AIF2024: 아프리카 시장의 잠재력과 아시아 국가들의 아프리카 투자전략은?
Morocco played host to this year's Africa Investment Forum aimed at highlighting the continent's potential as a venue for investment.
My colleague Shin Ha-young reports from its capital city.
Africa, the world's youngest and fastest-growing continent is attracting strong investor interest.
This growing interest was further highlighted at the 2024 Africa Investment Forum, which took place throughout last week.
2-thousand-300 global investors, African business leaders, and government representatives from 83 countries gathered in Rabat, Morocco for the annual investment marketplace under the theme "Leveraging Innovative Partnerships for Scale.”
"Our focus is on a triple mandate, to advance high-impact projects to bankability, raise capital, and accelerate the closure of deals. ( ) Africa presents such a unique investment opportunity which cannot be ignored.”
"The three-day event also provided an opportunity to explore investments in Africa by emerging players, particularly from the Far East, including South Korea."
Africa holds 40 percent of the world’s reserves of critical minerals such as cobalt and manganese, making Africa critical for the global energy transition.
A panelist from the Japan Bank for International Cooperation emphasized domestic processing as a key factor in natural resource development projects in Africa, noting that it requires technical assistance from various key partners.
"Money is not the biggest problem for the development of the natural resources project in Africa. The structuring and working with other partners and gathering the expertise on various issues will be essential for materializing the tangible projects in Africa."
South Korea has also been strengthening ties with Africa, notably through the Korea-Africa Summit in June, where two sides agreed to launch a "critical minerals dialogue" aimed at sustainable development of the continent's resources.
Catherine Kim, Director of Corporate Relations at the South African Chamber of Commerce in Korea, noted Korea's heavy reliance on manufacturing, making it highly vulnerable to supply chain issues, hinting at the country's commitment to diversify its supply chain.
Kim emphasized Korea’s technological potential, stressing that finding the right local partners should be the top priority for Korean companies expanding in Africa.
"So for Africa, maybe they should be more understanding and a little bit more patient with Korean investors as we are relatively new we have lots of boxes to check. And for Korean investors, they should really learn more about the continent and all the financial institutions like we've seen at the AIF are doing to help mitigate the risk."
Africa is shifting away from the old industrialization approach when it comes to green minerals, aiming to industrialize and add value to its resources, offering new opportunities for global investors.
Shin Ha-young, Arirang News, Rabat.
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2024-12-11, 17:00 (KST)
