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.
