Infrastructure is still a major headache in Africa, it was estimated that $90 billion will be required annually between 2016 – 2026 in order to close the gap relative to what’s obtainable in developed countries. Access to energy, affordable housing, efficient transport and reliable communication systems still remain a luxury for many Africans. There are now initiatives like the Program for Infrastructure Development in Africa (PIDA) looking to close the gap before 2040. African nations are also depending on a combination of private sector investment, pension funds, sovereign wealth funds and their forex reserves invested offshore to quickly close the gap. There has been some progress but there’s still a long road ahead.
Plugging Africa’s infrastructure gap relative to the rest of the developing world will increase GDP per capita by 1.7%. Infrastructure investments are known to create jobs and deliver development to the under-served or rural communities. In an article, Dr. Ibrahim Mayaki (CEO – NEPAD) pointed out that “better quantity and quality of infrastructure can directly raise the productivity of human and physical capital and hence growth.” The impact of infrastructural development on innovation and tech entrepreneurship cannot be over-emphasized. Having said that, Click here to read entire article
Source:: Tech Cabal