Africa needs to drastically increase infrastructure spending, as it remains central to the continent’s development. With Africa currently spending around $45 billion per year on infrastructure, the World Bank has advised this should actually be in the region of around $93 billion if the continent wants to make inroads in addressing its infrastructure backlog. With infrastructure upgrades being responsible for more than half of Africa’s recent improved growth performance, its infrastructure networks continue to lag behind those of other developing countries.
‘$93bn needed for Africa’s infrastructure’
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