Africa Secures Over $3.5 Billion in Transformative Business Deals at Indonesia-Africa Forum

The 2nd Indonesia-Africa Forum (IAF), held in Bali from September 1st to 3rd, 2024, ushered in a new era of economic collaboration between Africa and Asia, as over $3.5 billion in groundbreaking business deals were secured. The forum, a prestigious platform for strengthening ties across the continents, attracted leaders and key stakeholders from across Africa, highlighting the region’s growing influence on the global economic stage. These agreements, spanning vital sectors such as mining, agriculture, renewable energy, healthcare, and food security, promise to accelerate Africa’s development and deepen partnerships with Asian economies.

A total of 32 business agreements, valued at over $3.5 billion, were signed during the forum. These partnerships span multiple industries such as mining, agriculture, renewable energy, healthcare, and food security, highlighting the broad scope of African-Asian cooperation. The deals were facilitated through direct collaboration between Indonesian MSMEs (Micro, Small, and Medium Enterprises) and businesses from various African countries.

The Honourable Minister of Information and National Orientation of Nigeria, Mohammed Idris Malagi, led Nigeria’s delegation on behalf of President Bola Ahmed Tinubu. Nigeria’s involvement was crucial, with several members of the Nigerian Indonesian Chamber of Commerce & Industry attending, positioning the country as a significant player in the forum’s discussions and outcomes. However, the forum’s impact extended beyond Nigeria, with the entire African continent benefiting from strengthened ties and new business opportunities.

In addition to business partnerships, a Memorandum of Cooperation (MoC) was signed between Indonesia’s Ministry of Foreign Affairs and the Japan International Cooperation Agency (JICA). This agreement aims to advance development cooperation across Africa, further enhancing the continent’s economic prospects.

The forum was attended by key African leaders, including the Presidents of Liberia, Rwanda, Ghana, Zimbabwe, and the Prime Minister of Eswatini. With Africa at the center of numerous business discussions, the region is poised to gain from increased investments and closer bilateral relations with Indonesia and other Asian nations.

Highlights from the events