South Africa, as chair of the African Union (AU), will champion infrastructure development as the key to unlocking economic development and industrialization on the continent. In a bid to drive infrastructure development, President Ramaphosa, as AU chair, says South Africa will play an active role in driving the Presidential Infrastructure Championing Initiative (PICI). The African Development Bank estimates that Africa's infrastructure needs some USD 130 billion to USD 170 billion a year. According to the African Development Bank (AfDB), the financing gap is between USD 68 billion and USD 108 billion. Infrastructure development in the continent will also provide fertile ground for the African Continental Free Trade Agreement.

Source: The North Africa Journal February 10, 2020 09:56 UTC