The African Development Bank (AFDB) says estimated financing requirement to close Africa's infrastructure deficits amounts to US$93billion annually until 2020. This strategic shift has come about on the realisation that scaling-up financing from traditional sources alone will not be adequate to close the infrastructure gap. It is therefore crucial to open opportunities that attract new investors as well as explore new mechanisms for financing infrastructure in Africa. In this regard, China has been a willing-partner - much to the chagrin of the West; but African countries are craving to bridge this infrastructure gap and will exploit any opportunity offered them to bridge, if not close, this infrastructure gap. Obviously, these come with their own challenges; but we believe this is precisely what President Akufo-Addo wanted to convey at the UK-Africa summit held in London recently.

Source: GhanaWeb January 22, 2020 13:07 UTC