Report Highlights Africa's Infrastructure Deficit and Opportunities for Growth

A new study by the Africa Finance Corporation (AFC) emphasizes urgent need for investment in Africa's infrastructure to leverage renewable energy potential and modernize outdated systems. Published on May 17, 2024, the report addresses gaps in power, transport, logistics, and communication sectors within Africa, demanding a reassessment of traditional economic models.

Describing Africa's reliance on archaic pit-to-port models as an economic constraint, the AFC's annual report on the state of the continent's infrastructure urges a shift towards more innovative and efficient systems that align with global economic and green energy trends. It underscores the continent's opportunity to enhance industrial and economic growth through improved energy access, supply chain upgrades, and infrastructural development.

The report further discusses the disparity in energy access across Africa, identifying it as a primary barrier to industrial development. Examples from Guinea demonstrate the economic losses due to inadequate energy infrastructure compared to countries like Australia, which benefit significantly from advanced energy systems supportive of heavy industries.

AFC President Samaila Zubairu calls the findings a wake-up call for action, advocating for collaborative investments that enhance energy systems, develop robust transport and processing infrastructure, and ultimately transform the continent's economic landscape.