Transport investment sustains regional growth

Investment in transport infrastructure is helping to support economic growth in Sub-Saharan Africa, according to the 2015 World Bank Global Economic Prospects for 2015 report. Sub-Saharan Africa’s growth improved for the second consecutive year to 4.5% in 2014. It states “investment in public infrastructure, increased agriculture production, and buoyant services were key drivers of growth”. The report lists investment in ports, electricity capacity, and transportation as being among the factors supporting growth. “Increased agricultural production also buoyed growth. A record maize harvest in Zambia more than offset the decline in copper production. “A strong increase in cocoa production lifted output in Côte d’Ivoire, despite concerns that the Ebola outbreak might disrupt the industry,” it says. Freight volumes are expected to continue growing. “Despite headwinds,” growth is projected to pick up to 5.1% by 2017, lifted by infrastructure investment, increased agriculture production, and buoyant services. Risks however include the renewed spread of Ebola and volatile global financial conditions.