{"id":13902,"date":"2024-09-04T09:11:00","date_gmt":"2024-09-04T09:11:00","guid":{"rendered":"https:\/\/gbc1.net\/?p=13902"},"modified":"2025-09-11T04:41:01","modified_gmt":"2025-09-11T00:41:01","slug":"2nd-indonesia-africa-forum-2024-generates-3-5b-of-deals","status":"publish","type":"post","link":"https:\/\/gbc1.net\/index.php\/2024\/09\/04\/2nd-indonesia-africa-forum-2024-generates-3-5b-of-deals\/","title":{"rendered":"2nd Indonesia-Africa Forum 2024 Generates $3.5B of Deals"},"content":{"rendered":"\n<p>The 2nd Indonesia-Africa Forum (<a href=\"https:\/\/gbc1.net\/index.php\/tag\/iaf2024\/\">#IAF2024<\/a>) took place in the resort island of Bali started on 1 September and concluded on 3 September 2024. Despite not being able t attract a large number of African heads of states or governments, Indonesia nevertheless managed to have about USD 3.5 billion worth of deals sealed. <\/p>\n\n\n\n<p>In all, 29 African states sent delegations to <a href=\"https:\/\/gbc1.net\/index.php\/tag\/iaf2024\/\">#IAF2024<\/a>, compared to 47 countries at the inaugural session in 2018. It is worth noting that China is holding its 9th FOCAC Summit in Beijing  from 4 to 6 September 2024, causing some African leaders to skip Bali for Beijing.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-dominant-color=\"a88c93\" data-has-transparency=\"false\" style=\"--dominant-color: #a88c93;\" decoding=\"async\" loading=\"lazy\" width=\"640\" height=\"400\" src=\"https:\/\/gbc1.net\/wp-content\/uploads\/2024\/09\/07-640x400-1-jpg.webp\" alt=\"Family Photo at 2nd Indonesia-Africa Forum 2024\" class=\"not-transparent wp-image-13912\" srcset=\"https:\/\/gbc1.net\/wp-content\/uploads\/2024\/09\/07-640x400-1-jpg.webp 640w, https:\/\/gbc1.net\/wp-content\/uploads\/2024\/09\/07-640x400-1-300x188.webp 300w\" sizes=\"(max-width: 640px) 100vw, 640px\" \/><figcaption class=\"wp-element-caption\">Family Photo at 2nd Indonesia-Africa Forum 2024<\/figcaption><\/figure><\/div>\n\n\n<p>Last time, the Indonesia-Africa Forum (IAF) was held was back in 2018 and the total size of deals then was a modest USD 600 million. In his welcome address, Indonesian Joko Widodo underscored that the IAF has contributed to expand the economic partnership between Indonesia and Africa. <\/p>\n\n\n\n<p>Indonesia also views Africa as an emerging and promising market and instituted the IAF in order to diversify from traditional partners such as China, USA and Japan. The need to diversify became more acute as the Chinese economy is slowing, the Japanese economy is anemic while the USA faces some degree of uncertainty with the upcoming Presidential election.<\/p>\n\n\n<div class=\"wp-block-image\">\n<figure class=\"aligncenter size-full\"><img data-dominant-color=\"a99988\" data-has-transparency=\"false\" style=\"--dominant-color: #a99988;\" decoding=\"async\" loading=\"lazy\" width=\"600\" height=\"400\" src=\"https:\/\/gbc1.net\/wp-content\/uploads\/2024\/09\/06-w-jpg.webp\" alt=\"Leaders' Roundtable at 2nd Indonesia-Africa Forum 2024\" class=\"not-transparent wp-image-13907\" srcset=\"https:\/\/gbc1.net\/wp-content\/uploads\/2024\/09\/06-w-jpg.webp 600w, https:\/\/gbc1.net\/wp-content\/uploads\/2024\/09\/06-w-300x200.webp 300w\" sizes=\"(max-width: 600px) 100vw, 600px\" \/><figcaption class=\"wp-element-caption\">Leaders&#8217; Roundtable at 2nd Indonesia-Africa Forum 2024<\/figcaption><\/figure><\/div>\n\n\n<p>A total of 32 deals were sealed during <a href=\"https:\/\/gbc1.net\/index.php\/tag\/iaf2024\/\">#IAF2024<\/a>, and some of the key ones are as follows:<\/p>\n\n\n\n<ul>\n<li>Pertamina acquires gas block in Mnanzi Bay, Tanzania<\/li>\n\n\n\n<li>PLN to develop geothermal projects in Tanzania<\/li>\n\n\n\n<li>PT Essa to partner with TPDC to set up an ammonia fertilizer plant in Tanzania<\/li>\n\n\n\n<li>PT Saputra to suppply coal fertilizer machinery to Nigeria<\/li>\n\n\n\n<li>PT Energi Mega Presada to develop power plants in South Africa<\/li>\n\n\n\n<li>Biofarma to partner with Ghana&#8217;s Atlantic Lifescinences and Kenya&#8217;s Biovax Institute<\/li>\n\n\n\n<li>Biofarma to supply vaccines and medicines to Nigeria, Uganda, and Zimbabwe<\/li>\n<\/ul>\n\n\n\n<p>Other deals included the sale of small aircrafts made in Indonesia and some Indonesian oil companies also brokered some partnerships. Although business was the main topic, geopolitics made its way into the discussions. Indonesia has substantial reserves of aluminum and nickel and its success in monetizing its mining resources and moving up the value chain could serve as an inspiration to many African countries which are similarly endowed.