By Joseph Momoh, Reporter D.S
FREETOWN — President Julius Maada Bio and Nigerian business mogul Tony Elumelu are spearheading a major drive to attract up to US$15 billion in private-sector investment for development projects across West Africa.
The initiative, linked to the West Africa Integration and Investment Summit (WAIIS), seeks to boost regional trade, improve infrastructure and unlock new economic opportunities, according to Business Insider Africa.
So far, 170 project proposals have been reviewed, with 26 high-impact projects valued at over US$10 billion shortlisted from more than ten African countries for potential investment.
The investment push focuses on key sectors including energy, infrastructure, industrial development, agriculture, strategic minerals and digital technology.
Financial institutions including the Africa Finance Corporation, Afreximbank, UBA and Ecobank are supporting efforts to mobilise the investment.
The proposed US$15 billion represents an investment pipeline currently being developed, rather than funding already secured.
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