Title: Investing in infrastructure development in Africa: an urgent necessity
Introduction :
Africa is experiencing exponential demographic growth, with a population expected to reach 2.5 billion by 2050. Faced with this upheaval, the continent must imperatively accelerate the development of its infrastructure to ensure sustainable and equitable growth. This issue was widely discussed at the Bloomberg New Economy conference, which was held in Marrakech last June. In this article, we will explore why and how it is crucial to invest in infrastructure development in Africa.
The essential role of infrastructure in economic development:
Claudine Uwera, Rwandan Minister in charge of Economic Planning, underlines the importance of infrastructure for a sustainable economy in Africa. It highlights that air infrastructure, interregional transport and energy infrastructure are key elements to be unlocked in order to promote regional and international trade, and promote economic development.
The need for massive investment:
According to the African Development Bank, Africa needs to invest around $100 billion a year in its infrastructure to fully exploit its economic potential. However, Hamza Kabbaj, managing director of Société Générale des Travaux du Maroc, points out that the main problem is not so much funding as the lack of long-term vision. He insists on the need to measure investments in infrastructure over a period of 15 to 25 years to derive real added value and attract the foreign investment necessary for the development of countries.
Towards sustainable and energy infrastructures:
In addition to the development of traditional infrastructure, it is essential to invest in renewable energies to meet Africa’s energy needs. Before thinking about the energy transition, the priority remains access to electricity for the 600 million people who are currently deprived of it. Otmane Benamar, from the company Gas Power GE Vernova, points out that improving people’s living conditions and economies depends on the supply of electricity, thus creating the right conditions for a sustainable energy transition.
Conclusion :
By investing in infrastructure development in Africa, it is possible to foster sustained and equitable economic growth. For this, it is essential to have a long-term vision, to mobilize adequate funding and to prioritize access to electricity and transport infrastructure. By implementing an effective and sustainable strategy, Africa will be able to meet the challenges of its development and offer a better future to its inhabitants