Johannesburg — SOUTH Africa has expressed readiness to host the 2018 Africa Investment Forum, lauded as a world-class initiative uniquely positioned to transform the continent's development landscape.
The inaugural forum, organised by the African Development Bank (AfDB) is set for the commercial hub of Johannesburg in the Gauteng Province from November 7-9.
"Gauteng is ready and excited to host the event here in Johannesburg," Akinwumi Adesina, AfDB President, said in Johannesburg.
The bank was set to officially launch the Africa Investment Forum on Tuesday .
"The Africa Investment Forum is one of the best platforms ever to be offered on our home continent. Thank you for choosing Gauteng and South Africa," said David Makhura, Premier of the host province.
He said South Africa would need US$100 billion over the next ten years for infrastructure development.
"The African Investment Forum will be a place where we want to bring in a pool of capital for projects. Africa has potential," Makhura said.
The forum provides an open platform to organize efforts among multilateral institutions, governments and the private sector to improve the pipeline of projects that can transform the continent.
Speaking at a meeting with the AfDB delegation, South Africa's Finance Minister, Nhlanhla Nene, hailed the country as a gateway for investments on the continent and a leading African investor.
South Africa's is the continent's most advanced economy.
"We thank you for allowing South Africa to host the inaugural event," Nene told the AfDB delegation.