‘Africa’s poor infrastructure is an opportunity for private investors’

Development in Africa
requires strategic partnerships
at three levels, says Dr
Ibrahim Assane Mayaki,
Nepad Planning and
Coordinating Agency CEO.
Speaking at a dinner for
Nepad ambassadors and
business executives in
Midrand recently, he called
for partnership among
Africans; partnership between
African countries and subregions;
and partnership with
the rest of the world.
The 10-year anniversary
of the New Partnership for
Africa’s Development this
year also offers a platform for
deeper reflection, he said.
“It is an occasion for
stock-taking of our work in
the past and a look into the
future while working on the
present,” said Mayaki.
According to Stanley
Subramoney, chairman of the
Nepad Business Foundation
(NBF) and panel member at
the event, Africa’s challenge
is its inability to compete
in a global landscape due
to its aged infrastructure.
However “while the capital
needed to drive infrastructure
development in Africa is
massive, this provides good
business opportunities for the
private sector to get involved
in smart strategic partnerships
with the public sector. Africa
is the growth continent,”
Subramoney, noted.
Experts agreed focus also
needed to remain on the
North-South corridor, with
a major proposal to upgrade
and extend land transport
links (road and rail) in
southern Africa. This is part
of the group of seven projects
prioritised by Nepad.
According to Dr Cassius
Lubis, a recent assessment
on the North-South corridor
showed that there were
260kms of road projects that
were ready for funding. The
estimated cost of this totals
US$ 551 million.
Currently there are no
private investors in the
project. “If you look at
Africa and its rail and road
infrastructure you notice that
rail moves from countries to
ports. The purpose is to export
to other countries outside of
Africa which established this
trend of Africa not trading
with itself,” Lubisi said.
All of this, according to
Nepad, points to Africa being
the next business opportunity.
“Africa is ready for business
and is a ready market for
genuine investors.”