Moreover, investment in transport construction in Africa, is set for rapid growth from $47.1 billion this year to $69 billion next year , based on projects being tracked by a leading data and analytics company, GlobalData.
GlobalData is currently tracking 448 large-scale transport projects across Africa worth $430.3bn in both the public and private sectors at all stages from announcement to execution. Ghozzi said the continent accounts for 12 per cent of the world population, but generates a mere one per cent of global GDP and only two per cent of world trade.
Ghozzi added: “The March 2018 agreement to establish the African Continental Free Trade Area has potential to be a turning point in the continent’s ambition to boost intra-African trade and spur economic development.