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By 2030 Africa will have 760 million urban residents. By 2050 the figure is expected to grow to 1.2 billion. This rapid migration has intensified the need to develop Africa’s megacities, and infrastructure has become one of the key strategic priorities amongst senior leaders throughout Africa.
Whilst Africa is often perceived as a mysterious, underdeveloped continent, it’s quickly becoming one of the most valuable emerging markets for infrastructure. In fact, infrastructure development – in the form of megacities – is one of the key strategic priorities for senior African leaders. What’s driving infrastructure development in Africa?
The centralisation of policy decisions in most African countries adds to this, leaving local municipalities out of the loop despite the impact of mega-infrastructure in their area. More comprehensive national development plans will be needed to ensure that the people on the ground enjoy the benefits of economic growth as they were envisaged in the AMV. Boylan suggests tying small business investment to PPP development to promote projects and encourage local participation.
The infrastructure deficit is often noted as having a massive impact on the continent’s development and growth, with infrastructure highlighted as a key area requiring investment. The 23rd World Economic Forum has a central theme of Delivering on Africa’s Promise, and has infrastructure as a dominant and recurring topic for discussion.
Based on the principles of the Spatial Development Initiative (SDI) conceived by the South African government in 1995, resource corridors in Africa are areas in which opportunities (mainly resource-based anchor projects and associated infrastructure) have been identified that can be realised through investments to achieve sustainable development, particularly development brought in other sectors through access to the resource infrastructure.
Agricultural transformation is about individual farms shifting from highly diversified, subsistence-oriented production towards more specialised, market-oriented production. This involves a greater reliance on input and output delivery systems and increased integration of agriculture with other sectors of the economy.
There is no question that poor infrastructure development is one of the greatest inhibiting factors for economic and social development across Africa, or that the continent’s rich natural resources are its best leverage for turning this situation around …
REACT – the Renewable Energy and Adaptation to Climate Change Technologies – calls for innovative business models to bring sustainable technologies to rural consumers in response to the following challenges …
The Africa Enterprise Challenge Fund has challenged private businesses to do just that. Its Renewable Energy and Adaptation to Climate Change Technologies (REACT) funding window calls for businesses to propose and test out innovative models …
While African cities do bring with them great economic growth prospects and coordinated development, and urbanisation is often associated with rising incomes and better living standards, lack of resources, inadequate infrastructure and poor planning or management pose enormous challenges …
Africa’s rate of urbanisation and the development of cities has been slow, but the rise of emerging African cities has coincided with the continent’s growth and rejuvenation …
The rise of cities in Africa and their role in economic development is a global phenomenon. Today, over half the world’s population are urban dwellers, generating, in some cases, up to 80% of a country’s national production and income. By 2025 cities will house over 4 billion consumers…
While many regions around the world are now experiencing slow or stagnant economic growth, Africa stands out as a land of significant untapped opportunity. The continent boasts the highest levels of resource reserves in the world, Gross Domestic Product (GDP) is growing at around 5 percent per year and populations are set to double by 2050.
Modern infrastructure is the backbone of any economy. Inefficient infrastructure is an impediment to sustainable economic growth. Infrastructure development continues to be significant in Africa. It is, however, important to focus on the dual nature of infrastructure development – namely development of the people as well as physical development.
As the mature economies of Europe, America and Asia continue to struggle, the eyes of the world have started to focus onto the wealth of opportunity that can only be found in Africa. And rightfully so. Right across the great continent, we are witnessing rapid rates of urbanization and population growth which, in turn, is creating one of the fastest growing labour forces and consumer markets in the world.
The World Economic Forum (“WEF”) is an independent international organization committed to improving the state of the world by engaging business, political, academic and other leaders of society to shape global, regional and industry agendas.
To many, Africa is a land of mystery and danger; a place where development is needed and investment is scarce; a complex patchwork of countries, cultures and societies. But to a growing number of infrastructure developers and investors, Africa is quickly becoming one of the hottest and most valuable emerging markets for infrastructure in the world.
From Cairo to the Cape, major new infrastructure projects are now being planned, developed and delivered with the promise of unlocking stranded natural resources, enhancing prosperity and improving the lives of the continent’s billion citizens.
Given South Africa’s heavy reliance on energy-intensive industries such as mining and manufacturing, it should come as no surprise that the country now boasts Africa’s most comprehensive and transparent energy policy. Ensuring a secure source of power is central to the country’s growth. South Africa currently uses some 40 percent of the total electricity consumed on the continent and outside of a few peak periods where power is imported from the Democratic Republic of Congo (DRC) – the country is largely self-sufficient in power generation. With steadily climbing economic and demographic growth rates, it is clear that the country will require continuous capacity increases to keep pace with projected growth.
South Africa has – in many ways – outstripped Africa’s rate of development by leaps and bounds. Since the arrival of democracy in 1995, the country has enjoyed a veritable infrastructure renaissance that has only been picking up steam over the past decade.
African infrastructure development faces a key challenge in attracting private sector and foreign direct investment. Fortunately, catalyst projects can encourage investment in infrastructure development and thereby stimulate growth. This is on condition African nations address the need for bankable projects and the successful financial closure of projects.
The wind of change has hit the African continent and economic recovery is on its way. Many institutional investors have woken up to the African call to realise the potential of this continent.
Kofi Annan, former Secretary General of the United Nations, pointed out that although the Africa-wide growth rate of 5.5% was impressive, more had to be done as the poor quality of leadership in Africa risks hampering the continent’s rapid economic growth. Following the World Economic Forum Africa Regional Summit which took place in South Africa in May 2011, world leaders went back to their respective countries with a new frame of mind.
Investing in Mauritius offers a safe and business-friendly location for the investor community and, with its cosmopolitan and bilingual heritage, it is the ideal stepping-stone for investment …
Official aid (development assistance) alone will not be adequate for funding efforts to accelerate economic growth, poverty alleviation and other Millennium Development Goals (MDGs) in Africa.
Global, regional and national growth all require a blend of many contributing factors, such as a robust private sector, the political will to create an environment conducive to business’s and institutional structures and mechanisms to cater for these markets as well as the social conditions of education, health, water and sanitation, etc. True growth and development encompasses all these in a complex nexus of facilitation and delivery.
Over the last few decades, many development objectives have been pursued through multilateral and bilateral donors channelling aid to developing nations through governments, Non-Governmental Organisations (NGOs), United Nations agencies and initiatives such as the Global Fund.
The first decade of the 21st century’s main goal was poverty reduction, but Private Sector Development (PSD) has recently received much priority. The aim of PSD is to get the economic fundamentals right, such as fiscal, monetary and trade policies, privatisation and ‘cutting red tape’.
KPMG names six African infrastructure projects among the 100 most innovative global infrastructure projects that make cities liveable and sustainable …
Road and rail infrastructure development projects are highly advantageous for the future of the domestic economy …
In this episode of the Africa Conversation Series, the panel of industry experts discuss the challenges that infrastructure poses of the progression and economic growth of Africa. The constraints to growth posed by inadequate infrastructure – whether it be road, rail, power, or ICT – is all too familiar. There is persistant talk of need to be physically building Africa. In this episode we hear a discussion on the pace of transformation and the strides that have been take in the area of infrastructure in Africa.