NewAfricanWoman Issue 49 - Flipbook - Page 9
ON THE COVER
AIF: The multidisciplinary, multistakeholder platform
In September 2019, Chinelo was appointed to her
current role — Senior Director of the Africa Investment
Forum, an initiative championed by the Africa
Development Bank (AfDB) and seven other partners
institutions: Afreximbank, Africa 50, Africa Finance
Corporation, Development Bank of Southern Africa,
European Investment Bank, Islamic Development
Bank, and Trade and Development Bank.
A multidisciplinary, multi-stakeholder platform,
the AIF is today solidifying itself as Africa’s leading
investment marketplace, accelerating transactions
aimed at closing Africa’s investment gaps. “Put simply,”
she explains, “The reason the AIF was initiated was
to prepare projects for bankability, raise capital, and
accelerate the deals to 昀椀nancial closure.”
“Between these mandates lie the very important
task of unlocking the bottlenecks that prevent the
acceptability of deals for 昀椀nancing; the bottlenecks
that lie in raising capital; and the bottlenecks that lie
in getting deals closed early enough,” she explains.
But how does she re昀氀ect on her tenure so far? “It
has been overwhelmingly rewarding, on many
counts,” she asserts and explains: “What we have is
a collation of successes, highs, and lows. But more
importantly, we have rede昀椀ned the engagement with
project sponsors, the owners of the deals. They are the
innovators and remain the future of the continent. The
AIF shapes these ideas, to make them bankable. We
do this by interacting closely, vetting their governance
structures, running robust due diligence, and distilling
their asks to practical deliverables. Just last November
at the AIF Market Days Event, there were 31 billion
US dollars of investment interests realised across
48 deals. But there have also been lows.” In what way?
We probe. “In terms of scepticism from those who don't
believe something so innovative can emanate from the
[African] continent. We have had, for example, those
who have questioned us about what we are adding
or bringing into the space, and asking: What are you
doing that is new? But since its inception we have
shown that, not only is there room for an establishment
like the AIF but that there is also a need for it,” she
explains. ▶
“
The AIF is solidifying itself as
Africa’s leading investment
marketplace, accelerating
transactions aimed at
closing Africa’s investment
gaps…in just four years
more than US$100 billion
investment interest has been
mobilised.
Can-do-attitude
And under her helm, AIF is inarguably delivering —
so far more than US$100 billion investment interest
has been mobilised — proving true the words of
AfDB President, Akinwumi Adesina when he said at
appointment: “[Chinelo’s] can-do-attitude, leadership,
hands-on experience in working with global pension
funds and institutional investors, and extensive
global networks among institutional investors, will
signi昀椀cantly position and help the Africa Investment
Forum to drive its global agenda to attract more
investments to Africa.”
Chinelo and President of Ethiopia Sahle-Work Zewde, at the Africa Investment Forum in
Abidjan last November.
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