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Africa’s Growing Appetite for Infrastructure Expenditure

Keith Boyfield - July 2013

Speed Read
  • The African Development Bank estimates Africa’s infrastructure financing needs US$390 billion by 2024, much of it required for power projects.
  • Nigeria, Ghana, Senegal, Kenya, Namibia, and Zambia have tapped global markets to raise resources for domestic investment
  • A crucial area neglected in the past is the need to invest in infrastructure maintenance since many African projects have failed because of inadequate maintenance expenditure.

Africa is looking increasingly interesting to investors who are searching for attractive total returns on their capital. In the rush to invest in the continent much of this capital has been channelled into oil and gas assets, mines and agri-business projects. However, for the continent to begin to fulfil its potential considerable sums need to be invested in infrastructure, whether it is in the form of physical transport links, telecommunication cables or energy and social infrastructure, notably medical and educational services.


According to estimates published by the African Development Bank (AfDB) the continent’s infrastructure financing needs total US$390 billion over the medium term, i.e. by 2024, and much of this capital expenditure is primarily required for power project...

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