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“ICD stands ready to cooperate and extend its available expertise and resources to all potential partners, and viable projects, to pay its tribute to the development of this great region,” announced Khaled Al-Aboodi CEO of the Islamic Corporation for the Development of the Private Sector (ICD) in the run up to the Africa Finance and Investment Forum 2014 (AFIF 2014) and as one of the forum’s official partners.
“We are ready to support private sector projects in Africa with the prerequisite that these projects help to create jobs and provide clear development impacts. ICD is also keen to encourage and facilitate the channeling of foreign investments into African Member Countries, and provides advice to governments and private enterprises,”Khaled Al-Aboodi explains who heads a multilateral organization affiliated with the Islamic Development Bank (IDB) Group. Its authorized capital stands at $2.0 billion, of which $1.0 billion is available for subscription.
The ICD partnership with AFIF 2014 gives participants the opportunity to access a leading financial organization in the Middle East and beyond. Their vision is parallel to AFIF 2014’s focus on ‘Financing Business Opportunities’ and parallel to Germany’s vision, one of the World’s leading economies, towards trade relations with Africa.
The forum will take place at the DEG (German Investment and Development Corporation) headquarters in Cologne, Germany. An expected two hundred selected professionals and decision makers coming from Africa, Europe and beyond representing larger business as well as Small and Medium Entrepreneurs (SME) from Africa.
Khaled Al-Aboodi adds, “It is noteworthy that we have focused on increasing support to Small and Medium-Sized Enterprises, encouraging cross border investments by financing GCC (Gulf Cooperation Council) companies’ expansion in Africa, developing the Islamic finance industry and by creating and supporting Islamic banking in the region.”
In addition to ICD, AFIF2014 partners include: AFREXIMBANK( African Export Import Bank); BNDES (Bank of Development of Brazil); EIB (European Investment Bank); IFC (World Bank); UN/WTO – International Trade Centre; ADC (African Development Corporation); Delta State (Nigeria); Shell Foundation and the German Trade/Business organizations AfrikaVerein and SAFRI (Southern Africa Initiative of German Business). ECOWAS (Economic Community of West African States) and FEWACCI (Federation of West African Chambers of Commerce and Industry are also partner organizations of this year edition.
Professor Monty Jones, elected EMRC President in January 2014 will chair AFIF 2014. Prof. Jones was named one of the 100 most influential scientists in the world by Time Magazine in 2007, was the recipient of the 2004 World Food Prize, and today is the Special Advisor to the President of Sierra Leone.
The forum will provide a conducive environment for the tailor-made B2B meetings, to ensure maximum business partnership success. For two entire afternoons, participants, speakers, and partners will sit down for one-on-one meetings to establish business relations. Last year’s forum saw around 700 B2B meetings taking place.
In addition, the renowned EMRC Project Incubator Award of $15,000 will spotlight the forum’s title, showcasing projects which have used financing to their advantage and in parallel require further access to finance to expand. Each finalist project will be presented in front of the public and to a panel of global experts who will judge the presentation based on specific criteria, with the winner taking home a cash prize of $15,000 US sponsored by EMRC.
The forum will have simultaneous interpretation in English, French and Portuguese.