JEDDAH: The ICD, the private sector arm of the Islamic Development Bank, which participates in equity capital and grant loans for productive and enterprises besides providing financial assistance to member countries in other forms for economic and social development, will share its financial approach to developing sustainable private sector growth at the Africa Finance & Investment Forum in South Africa.

The event takes place in Cape Town from Nov. 24-26.

Khaled Al-Aboodi, CEO of the Islamic Corporation for the Development of the Private Sector (ICD), will present to the international audience the bank’s approach to finance and the role it is and will play in developing Africa’s private sector during the official opening session alongside the European Investment Bank and other leading institutions.

“It is essential to gain insights and understanding of different ways to offer financial services in developing markets. ICD, with its wealth of knowledge and expertise, is a global leader and therefore its presence will be essential to all the participants coming to share best practices and to network,” explains Inês Bastos, senior EMRC program manager and AFIF’s founding project manager.

Themed “Access to Finance & Entrepreneurship”, AFIF 2015 will focus on innovative financial solutions to assist Africa’s businesses, showcasing the financial challenges and opportunities in agriculture, health, infrastructure and energy.

Alongside this, a Private Public Dialogue on Impact Investment, overseen by the UN Development Programme (UNDP) and the African Union will be held on Nov. 24.

This inaugural PPD provides a platform through which the public and private sector in Africa can discuss, agree and follow up on concrete interventions to catalyze the impact investment sector and contribute toward the achievement of the African Union’s Agenda 2063 and the recently ratified Sustainable Development Goals. 

This will lead to an official announcement of the UN Cape Town Declaration on Impact Investment in Africa at the end of the forum.

Held for the first time in Africa, AFIF 2015 is organized by EMRC in partnership with ICD and in collaboration with the European Investment Bank along with UNDP, DEG, Agri Academy, Pfizer, Old Mutual Investment Group Rabobank, BlueCloud, Afreximbank, and IFC.

The forum aims at showcasing innovative financial solutions to strengthen African SMEs by analyzing the challenges and opportunities in the Continent; and also to encourage the creation of partnerships via one-on-one business meetings, ensuring that participants leave with concrete results.

An expected 300 delegates from all over Africa, Europe, America and Middle East will take part.

This year AFIF will include a pre-conference Training on “Entrepreneurship” (Nov. 23), pre-arranged B2B meetings and informal networking activities.

AFIF will also incorporate the AFIF Entrepreneurship Award 2015, a competition supported by the Rabobank Foundation as well as The “Pfizer Health Entrepreneurship Award” and a Pitching Session by The Innovation Hub (South Africa).

Established in 1992 in Brussels, EMRC is a non-governmental organization composed of a network of entrepreneurs, financiers, consultants and officials based throughout the world.

EMRC’s mission is to lead the private sector in Africa to sustainable economic development and to drive regional change via partnerships.