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ADDIS ABABA, May 11 (Xinhua) -- A senior official from the African Union (AU) said Friday that Africa is a favorable place to invest in because profitability and returns are still the best in the world.

Deputy Chairperson of the AU Commission Erastus Mwencha said the continent had seen an increment in investments because of the change it was experiencing as regards investments, peace and security.

In a press statement released at the 22nd World Economic Forum on Africa, the official urged investors to "delve in responsible investments" and with models that would mutually benefit both countries and investors.

"We also need dialogue to ensure that we do business in a sustainable manner," he said.

In the same press statement, World Economic Forum Vice Chairperson Josette Sheeran said that the era of handouts in Africa was over.

"Africa is representing its own interests, knowing what it had to offer to the world, including partnerships that benefit its nations," she said. "Africa has to be in the driver's seat."

The two officials were speaking at a Grow Africa forum held on the sidelines of the World Economic Forum on Africa at the AU headquarters, according to the statement.

Grow Africa builds upon the Comprehensive African Agriculture Development Program (CAADP) Africa's strategy to boost agricultural productivity. It introduces transformative change in African agriculture based on national agricultural priorities and in support of CAADP.

The forum was jointly organized by the AU, the New Partnership for Africa's Development (NEPAD) Planning and Coordinating Agency (NPCA) and the World Economic Forum.

The forum attracted African heads of state and government from Ethiopia, Tanzania, and Rwanda, as well as over 200 high-level leaders of global, regional and national businesses, international organizations, civil society and farmers' organizations.