Financing Infrastructure in the World’s Final Frontier Market
As part of its 10th anniversary celebrations, the Africa Finance Corporation (AFC), the continent’s leading public-private sector infrastructure finance institution, is bringing together many of the top international players in this sector for high level discussions during the Summit in Abuja
The development and growth of any modern economy is inextricably linked to the state of its infrastructure. Well-developed infrastructure is usually a catalyst for industrialisation, capacity building, economic growth and better standards of living.
The unfortunate fact is that sub-Saharan Africa has lagged far behind other developing regions in terms of infrastructure development.
The World Bank and multilateral intuitions produced a comprehensive regional analysis on the ‘infrastructure gap’ which they figured would require investment of $93bn per annum – equivalent to 8% of its GDP – for both new infrastructure and maintenance and refurbishment, if the continent was to meet its growth targets.