Africa Investment Forum: A Continent; Its Destiny And Capital, By Fredrick Nwabufo | Sahara Reporters

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OpEd: Africa Investment Forum: A Continent; Its Destiny And Capital, By FredrickNwabufo | Sahara Reporters

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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Africa Investment Forum: A continent; its destiny and capitalOPINION: The Africa of the future will be driven by infrastructure. But to achieve that future, infrastructure-led investments are critical – most especially in this time of global economic peril brought on by the COVID pandemic. That is true but Africa will have to learn to embrace peace and unity mostly Nigeria,we should put an end to ethnic bigotry What Africans need to do now, is to establish their own pharmaceutical industries so as to minimise western medicines and Vaccines. If we are Healthy, well & have sound mind, then we will be able to become innovative in all areas of work to drive up the lives of the Africans.
Source: Daily Trust - 🏆 13. / 51 Read more »