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US-Africa Municipal and Sub-Sovereign Investors Forum: Paving the Way for Sustainable African Development

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investment

Discussions revolved around unity, responsible investment, and leveraging Africa’s demographic dividend to accelerate economic growth

NEW YORK, United States of America, October 2, 2023/APO Group/ — 

In the margins of the United Nations General Assembly, UCLG Africa (http://www.UCLGA.org), the umbrella organization representing the voice of African subnational and local governments on the African continent, organized the very first US-Africa Municipal and Sub-Sovereign Investors Forum at the Wall Street Hotel in New York City. The Forum brought together around 100 participants representing the African Union institutions; the USA cooperation agencies; Black Caucus USA State legislators; Africa and USA Mayors and Leaders of subnational and local governments; Africa and USA Development Finance institutions; Africa and USA business community.  

The proceedings of the Forum were structured around three sequences: the official opening session; the session on market practices, collaboration and investment opportunities in Africa; and the session on investors response to the call to invest in Africa.

The opening session was moderated by Jean Pierre Elong Mbassi, Secretary General, UCLG Africa.

At the official opening ceremony of the Forum, Hon Eric Adams, Mayor of New York City, delivered an inspiring address, highlighting the timely significance of the Forum and the opportunity it offers to have a new look at the huge potential of Africa in terms of investment and business opportunities, particularly in her cities. He underscored the good momentum for organizing this Forum in New York City, USA, since African American Mayors are managing the bulk of major cities in the country, representing 1/3 of the USA GDP. The mayors of these cities shall therefore be at the forefront in mobilizing their business community, including the SMEs, to explore the possibility to develop their business through investment projects in Africa.  

Mayor Adams insisted that the Forum should be seen as a starting point for a new conversation on investment in African cities and was happy that UCLG Africa announced the holding of a second edition of the Forum to be held in the framework of the 10th edition of the Africities Summit scheduled in December 2025 in Cairo, Egypt, at which he would be happy to participate.

The opening session was also marked by the statements by the following speakers: Hon Laura Hall, President, National Black Caucus of State Legislators; Hon Shawyn Patterson-Howard, Mayor Mt Vernon, NY, President of African American mayors Association; Madam Nardos Bekele-Thomas – CEO, African Union Development Agency-NEPAD; Dr Julius Garvey, Board-Certified award-winning surgeon, medical professor and investor. Son to Marcus Garvey; Mohan Vivekanandan, Group Executive, Client Coverage, Development Bank of Southern Africa; Solomon Quaynor, Vice President, Private Sector, Infrastructure and Industrialization, African Development Bank.

Throughout the opening session, the speakers highlighted the need for strategic investments to unlock Africa’s untapped development potential. Discussions revolved around unity, responsible investment, and leveraging Africa’s demographic dividend to accelerate economic growth. Place-based investments were advocated for more impact on the people where they live.  Commitment to delivering on development promises and building hope through sustainable investments were recurrent themes.

The second session on market practice exchange, collaboration and Investment opportunities in Africa was moderated by Ambassador Seyni Nafo, Coordinator, Africa Adaptation Initiative (AAI).

Throughout the opening session, the speakers highlighted the need for strategic investments to unlock Africa’s untapped development potential

The session was introduced by a powerful statement by Hon. Rohey Malick Lowe, the Mayor of the City of Banjul in the Gambia, and also the President of the Network of Women Local elected officials of Africa (REFELA from its French acronym). Hon. Lowe put the spotlight on the necessity to invest on women economic empowerment and on opening up opportunities for the youth, through vocational education and investment in the digital transformation.

The discussion was organized around presentations by Yofi Grant, Chief Executive Officer, Ghana Investment Promotion Centre; Yves Millardet, Chairman of the Executive Board, Agence France Locale; Valerie White, Social Impact Investment and Equity Executive; Clayton Banks, Co-Founder & CEO of Silicon Harlem; Johanna LeBlanc – Partner, Adomi Advisory Group, PLLC; Dr. Edward Kofi Osei, chairman, national homeownership, Ghana.

