our growth story.”

The ADI Baseline Report revealed that nearly 70% of these investments were directed towards East and Southern Africa, with Mauritius, Kenya, South Africa, Egypt, and Nigeria leading the charge. The financial sector alone attracted over $30 billion, reflecting robust confidence in Africa's banking and financial services.

Emerging investment destinations such as Zimbabwe and South Sudan were also spotlighted, indicating a broadening horizon for intra-African investments. Dr. Kale described ADI as “the financial engine of African integration,” highlighting its role in propelling the African Continental Free Trade Area, fostering resilient industries, and reshaping Africa’s economic identity.

Afreximbank reaffirmed its commitment to facilitating these investments through initiatives such as the Pan-African Payment and Settlement System, the Project Preparation and Technical Assistance Facility, the Fund for Export Development in Africa, and the Intra-African Investment Facility.