Browsing: Developing Africa’s infrastructure

Over the past decade Africa has been rife with infrastructure developments that hitherto continue to steadily transform the continent, spurring the much-needed economic development. This is well aligned to aspiration 2 of Africa’s Agenda 2063, which advocates for ‘an integrated continent politically united based on the ideas of Pan Africanism and the vision of African Renaissance’ with the key priority area of developing world class infrastructure that crisscrosses Africa.

Inadequate infrastructure in Sub-Saharan Africa has remained an existential hurdle to the continent’s achievement of robust economic growth. According to a report by Deloitte, this status quo has reduced national economic growth by two percentage points every year, and cut business productivity by as much as 40 per cent. In reiteration, another report by McKinsey and Company highlights that Africa faces an infrastructure paradox, in that there is need and availability of funding together with a large pipeline of potential projects…

  • African countries need to leverage more private funds to meet the estimated annual infrastructure financing needs of between $68 billion and $108 billion
  • Africa needs to utilise more private cash to finance infrastructure developments as part of public-private partnerships, which would help free public funds
  • African Development Bank has invested over $44 billion in infrastructure across transport, energy, health care, ICT, and water and sanitation, which was crucial to the continent’s growth and development

The chief executive officer of Africa50, an offshoot of the African Development Bank that focuses on infrastructure investment Bank, stated on Tuesday in Marrakech that African countries need to leverage more private funds to meet the estimated annual infrastructure financing needs of between $68 billion and $108 billion. Africa50 is an offshoot of the African Development Bank.

CEO Alain Ebobissé made these remarks on the eve of the launch of a U.S.-Africa business summit. He was …

Nigeria is working on a plan that will foster economic growth.

The National Road Transport Master Plan that is being developed is aimed at coming up with a comprehensive long-term Blueprint for road transportation in the country.

This, according to the West African Country will help guide future developments.

Senator Gbemisola Saraki who is in charge of the State Transport ministry made this known during the Transportation commissioners forum anual retreat 2021, themed “Developing and Fostering Synergy in the Management of Sustainable Transport Policies”.

Transportation infrastructure

According to Saraki, the current administration of President Muhammadu Buhari was committed to improving transportation infrastructure and services, in order to meet the needs of Nigerians and the economy.

She noted that improving Transportation Infrastructure and services was one of the priorities of this administration as part of the Economic Recovery and Growth Plan (ERGP).

“Nigeria’s transportation sector has for long been under significant …

While the African Continental Free Trade Area (AfCFTA) has become a reality, developing robust infrastructure is crucial to its operationalisation and success. 

For maximum benefit, member states to the trade agreement must be connected physically and digitally through hard infrastructure and connected in the harmonisation and coordination of processes through soft infrastructure. 

The pact connecting 1.3 billion people across the 55 African countries with a combined gross domestic product (GDP) valued at US$3.4 trillion faces huge challenges that need quick responses. These responses range from the dependence of African economies on commodity production and exports, the lack of diversification which has caused a mismatch between supply and demand, tariffs and non-tariff barriers (NTBs), inefficient transport infrastructure and poor trade logistics to high-security risk among others.

Read: China’s Belt and Road Initiative, AfCFTA to anchor Africa’s economy

To make it work, these challenges require huge direct funding which is