Key messages included the importance to adopt a disruptive narrative on the perception of risk in doing business in Africa; to prioritize investing in technology, infrastructure, data collection and processing for a smart management of cities; to focus on women and youth empowerment; and to not hesitate to support ATIA, the special purpose vehicle aiming to facilitate access of African cities and territories to investment and the capital market.

The third session on investors’ response to the call for expression of interest to investing in Africa was moderated by Ms. Zienzi Dillon, CEO, Carmel Global Capital and former Head, Public Sector, Corporate and Investment Banking, Barclays Bank, South Africa.

The third session received communications by Ms. Agnes Dasewicz, Chief Operating Officer, International Development Finance Corporation (DFC); Mr. Mohammed Abbadi, Senior Investment Manager, Local Development Finance Practice, United Nations Capital Development Fund (UNCDF); Mr. Rene Awamberg, Directeur and Global Head and Client Relations, Afreximbank; Ms. Donna Sims Wilson, Chief Operating Officer, Kah Capital Management and former US National Association of Securities Professionals; Ms. Isabelle Lessedjina, Senior Vice President, TCX Fund; Mr. Craig Cogut, Pegasus Capital Advisors; Mr. David Ziyambi, Partner, Finance Department and Africa Practice, Latam & Watkins.

The response of the above investors was globally positive as all of them appreciated African cities as a new horizon for investment and business opportunities. A proposal was made to identify two or three cities in Africa in collaboration between the US Mayors and UCLG Africa to serve as a pilot to test the way to mobilize investors and partners to invest in African cities, including with the support of DFC. All of them supported the setting up of ATIA as an innovative mechanism that can assist in attracting funding for investment in African cities and subnational and local governments.  

Four points were retained as way forward:

  1. Institutionalize the US-Africa Municipal and Subnational Investors, the next edition of the Forum to be organized in December 2025 in Cairo, Egypt, in the framework of the 10th edition of the Africities Summit
  2. Sign the MoUs between UCLG Africa with the African American Mayors Association on the one hand, and with the National Black Caucus for State Legislators
  3. Mobilize US and Africa partners to participate in the establishment and operation of ATIA through financial and non-financial support
  4. Scale up the capacity building program targeting two objectives: (1) set up an observatory on local finance to have the needed financial data to back access to the capital market; (2) define a training program targeting African CFOs and professionals aiming at preparing African cities and subnational governments to transact on the capital market.

In concluding the proceedings of the Forum, the CEO of the African Union Development Agency-NEPAD expressed greetings to the delegates that spoke with their heart and insisted on the fact that it is time to move from commitments to action on the ground: “Let’s commit to work the talk and do it for ourselves”.

Distributed by APO Group on behalf of United Cities and Local Governments of Africa (UCLG Africa).

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Africa and Caribbean trade potential could reach $1.65 billion annually by 2030: International Trade Centre (ITC)-Afreximbank report

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Afreximbank

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped

ST. JOHN’S, Antigua and Barbuda, November 3, 2026/APO Group/ –Annual trade in goods and services between Africa and the Caribbean could reach up to $1.65 billion by 2030, excluding mineral fuels, according to a new report launched today by the International Trade Centre (ITC) and African Export-Import Bank (Afreximbank) (www.Afreximbank.com) on the sidelines of the Commonwealth Heads of Government Meeting in Antigua and Barbuda.

 




  

The report, Reshaping Africa-Caribbean Trade: Opportunities for Economic Transformation, (https://apo-opa.co/4eiz62u) finds that while Africa and the Caribbean share deep historical and cultural links, trade between the two regions continues to represent only a small share of each region’s overall trade, despite complementarities across sectors ranging from agribusiness and manufacturing to services and the creative economy.

A look at the numbers

The report finds that around 80% of Africa’s annual goods export potential to the Caribbean remains untapped, with are significant opportunities for export growth if trade and investment is actively promoted and facilitated.

