Abu Dhabi Investment Authority (Adia) is hosting more than 180 representatives of sovereign wealth funds, Africa focused asset managers, bankers at a two-day event in the capital that looks at the investment potential of the African continent. Established in 1976, Adia is one the world’s largest sovereign funds, according to ranking providers, that invests on behalf of the government – after Norway and China.

The event brings global long-term investors and African sovereign funds together to prospect the investment potential of Africa.

The summit introduce investors with Africa’s macroeconomic outlook, public and private capital markets, infrastructure investment potential and high growth sectors.

AIS participants represent 22 countries, including seven African nations, along with senior delegates from 13 sovereign wealth funds.

The Africa Investment Summit (AIS), through a series of presentations and workshops, casts light on ways long-term asset owners can access investment opportunities in the continent, Adia said.

Africa, regarded as the world's last frontier of growth, has a population of about 1.3 billion people and is home to major economies such as South Africa and Opec members Nigeria, Gabon, Algeria and Congo. Africa’s economy is forecast to accelerate to 4 per cent this year, and 4.1 per cent in 2020, according to the African Development Bank.

Sheikh Hamed bin Zayed, managing director of Adia, said “with young and rapidly growing populations and an emerging middle class, Africa is an increasingly important and attractive market for investors.”

“With their long term outlooks, sovereign wealth funds and other long-term asset owners make ideal investment partners for African organisations seeking stable capital,” he continued.

Sub-Saharan African economies are expected to grow 3.4 per cent in 2019 and 3.6 per cent in 2020, according to the International Monetary Fund.

Africa presents investment opportunities across various sectors as countries look to modernise their infrastructures. Energy, renewables, health care, education, agriculture, rail and roads, airports, trade and logistics zones are areas open to investment.

Various African countries are also trying to improve their oil and gas infrastructure and broaden their industrial base to diversify their economies.

Adia is at present the chair of the International Forum of Sovereign Wealth and a founding member of the One Planet Sovereign Wealth Fund Working Group.