Economic Growth in West Africa To Accelerate Above 7% per annum

The Forum will take place in Dubai on 9 September 2014 and will highlight exceptional investment opportunities in West Africa, the continent’s fastest growing region.

1st September 2014, Dubai, United Arab Emirates: Today, Global Finance & Capital Limited (GFCL), an international corporate finance and advisory firm, announced the inaugural West Africa Investment Forum (WAIF), which will take place at the Madinat Jumeirah, Dubai on 9th September 2014. In attendance will be the Heads of State of Benin, Burkina Faso, Cote d’Ivoire, Guinea-Bissau, Mali, Niger, Senegal and Togo, as well as the Presidents of UEMOA (the West African Economic & Monetary Union) and BOAD (the West African Development Bank).

Also attending will be senior representatives of the Middle East’s major Sovereign Wealth Funds, investment banks and private equity players as well as representatives of many of the world’s most influential multi-lateral organisations. The 2014 Forum will include final signatures on a range of critical infrastructure projects for the eight nations of UEMOA, with a combined value of circa US$20 billion.

In the last decade the size of the African economy has more than trebled, with West Africa now the fastest growing region on the continent. [1] This year’s African Economic Outlook report, produced by the African Development Bank, the OECD Development Centre and the United Nations Development Programme, indicates that a favourable macro-economic climate across West Africa means that growth is likely to accelerate above 7% in the next year, compared with 5.7% for the continent as a whole.[2]

Infrastructure investments in Africa have not kept pace with the growth in demand and the sector has now become one of the most promising investment opportunities, as well as being the key to unlocking the region’s immense economic potential.

Mr. Arun Panchariya, Principal and founder of GFCL, commented: “It is clear that infrastructure investment in Africa has not kept pace with the increased demand generated by rapid economic growth and a population now exceeding 1 billion. Infrastructure is an enormously promising investment opportunity across West Africa, and specifically the UEMOA region.  GFCL has been working in partnership with UEMOA for nearly two years to identify infrastructure requirements across the region.  This Forum in Dubai on 9 September will demonstrate to Middle Eastern and international investors the importance of working with regional bodies such as UEMOA to help unlock the region’s potential.”

Mr. Panchariya further commented: “It is our expectation that investment in the UEMOA region will continue to grow, and we would like to demonstrate to Middle East and other investors the excellent opportunities that exist there. The purpose of the Forum is to discuss those opportunities in greater detail, as well as to formally sign a multi-billion dollar package of infrastructure development deals. This is a very exciting time for Global Finance & Capital Limited, and for the UEMOA region.”