The Africa Investment Forum, a conference where the finest melange of the continent’s leaders and policymakers on one side -- and investors, big businesses, critical industry players on the other wing -- converge to discuss, decide and transact deals on exigent matters affecting Africa such as healthcare, food security, electricity, and transportation will take place this year from December 1 to 3 in Abidjan, Côte d'Ivoire.
According to AfDB’s economic outlook on Africa , the continent’s infrastructure needs amount to $130–170 billion a year, with a financing gap in the range $68–$108 billion. Clearly, Africa needs investment in critical infrastructure – power, transportation, water, agriculture, etc -- if it must industrialise and bridge the deficit, as well as reduce the unemployment of millions of youths. This underscores the viability of the Forum.
In addition, sector-specific discussions at this year’s event will include energy and climate –including reflections on November’s COP26 summit in Glasgow, UK – agriculture and agro-processing; health; ICT and telecommunications; and industry and trade. The AfDB, facilitator of the Forum, had said it would help Nigeria to bridge its infrastructure gap estimated to cost about $3 trillion in the next 26 years. According to Ebrima Faal, former director AfDB, Nigeria and director of operations committee secretariat, Nigeria’s infrastructure cumulative financing needs are estimated to reach $3 trillion by 2044 or about 100 billion dollars annually.
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Source: Daily Trust - 🏆 13. / 51 Read more »