Bric helps address Africa’s infrastructure challenges

The Bric trade bloc (Brazil, Russia, India, China) is leading the charge in offering pragmatic solutions to Africa’s abiding infrastructure challenges. That’s the view of Stanbic and Standard Bank economics duo, Simon Freemantle and Jeremy Stevens. “Africa will never genuinely connect to the world without meaningful upgrades in its infrastructure stock,” the pair said in their latest update. “The deficit is enormous (even relative to low-income countries), and growth-penalising.” And, given the depth and importance of this pursuit, the two stressed that fresh avenues of finance, expertise and cooperation were critical. “Increasingly,” they added, “the Bric economies, particularly China, are offering vital impetus to the negotiation of Africa’s infrastructure dilemma.” They also see the Chinese involvement as a two-way benefit. For China, investing in African infrastructure unlocks natural resources and provides a pressurevalve for excess Chinese capacity. Throughout Africa, Chinese companies are capitalising on a proven ability to provide costeffective infrastructure solutions. “Meanwhile,” the Freemantle/ Stevens report said, “national, largely private sector, champions from India and Brazil are gaining elevated traction, bolstered by wider diplomatic African engagement strategies and inspired by deepening commercial linkages.” There is no disputing the need for upgrading Africa’s infrastructure stock. It’s important to analyse how integrated the Brics are in supporting this crucial process and to offer insights into which Bric institutions are currently leading (and likely to lead) the charge, they added.