On the 17th to 18th May 2018, the African Union (AU) and the European Union (EU) held the 6th Meeting of the Reference Group on Infrastructure (RGI) at the AU Headquarters in Addis Ababa, Ethiopia. This meeting is part of the Joint Africa-EU Strategy (JAES) that was launched at the Africa – EU Summit in Lisbon in 2007.
The African Development Bank unveils a plan to close the $130bn gap in infrastructure financing in Africa. Unveiled at the Africa Infrastructure Forum Roadshow held in Abuja on Tuesday 10 July 2018, the plan will take full shape at the African Investment Forum scheduled to be held in Johannesburg, South Africa in November 2018.
Africa is a hugely diverse continent, but much of it suffers from an ailing or non-existent infrastructural network. However, this gap offers huge growth potential for investors
The UK’s Department of International Trade (DIT) is pledging funding for infrastructure development in Africa, including £4-billion in South Africa, £1-billion in Kenya and £750-million in Nigeria, through export credit agency, UK Export Finance (Ukef).
Poor infrastructure, a lack of skills and excessive reliance on commodities has resulted in lower growth. What is needed is diversification in areas such as agriculture, manufacturing, healthcare, education and banking, claimed the Economist.
