Since the mid-2000s,
Israel has signed several trade agreements and investment programs in Western
Africa, which are aimed at enhancing African infrastructure and technology,
particularly in the agriculture and energy sectors. In 2017, Israeli officials signed
a memorandum of understanding to invest $1 billion by 2021 to advance green
energy and power projects across the 15 members of the Economic Community of
West African States (ECOWAS).
Israeli investment
in the African continent goes beyond the public sector. Private sector
engagements have included agricultural projects that provide water-efficient seeds to
subsistence farmers and aid partnerships.
With Africa as the
fastest growing economy in the world, evidence suggests that Africa has now
entered a cycle of strong economic growth. Investors are now positioning
themselves to understand the opportunities across the African continent.
Therefore, Israel -
Africa Economic Forum will be a forum that will attract more investors to
Africa, create new market opportunities and promote mutual beneficial
relationship in business transactions among Israel and Africa.
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