by SAVIOUS KWINIKA
AFRICA needs investments of US$621 billion to meet the United Nations Sustainable Development Goals (SDGs) for universal access to clean water, sanitation and electricity.
This is according to a report by the Global Infrastructure Hub, a G20 initiative.
Titled Global Infrastructure Outlook: Infrastructure Investment Need in the Compact with Africa Countries, it highlighted a need for infrastructure investment in Compact with Africa countries, and highlight the reforms required to encourage greater investment.
The report exposes an investment gap of US$415 billion.
The required US$621 billion is part of a greater total infrastructure investment need of US$2.4 trillion for energy, telecommunications, airports, ports, rail, roads and water to 2040, if these 10 countries are to meet the demands of accelerating economic and population growth.
Among the Compact with Africa countries are Benin, Egypt,Ethiopia, Ghana, Guinea, Ivory Coast, Morocco, Rwanda, Senegal, Tunisia and Togo.
According to the report, to maximise the investment opportunities for the 10 countries, work needs to be done to improve governance and regulatory and institutional frameworks.
Ludger Schuknecht, German G20 Finance Deputy and Co-Chair of the G20 Africa Advisory Group welcomed the Global Infrastructure Hub’s activities towards analysing investment conditions in Compact with Africa countries.
“This will help Compact Countries, together with partners, in developing sound policy frameworks for sustainable private investment,” he said.
– CAJ News