The Apapa-Oshodi road will last for 40 years when completed. (Image source: Dangote Group)
Dangote Industries Limited’s group president Aliko Dangote took the minister of works and housing, Babatunde Fashola on an inspection tour of the 35-km Apapa-Oshodi-Oworonsoki-Ojota highway that is under construction by the company
The Wärtsilä Modular Block is a pre-fabricated, modularly configurated, and expandable enclosure for sustainable power generation. (Image source: Wärtsilä)
Wärtsilä has announced the first order of its innovative new Wärtsilä Modular Block solution for power generation to Aggreko, a global provider of mobile, modular power, temperature control and energy services
This first phase involves the construction of 175km of road sections. (Image source: kolibri5/Pixabay)
Over three million people in Tanzania and Kenya will benefit from a US$384.22mn financing package for road construction support, approved by the African Development Bank’s (AfDB) board in Abidjan
Lucara Diamond Corporation owns the Karowe diamond mine in Botswana. (Image source: Lucara Diamond Corporation)
TOMRA’s technology has unlocked the huge potential of the Karowe diamond mine in Botswana
Financing surpasses US$100bn. (Image credit: AfDB)
The Infrastructure Consortium for Africa (ICA) announced a 24 per cent leap in infrastructure financing in Africa in 2018, surpassing US$100bn but gaps remain
Launched on 12 November at the Africa Investment Forum, the ICA’s Infrastructure Financing Trends in Africa 2018 report shows that financing of infrastructure in Africa reached a new high of US$100.8bn in 2018, a jump of about a quarter on 2017 and 38 per cent up on the 2015-2017 average.
Mike Salawou, ICA Coordinator, and manager of Infrastructure Partnerships, at the African Development Bank, said, “Over the years the Infrastructure Financing Trends in Africa report has become an important document for presenting, in a consistent manner, how funding is being mobilised to develop the continent’s infrastructure.
“The report’s publication during the Africa Investment Forum is extremely timely. While the increase in financial commitments in 2018 is very welcome, the report also serves to highlight the size of Africa’s infrastructure financing gap – one of the key issues addressed during the forum,” Salawou said.
This years’ report shows the role ICA continues to play in institutional and policy reform as well as its consistent financial contribution within the infrastructure space. This, along with a 65 per cent and 33 per cent increase in commitments over the previous three-year average by China and African Governments respectively, and the role of other multilateral organisations resulted in the 24 per cent increase recorded in infrastructure financing for 2018.
Among the key findings of the report was an increase in financing commitments across all sectors, with a notable increase in the energy sector, which attracted financing commitments worth US$43.8bn, an all-time high and a 67 per cent increase on the 2015-2017 average. The ICT sector also saw record commitments in 2018 of US$7.1bn, mostly from the private sector.
Even with the significant increase in commitments in 2018, there remains a total financing gap of US$52bn to US$92bn per year. Yearly estimates of Africa’s financing requirements range from US$130bn to US$170bn. Water and sanitation has the largest financing gap of all the sectors, based on annual financing needs of US$56-US$66bn and a 2016-2018 average commitment of US$13bn.
Panellists Dr. T. Nyirenda-Jere, Dr. B. Ben Yaghlane, Dr. I. Urua, Mr. C. Kirigua and Mr. P. Guislain, addressed key messages highlighted in this year’s report, which includes, the need to increase both public and private sector financing, strengthen governance and improve the quality of infrastructure services.
The Africa Investment Forum took place from 11 to 13 November in Johannesburg, South Africa, and offered a platform for sourcing funding for bankable African projects, brokering infrastructure deals and providing innovative financial solutions.
The event attracted key global companies, financial players, and public officials who addressed the continent’s critical infrastructure investment gaps.
The Bell team in Richards Bay consists of more than 800 machinists, welders, and assemblers. (Image source: Bell)
GFE Power Product’s extensive range covers generators from 10 kVA up to 3,000 kVA. (Image source: GFE Power Products)
The funding is the largest-ever equity raise in the minigrid industry according to Husk. (Image source: Adobe Stock)
The initiative will help African contractors participate in annual infrastructure investments. (Image source: Afreximbank)
ITS has evolved into a sophisticated systems approach, providing numerous opportunities to revolutionise road networks. (Image source: Adobe Stock)
Invest International’s Lara Muller; Ivory Coast Minister of Finance and Economy, Adam Coulibaly; and Ambassador Designate to Ivory Coast, Jeroen Kelderhuis. (Image source: Invest International)
The Yellow Metal Machine Rental team with some Wacker Neuson equipment. (Image source: Wacker Neuson)
Although displaying resilience, the report warns that African banks remain exposed to physical climate risks due to both sovereign and industry lending. (Image source: Adobe Stock)
WAA and VCMI will seek to establish regulatory frameworks to enable access to high integrity and fair voluntary carbon markets for WAA member countries. (Image source: Adobe Stock)
The parties will also promote the mutual exchange of information and expertise in the field of export credit policies and practices. (Image source: TBD Group)
Inside Condra’s Johannesburg factory: an overhead crane positions an electric motor during assembly of hoist and crab. (Image source: Condra)
IVECO is renewing its entire product range, all at once. (Image source: IVECO)
The MoU was signed alongside the Africa Health Business Symposium. (Image source: Africa CDC)
Both the IMF and EIU expect SSA to rank as the world’s second fastest growing economy in 2024. (Image source: Adobe Stock)
There has been a focus on the sugar industry. (Image source: Adobe Stock)
Evolving concept of energy security must address energy demand, system flexibility, technology access and infrastructure development, says IRENA. (Image source: IRENA)
World Bank & African Development Bank partner to provide electricity access to 300 million Africans by 2030, leveraging public-private investments. (Image source: Adobe Stock)
(L-R): Dr Diane Karusisi, CEO, Bank of Kigali and Dr Reda Helal, group managing director – processing, Africa and co-head group processing, Network International. (Image source: Network International)
At WFES, Gotion High-tech will showcase its latest products and leading green energy solutions at its booth. (Image source: Gotion High-tech)
The new Perkins 5012 is a full-authority electronic engine optimised and purpose-built for power generation applications. (Image source: Perkins)
SSAB will begin deliveries of the new products in 2026.
The key issues restricting sub-Saharan Africa’s manufacturing sector will be unpacked at Manufacturing Indaba later this year. (Image source: Adobe Stock)
Through the innovative solution, each vessel can fill two tank containers on average between two ports. (Image source: Maersk)
Hyphen is developing sub-Saharan Africa’s largest, most advanced and only fully-vertical integrated green hydrogen project. (Image source: Hyphen)
According to Liebherr, the Used Equipment Marketplace is extremely user-friendly. (Image source: Liebherr)
Electricity storage will be pivotal in unlocking renewable projects and meeting energy demand. (Image source: Adobe Stock)
With RFID, assets can be given unique digital identities that enable users to identify and locate them all at once, from a distance, in real time. (Image source: Brady)
Africa Data Centres and DPA SA have broken ground on their solar farm in the Free State. (Image source: Africa Data Centres)
A Cat PM310 Cold Planer in action. (Image source: Caterpillar)
A larger stockholding of WEG products facilitates ready access for customers. (Image source: WEG Africa)
