West African Business Leaders Target $15bn Investment Portfolio
• Bio, Elumelu lead push to turn $10bn projects into bankable deals •Dangote Group, UBA, AFC, Afreximbank seek investments •Sanwo-Olu calls for free movement of goods, services across W’Africa Emmanuel
West African business leaders and financial institutions are aiming to invest a minimum of $15 billion ahead of the inaugural West Africa Integration and Investment Summit in Sierra Leone. The ambitious project, spearheaded by Sierra Leone's President Julius Bio and Tony Elumelu, Chairman of Heirs Holdings, has identified 26 projects valued at over $10 billion from more than ten countries.
The summit is scheduled for November 17 and 18, with organizers pledging to track whether the proposed investments lead to actual capital flows. The initiative, held in Lagos, brought together business executives, development finance institutions, and Lagos State Governor Babajide Sanwo-Olu to mobilize private capital for regional integration.
Bio emphasized the need for West Africa to move beyond discussions and build a functioning common market that serves more than 400 million people. Elumelu called for transforming ideas into partnerships, partnerships into investments, and investments into lasting prosperity for the continent. The success of the initiative relies on governments providing policy certainty, efficient regulation, and security to encourage long-term investment.
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