African Infrastructure Developers Propose Solutions for Tapping Billions in Investor Interest
Cape Town, June 2, 2015—High quality infrastructure project development with the support of an improving enabling environment in Africa holds the potential to unlock billions in new private investment.
Africa’s high growth and huge development potential hinge on building and expanding modern infrastructure, and private investors are more willing than ever to fund strong projects on the Continent under the right conditions, according to experts who gathered in Cape Town today at the first Africa Investor CEO Infrastructure Developers’ Summit
While only about half of the more than $90 billion in regional infrastructure needs are being financed from any source today, regional and global financiers face a scarcity of projects capable of being funded. IFC, a member of the World Bank Group, through IFC InfraVentures was the lead sponsor of the event, aimed at spurring action to increase the pipeline of financially viable projects being developed conditions that support them.
“There is no question that Africa is rising,” said Jean Philippe Prosper, IFC Vice President for Global Client Services, in opening keynote remarks. “However, Africa still faces many challenges—the biggest of which is infrastructure. Infrastructure project development takes time and risk, and investors will only commit the effort if the conditions are right. We want to encourage policymakers to build more capacity to improve regulation and institutions, and public-private partnerships that balance interests through appropriate risk sharing mechanisms.”
Infrastructure investment continues to be the single most catalyzing opportunity to boost industrial development and job creation in Africa, said Hubert Danso, CEO of Africa Investor. “There is dearth of engagement of development partners with project developers working on the continent, and so today we brought many of them together to encourage ideas on how to increase the pipeline of future projects that can lead African growth into the future.
IFC, a member of the World Bank Group, is the largest global development institution focused exclusively on the private sector. Working with private enterprises in more than 100 countries, we use our capital, expertise, and influence to help eliminate extreme poverty and promote shared prosperity. In FY13, our investments climbed to an all-time high of nearly $25 billion, leveraging the power of the private sector to create jobs and tackle the world’s most pressing development challenges. For more information, visit www.ifc.org
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Africa investor is a specialist investment and communications firm advising governments, international organisations and businesses on communication strategies for capital market and foreign direct investments in Africa. Africa investor publishes Africa investor, the leading international newsstand magazine for Africa’s investment decision makers; maintains the Africa investor 40 Investors’ Index, hosts the Ai CEO Institutional Summit & Awards and the Ai CEO Infrastructure Investment Summit & Awards, among other events. For more information, visit www.africainvestor.com
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