Africa and the Caribbean must transform a shared history into shared prosperity

Caribbean export potential lies in the services sector, reaching $481 million. The report identifies business opportunities across several priority sectors, including processed food and animal feed, chemicals, minerals and metals, apparel and textiles, leather and footwear, tourism, transport services and creative industries.

These findings – and more – are based on trade and export potential analysis, detailed sector assessments and a survey of 1,175 businesses and business support organizations across Africa and the Caribbean.

Tapping into priority sectors

ITC Executive Director Pamela Coke-Hamilton (https://apo-opa.co/3WHHZMU), in launching the report, said: ‘At a time of major shifts in global trade, countries need to strengthen regional ties and invest in value addition, to build resilience. We know the major trade opportunities between Africa and the Caribbean – and now we can focus on helping businesses take advantage of those opportunities through better market intelligence, improved logistics and greater access to finance.’

Commenting on the report, Denys Denya, Senior Executive Vice President at Afreximbank, said: ‘Africa and the Caribbean must transform a shared history into shared prosperity. With our CARICOM office in Barbados, about $1 billion in approved transactions and a $5 billion regional financing commitment, Afreximbank is advancing this vision through financing, deposit mobilization under CENDEP, business links through the annual Afri-Caribbean Trade and Investment Forum, local-currency payments through CAPSS and creative-industry collaboration through CANEX. This report offers a practical roadmap to turn untapped potential into bankable opportunities across agribusiness, manufacturing, tourism and the creative economy. Through targeted financing, stronger transport and logistics links and strategic partnerships, we can build a Global Africa connected by heritage, trade, investment and shared opportunity.’

The report finds that businesses continue to face significant challenges, including high transport costs, limited direct shipping links, regulatory barriers, limited access to finance and difficulties in identifying trusted commercial partners. It highlights that future economic cooperation should extend beyond traditional trade in goods, including through joint investment ventures, digital services, creative industries and tourism. It also calls for targeted action to improve market intelligence and business matchmaking; expand access to trade finance and payment solutions; strengthen transport and logistics connectivity; support sector-specific value chain development; improve regulatory cooperation and market access; and foster stronger partnerships among business support organizations.

Read the full report HERE (https://apo-opa.co/4exHBH9)

Distributed by APO Group on behalf of Afreximbank.

 




 

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MSGBC Oil, Gas & Power 2026 Investment Track to Spotlight New Capital Opportunities

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Etu Energias

A high-level ministerial roundtable, a project development clinic and matchmaking sessions are set to drive partnerships across the MSGBC region

DAKAR, Senegal, November 3, 2026/APO Group/ –The MSGBC Oil, Gas & Power 2026 conference and exhibition, taking place from December 1–3 in Dakar, will introduce a dedicated Investment Track designed to deepen capital engagement across West Africa’s energy landscape. Building on the region’s expanding upstream activity, infrastructure development and cross-border integration, the track will serve as a platform where governments, investors and project developers can align on investment pathways across the MSGBC basin.

 




  

At the core of the Investment Track will be the Ministerial Leadership & Global Capital Roundtable, where energy ministers will convene to examine how enhanced regional cooperation, regulatory alignment and coordinated infrastructure development can accelerate capital flows into the sector. The session is expected to focus on the policy and financing frameworks required to unlock large-scale projects, including investment codes such as Mauritania’s 2025 reform, as well as strengthening fiscal incentives and improving regulatory clarity to attract capital into the energy sector.

The Investment Track is designed to move beyond dialogue and into deal facilitation, bringing together decision-makers who can directly shape the next phase of energy investment

For the first time at the MSGBC Oil, Gas & Power event, the Project Development Clinic will introduce a more technical format. In this small-group advisory setting, project developers, government representatives and investors will engage directly on project challenges. The clinic aims to improve project structuring, address financing bottlenecks and identify practical solutions to accelerate development timelines and move projects closer to final investment decisions.

The Investment Track will also feature structured Business-to-Business Matchmaking sessions designed to connect stakeholders across the energy value chain. These targeted engagements will facilitate discussions between investors, operators, service companies and public-sector institutions, enabling participants to explore partnerships and co-investment opportunities.

