AFRICA FACING 100 BILLION USD ANNUAL INFRASTRUCTURE GAP

JOHANNESBURG, South African Economic Development Minister Ebrahim Patel says the infrastructure gap in Africa is estimated at about 100 billion US dollars a year and analysts suggest that both private and public sector developers must play a critical role in the development agenda on the continent.

Patel said when addressing the National Policy Conference of the ruling African National Congress (ANC) here Monday that South Africa must be the flag bearer for companies in the country to play their part in Africa’s infrastructure development.

It has been estimated that the infrastructure gap on the continent is something like 100 billion dollars, an enormous sum of money that has to be invested every year to be able to ensure that Africa can meet the needs of a rapidly urbanizing population and still relatively high growth rates in many parts of the continent,” Patel said.

“So there are very practical things that we can do, so that the South African government becomes the flag carrier for South African companies. That’s a critical part of what we need to do now.

Source: NAM NEWS NETWORK

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