Africa50 CEO says Africa needs more PPPs to close infrastructure gap

The Chief Executive Officer of Africa50, Alain Ebobissé, emphasized the importance of public-private partnerships (PPPs) in closing Africa's infrastructure gap at this year's Africa Investment Forum in Abidjan. Ebobissé highlighted the limited resources of governments and the need for increased private sector involvement in funding and developing crucial projects. The growing trend of private investment partners reflects a recognition that governments alone cannot address all the infrastructure challenges on the continent. Ebobissé acknowledged the increased momentum in PPPs and private investments in Africa, attributing it to both catch-up from past projects and a shift in governments' mindset. African governments are realizing they cannot tackle the infrastructure gap alone and are seeking significant private investments to bridge the funding deficit. Ebobissé emphasized the importance of African-led initiatives like the African Continental Free Trade Area in driving regional infrastructure development and facilitating trade across the continent. One of the key projects Africa50 is spearheading is the development of the two Congo bridge projects linking Kinshasa in the Democratic Republic of Congo to Brazzaville in the Republic of Congo. This infrastructure link will enhance trade connectivity and economic growth within the region. Additionally, Africa50 is supporting the Desert to Power project led by the African Development Bank, aiming to generate 10,000 megawatts of electricity to address the continent's power challenges. Despite the progress made, Ebobissé acknowledged that more African resources are needed to effectively tackle the infrastructure challenges. He highlighted initiatives like the partnership between Africa50, the African Development Bank, and African Sovereign Wealth Funds to mobilize domestic and regional resources for green infrastructure projects. Leveraging African pension funds and institutional investors could significantly impact funding for infrastructure development on the continent. Looking ahead, Ebobissé discussed the role of Africa50 in the energy transition and emerging industries on the continent. African countries are committed to meeting climate targets and moving towards net zero emissions. Africa50 is investing in renewable energy projects and is set to announce a major climate initiative at COP27 to support African countries in their transition to cleaner energy sources. In conclusion, Ebobissé emphasized the importance of leveraging PPPs, private investment, and African resources to unlock Africa's infrastructure potential. With strategic partnerships and initiatives in place, Africa is poised to address its infrastructure challenges and drive sustainable development across the continent.