Together, these sessions reflect the MSGBC region’s broader shift toward investment-led growth. In Senegal, this momentum is already visible through the partnership between state-owned agencies APIX and COS-PETROGAZ to improve the business environment for energy projects and streamline investment processes. With PETROSEN advancing development work on the Yakaar-Teranga gas project and targeting a final investment decision in December 2026, alongside new exploration opportunities emerging onshore, the Investment Track will provide a platform to connect the region’s resource potential with investors and project developers.

“The Investment Track is designed to move beyond dialogue and into deal facilitation, bringing together decision-makers who can directly shape the next phase of energy investment across the region. By creating a space for investors, project developers and public-sector stakeholders to engage directly, the track will help turn investment priorities into concrete partnerships and project opportunities,” states Sandra Jeque, Events and Project Director, Energy Capital & Power.

Explore opportunities, foster partnerships and stay at the forefront of the MSGBC region’s oil, gas and power sector. Visit www.MSGBCOilGasAndPower.com to secure your participation at the MSGBC Oil, Gas & Power 2026 conference. To sponsor or participate as a delegate, please contact sales@energycapitalpower.com.

Distributed by APO Group on behalf of Energy Capital & Power.

 




 

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Afreximbank and partners bring together investors and industrialists in Benin to Accelerate local processing and investment in Special Economic Zones

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Afreximbank

Held under the theme “Investing in Local Processing and Industrialisation”, the forum brought together international investors, industrialists, buyers and development finance institutions to explore the vast opportunities for local processing and strategic partnerships offered by the GDIZ

COTONOU, Benin, November 3, 2026/APO Group/ –African Export-Import Bank (Afreximbank) (www.Afreximbank.com), in partnership with the Société d’Investissement et de Promotion de l’Industrie (SIPI-BENIN S.A), the entity responsible for developing the Glo-Djigbé Industrial Zone (GDIZ), and Panafritex, hosted the Special Economic Zones Investment Forum (FocusSEZ 2026) on 21 and 22 October 2026 at the Sofitel Cotonou Marina Hotel and the GDIZ.

 




  

Held under the theme “Investing in Local Processing and Industrialisation”, the forum brought together international investors, industrialists, buyers and development finance institutions to explore the vast opportunities for local processing and strategic partnerships offered by the GDIZ.

Local processing at the heart of discussions

In his address, Mr Jean Arsene Yemina, Regional Director of Operations for Francophone West Africa at Afreximbank, speaking on behalf of Ms Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development, Afreximbank, highlighted the role of financing and industrial partnerships in transforming Africa’s raw materials into finished products:

“Here in Benin, textiles have become the driving force behind this transformation. The Glo-Djigbé Industrial Zone was established through a partnership between the Government of Benin and ARISE IIP, with Afreximbank proud to have contributed to financing its development.

“Here in Benin, the textile industry has become the driving force behind this transformation. The Glo-Djigbé Industrial Zone was created through a partnership between the Government of Benin and ARISE IIP, and Afreximbank is proud to have helped finance its establishment. Today, the zone is home to West Africa’s first fully integrated cotton-to-garment manufacturing platform, operated by Benin Textile (BTEX). The entire value chain, from ginning and spinning to weaving and finished garments, is carried out on African soil by African hands. Before the creation of the GDIZ, less than 1% of Benin’s cotton was processed locally. In just three years, the zone has come to process approximately 40,000 metric tons of cotton—nearly 12% of national production—and to produce millions of “Made in Benin” garments for major international brands such as US Polo, Kiabi, and H&M.”

He also highlighted similar efforts underway at the GDIZ to develop local processing in the cashew, soybean and shea value chains.

Mr Létondji Beheton, Director General of SIPI-BENIN S.A., emphasised the need to strengthen value addition across the continent:

“Our ambition can no longer be limited to producing and exporting raw materials. We must go further by processing more of these resources on our continent, developing competitive industries, strengthening our value chains and retaining a greater share of the wealth generated from our natural resources.”

