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[FILE IMAGE]: Construction on Durban roads.
Africa’s financial institutions have committed to generate billions of US dollars needed to finance the continent’s infrastructure development. This pledge was made at the Luanda Summit on Financing Infrastructure Development in Africa.
Different sectors on the continent met to discuss the possibility of financing big projects in Africa.
The summit has created almost 44 billion US dollars in investment opportunities – which will position the continent to be able to finance its initiatives.
The message was clear, the continent needs to create a market space which will allow trade and investment possible.
A three-day summit in Luanda has urged African Union member states to increase intra-trade in an effort to generate adequate capital to address the infrastructure challenges on the continent.
AU Development Agency, Nepad CEO, Nardos Bekele-Thomas, says the continent is capable of generating the much needed funds.
AU Commissioner for Infrastructure and Energy, Lerato Mataboge, says the summit has taken a resolution to formulate new policies which will enable intra-trade and investment among member states.
Meanwhile, South Africa’s G20 Presidency has been one of the drivers to champion Africa’s agenda.
Minister in the Presidency responsible for Planning, Monitoring, and Evaluation, Maropene Ramokgopa says Pretoria’s G20 Presidency has been vocal in advancing Africa’s Priorities.
AUDA-NEPAD head of Infrastracture and Transport Unit, Ibrah Wabahou, has commended South Africa for its leadership role through G20 Presidency.
The three-day summit concluded with agreements signed and expected to be implemented to address the Africa’s challenges with the focus on infrastructure.