<\/p>\n\n\n\n<p>President Widodo is also seeking to enhance the standing of Indonesia on the global stage and to become a spokesperson for the <a href=\"https:\/\/gbc1.net\/index.php\/tag\/globalsouth\/\">#GlobalSouth<\/a>, with this edition&#8217;s theme of the IAF harking back to the Bandung Spirit of 1955. In fact, Foreign Affairs Minister Retno Marsudi announced that Indonesia plans to celebrate the Platinum Jubilee of the Asian-African Conference in 2025. <\/p>\n\n\n\n<blockquote class=\"wp-block-quote\">\n<p>&#8220;Jakarta can boast history and legacy of relationship that stretches back to the Bandung Conference. Indonesia has really sought to leverage on that historical relationship.&#8221;<\/p>\n<cite>Canregie Endowment for International Peace Senior Fellow Elina Noor<\/cite><\/blockquote>\n","protected":false},"excerpt":{"rendered":"<p>The 2nd Indonesia-Africa Forum (#IAF2024) took place in the resort island of Bali started on 1 September and concluded on<\/p>\n","protected":false},"author":1,"featured_media":13905,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"om_disable_all_campaigns":false,"_mi_skip_tracking":false,"_EventAllDay":false,"_EventTimezone":"","_EventStartDate":"","_EventEndDate":"","_EventStartDateUTC":"","_EventEndDateUTC":"","_EventShowMap":false,"_EventShowMapLink":false,"_EventURL":"","_EventCost":"","_EventCostDescription":"","_EventCurrencySymbol":"","_EventCurrencyCode":"","_EventCurrencyPosition":"","_EventDateTimeSeparator":"","_EventTimeRangeSeparator":"","_EventOrganizerID":[],"_EventVenueID":0,"_OrganizerEmail":"","_OrganizerPhone":"","_OrganizerWebsite":"","_VenueAddress":"","_VenueCity":"","_VenueCountry":"","_VenueProvince":"","_VenueZip":"","_VenuePhone":"","_VenueURL":"","_VenueStateProvince":"","_VenueLat":"","_VenueLng":""},"categories":[249],"tags":[170,637],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v19.12 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>2nd Indonesia-Africa Forum 2024 Generates $3.5B of Deals<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/gbc1.net\/index.php\/2024\/09\/04\/2nd-indonesia-africa-forum-2024-generates-3-5b-of-deals\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"2nd Indonesia-Africa Forum 2024 Generates $3.5B of Deals\" \/>\n<meta property=\"og:description\" content=\"The 2nd Indonesia-Africa Forum (#IAF2024) took place in the resort island of Bali started on 1 September and concluded on\" \/>\n<meta property=\"og:url\" content=\"https:\/\/gbc1.net\/index.php\/2024\/09\/04\/2nd-indonesia-africa-forum-2024-generates-3-5b-of-deals\/\" \/>\n<meta property=\"og:site_name\" content=\"Global Business Council (GBC)\" \/>\n<meta property=\"article:published_time\" content=\"2024-09-04T09:11:00+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2025-09-11T00:41:01+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/gbc1.net\/wp-content\/uploads\/2024\/09\/00-w-jpg.webp\" \/>\n\t<meta property=\"og:image:width\" content=\"600\" \/>\n\t<meta property=\"og:image:height\" content=\"400\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"gbc\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"gbc\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/gbc1.net\/index.php\/2024\/09\/04\/2nd-indonesia-africa-forum-2024-generates-3-5b-of-deals\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/gbc1.net\/index.php\/2024\/09\/04\/2nd-indonesia-africa-forum-2024-generates-3-5b-of-deals\/\"},\"author\":{\"name\":\"gbc\",\"@id\":\"https:\/\/gbc1.net\/#\/schema\/person\/cab6d6e84e5294af65e6aa76c5752fad\"},\"headline\":\"2nd Indonesia-Africa Forum 2024 Generates $3.5B of Deals\",\"datePublished\":\"2024-09-04T09:11:00+00:00\",\"dateModified\":\"2025-09-11T00:41:01+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/gbc1.net\/index.php\/2024\/09\/04\/2nd-indonesia-africa-forum-2024-generates-3-5b-of-deals\/\"},\"wordCount\":461,\"publisher\":{\"@id\":\"https:\/\/gbc1.net\/#organization\"},\"keywords\":[\"GlobalSouth\",\"IAF2024\"],\"articleSection\":[\"Trade &amp; 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