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World Economic Forum on Africa attracts huge investment

Abuja (Nigeria): The 2014 World Economic Forum (WEF) on Africa wrapped up here in the Nigerian capital, attracting investment worth more than 68 billion U.S. dollars.The forum started Wednesday and ended Friday.“The funds are targeted

IANS [ Updated: May 10, 2014 19:14 IST ]
world economic forum on africa attracts huge investment
world economic forum on africa attracts huge investment

Abuja (Nigeria): The 2014 World Economic Forum (WEF) on Africa wrapped up here in the Nigerian capital, attracting investment worth more than 68 billion U.S. dollars.


The forum started Wednesday and ended Friday.

“The funds are targeted at projects that would foster agricultural and improve infrastructure, education, skill development and information technology, among others,” Xinhua quoted WEF Managing Director Philipp Rosler as saying.

“They would continue to yield results in the next years,”

“Millions of people have now realized that Africa is important in global economy.”

WEF's Africa Director Elsie Kanza said: “A Nigerian company would invest about 16 billion dollars over the next four years, which will create around 180,000 jobs. Another company will invest 1 billion dollars over the next 10 years and which will create at least 20,000 jobs”.

“A total of 2 billion dollars from donor agencies has been committed to improve electricity supply across Nigeria, and 700 million dollars to the immunization program,” she added.

The three-day event, under the theme of “Forging Inclusive Growth, Creating Jobs,” was held for the first time in a West African country.

“More that 1,000 participants attended the forum, and they come up with a common voice that they will never allow the terrorists and violence dictate our agenda and the people's agenda for the continent,” Rosler said.

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