He added: “It is against this backdrop that the Glo-Djigbé Industrial Zone (GDIZ) was established, as the outcome of a public-private partnership between the Republic of Benin and ARISE Integrated Industrial Platforms (ARISE IIP). This integrated industrial platform embodies a shared commitment to making local processing a driver of economic growth, job creation and industrial development.

“By attracting manufacturing facilities and developing integrated value chains, the GDIZ is helping transform raw materials into higher-value-added products, strengthen Benin’s industrial capacity and enhance its competitiveness in regional and international markets. In doing so, it is contributing to the development of a more diversified economy that generates wealth and creates sustainable opportunities for the country.”

Africa has significant potential to strengthen its position in the global textile industry

Mr Arvind Mathur, CEO of PANAFRITEX, highlighted the role of ARISE IIP’s textile platform in developing an integrated textile industry in Africa, capable of transforming the continent’s cotton into finished, high-value-added products.

“Africa has significant potential to strengthen its position in the global textile industry. Realising this ambition will require the development of integrated industrial capacities that can transform cotton grown on the continent into higher-value-added finished products, while enhancing the competitiveness of the sector and expanding its access to international markets.

“At PANAFRITEX, we are contributing to this momentum by developing a model that brings together industrial processing, business development and the promotion of finished products. Our own brands, Obalé and SúSú, are part of this approach, connecting Africa’s manufacturing capabilities with consumer markets.

“The commissioning of our first industrial facilities at the GDIZ in Benin marks a major milestone in the rollout of this model. At the same time, the development of new facilities in Cameroon, Kenya, Nigeria, Ghana and Tanzania reflects our ambition to progressively expand our industrial footprint across the continent.

“Through this expansion, we aim to contribute to strengthening Africa’s textile value chains, creating skilled jobs and ensuring that a greater share of the value generated is retained locally.”

Financing, Market Access and Business Networking

Discussions focused on the development of a new generation of African industrial hubs, the cotton value chain, financing for the textile industry, as well as logistics and integrated supply chains. The programme also featured business-to-business (B2B) and business-to-government (B2G) meetings with targeted public-sector institutions, aimed at identifying investment opportunities, financing solutions and potential business partnerships.

Afreximbank presented the range of financial instruments and support facilities it offers investors and businesses to facilitate the establishment and expansion of their industrial operations. These include long-term financing and equipment financing, trade finance and working capital facilities, guarantees and risk-sharing mechanisms, as well as project preparation support and equity investment through the Fund for Export Development in Africa (FEDA).

The Bank also highlighted its Africa Buyers Programme, which connects African buyers with manufacturers operating in industrial zones across the continent. The initiative aims to complement access to finance with market opportunities for products manufactured in Africa.

A full day was dedicated to a visit to the GDIZ, during which participants toured its infrastructure and industrial facilities and took part in business matchmaking sessions bringing together investors, manufacturers and buyers. These activities were designed to facilitate the establishment of new manufacturing facilities and expand sourcing opportunities for “Made in Benin” products, particularly in agribusiness, textiles, plastics, packaging and industrial equipment.

Across sectors ranging from agro-processing and textiles to plastics, packaging and industrial equipment, the overarching objective is to accelerate the establishment of new production facilities and strengthen the supply of quality-certified “Made in Benin” products.

An Integrated Model for Advancing Industrial Sovereignty

Covering 1,640 hectares, the Glo-Djigbé Industrial Zone (GDIZ) is the result of a strategic partnership between the Republic of Benin and ARISE Integrated Industrial Platforms. Designed as a comprehensive, integrated ecosystem, it supports investors across the entire value chain, from securing supplies of locally sourced agricultural and mineral raw materials to industrial processing and the export of finished products, leveraging its direct connectivity to the country’s logistics infrastructure and the Port of Cotonou.

By hosting this international forum, Benin is once again demonstrating its ability to offer an attractive business environment, an enabling regulatory framework and world-class infrastructure to help build the future of African industry.

Distributed by APO Group on behalf of Afreximbank.

 




 

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