-
Tony Elumelu is part of an initiative seeking to develop a $15bn pipeline of investment projects across West Africa.
-
Organisers selected 26 projects worth more than $10bn from 170 submissions spanning over 10 countries.
-
Energy, trade, industrialisation, strategic minerals, agribusiness and digital transformation are among the priority sectors.
October 16, (THEWILL) – Nigerian investor Tony Elumelu is part of a team developing a $15bn pipeline of investment projects across West Africa, as regional leaders seek to mobilise capital to address the region’s infrastructure deficit.
Elumelu, chairman of Heirs Holdings and co-chair of the West Africa Integration and Investment Summit, said the team had identified projects to be presented to potential lenders ahead of the inaugural summit scheduled to take place in Sierra Leone in November.
The proposed investments cover energy, trade and industrialisation, strategic minerals, agribusiness and digital transformation, according to Elumelu, who disclosed the details in an email response to questions.
United Bank for Africa, African Export-Import Bank, Africa Finance Corporation and Africa50 are among the institutions expected to review the proposed projects.
26 projects selected from 170 submissions
Kandeh Kolleh Yumkella, special envoy for the West Africa Integration and Investment Summit, said organisers received 170 project submissions and selected 26 projects valued at more than $10bn.
“We received 170 project submissions and have selected 26 real projects worth more than $10 billion from over ten countries,” Yumkella said in a statement emailed by the summit organisers.
He added that the portfolio was expected to reach $15bn or more by the time of the summit.
The distinction between the value of proposed projects and secured financing remains important.
The figures announced by the organisers represent a pipeline of selected investments, rather than evidence that the projects have received funding or reached implementation.
The summit was initiated and convened by Sierra Leone President Julius Maada Bio. Elumelu said the gathering would seek to accelerate capital mobilisation for projects in sectors identified as priorities for regional development.
READ ALSO:
Financing focus on strategic sectors
West African countries face infrastructure and investment challenges across areas including power supply, transport, industrial capacity and digital connectivity.
The proposed pipeline brings together projects from multiple countries and sectors in an effort to attract financing from regional and international institutions.
The participation of financial institutions such as UBA, Afreximbank, AFC and Africa50 could provide a route for project assessment and engagement with prospective funders.
However, the extent to which the initiative translates into investment will depend on the projects’ readiness, financing structures and ability to meet lenders’ requirements.
With 26 projects selected from 170 submissions, the November summit is expected to provide a platform for presenting the proposals to potential financiers and advancing the region’s investment agenda.
Ogochukwu Onwaeze is a writer specializing in business and economic journalism. At THEWILL News Media, she translates market trends, financial developments, and policy shifts into clear and engaging stories.
