A senior adviser on regional integration and trade at the United Nations Economic Commission for Africa (ECA), has urged African private sector to invest in transboundary projects. “I am pleased to inform you that we now have the PIDA Model Law – a harmonized Africa-wide legal framework to facilitate private sector investment in transboundary projects on the continent,” said Adeyinka Adeyemi. Mr. Adeyemi assured private sector investors that dependable mechanisms have been established to facilitate and safeguard investment in transboundary projects across Africa. In the same light, the cabinet secretary for Kenya’s ministry of transport, infrastructure, housing and urban development, James Macharia, noted that significant progress has been made but that governments need to take the lead and invest significantly in the project in order to attract the private sector. But for the private sector to come in, they must see what the government has done,” said Mr. Macharia.

Source: News Business Ethiopia November 29, 2018 15:56 UTC