The investment deficit for infrastructure in Africa exceeds US$48 billion per year, and the lack of basic infrastructure costs every African country two-percentage-points annually.
This has emerged at the Build Africa infrastructure summit held this week in Brazzaville, the capital of the Republic of Congo.
“Sustainable modernisation in a country must be part of a comprehensive approach to infrastructure, taking into account its social, economic or environmental features,” Congolese President Denis Sassou N’Guesso said.
“This is the most crucial requirement for infrastructure to become a powerful tool to untie Africa’s development potential,” N’Guesso, who has been ruling this oil-rich nation for more than 20 years, added.
The two-day forum, which sought to provide a comprehensive response to the continent’s infrastructure deficit, discussed the following issues: job creation, inclusive growth, innovative financing, sustainable development, innovation, and regional integration, among others.
“Failing to address the challenges of poor infrastructure in Africa is jeopardising the social and economic development expected by more than one billion Africans,” Congolese minister Jean-Jacques Bouya told over 700 delegates from 50 countries.
More than 800 infrastructure projects have been identified in Africa in 2012, according to Ernst & Young.
Photo: Most roads in Africa look like this, sometimes worse. Credit: Hsdl.org