African countries are investing billions more on infrastructure development than commonly believed, according to a new World Bank study “Africa's Infrastructure: A Time for Transformation”. According to the study of 24 African countries (including South Africa), they are spending a total of around US$45-billion a year on infrastructure projects. Most of this is domestically financed by African tax payers and consumers – making African utility costs among the highest in the world.
Africa investing billions in infrastructure
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