AfDB and EDB Unite in New Push for 10-Billion-Dollar African Investment

The African Development Bank (AfDB) and Mauritius’s Economic Development Board (EDB) have intensified their collaboration, positioning the island nation as a strategic launchpad for African-oriented investments. The partnership aims to bolster private sector engagement, support local businesses, and fund sustainable projects across the continent.

The strengthened ties were solidified during a recent visit by AfDB officials, including Bleming Nekati, the bank’s Southern Africa Private Sector Operations Manager, and Nontle Kabanyane, a country programme officer.

Their visit sought to better understand the priorities of Mauritian economic actors and identify key areas for collaboration.

Strategic Sectors and Support Mechanisms

The two institutions have pinpointed several priority sectors for investment, including renewable energy, agribusiness, and healthcare infrastructure. The partnership will also focus on upskilling and development initiatives.

The AfDB is ready to support Mauritian businesses looking to expand into Africa through a variety of mechanisms, including direct financing, technical assistance, and regional partnerships. The bank also plans to use blended finance and risk mitigation tools to encourage co-investment opportunities.

Leaders’ Statements and Future Vision

According to Bleming Nekati, the AfDB is committed to backing projects that align with its “High 5” strategic priorities: ‘Light up and Power Africa,’ ‘Feed Africa,’ ‘Industrialise Africa,’ ‘Integrate Africa,’ and ‘Improve the quality of life for the people of Africa.’

Mahen Kundasamy, CEO of the EDB, echoed this sentiment, stating that the partnership fully supports Mauritius’s ambition to serve as a hub for sustainable and inclusive African investments.

He stressed the importance of a “close collaboration” to secure the necessary funding and investments for Mauritius, leveraging the country’s robust legal framework and bilateral agreements.

The visit marks a significant step forward in cooperation, with the next challenge being the translation of these discussions into tangible results for Mauritian enterprises and their continental projects.

Source: Defi Media