Finance Minister calls for investment in infrastructure to unlock Africa's potential
The Minister of Finance, Dr. Mohammed Amin Adam, emphasized the critical role of infrastructure development in achieving sustainable prosperity across Africa during his keynote address at the launch of the Africa Prosperity Dialogue 2025.
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Themed "Delivering Africa's Prosperity through Infrastructure: Invest. Integrate. Connect.", the dialogue brings together key stakeholders to discuss solutions to socio-economic challenges hindering Africa's growth.
Dr. Adam highlighted the continent's vast infrastructure deficit, stating that inadequate transportation networks significantly inflate transport costs, hindering economic development. He cited the African Development Bank's estimate that closing the gap requires a minimum of $130 billion annually.
The Minister acknowledged the rising debt burden across Africa, urging for concerted efforts to address debt sustainability and promote fiscal discipline.
He mentioned the importance of strengthening African financial and development institutions to mobilize capital more effectively and channel investments towards infrastructure projects.
Dr. Adam stressed the need to boost intra-African trade, which currently lags far behind other regions. He pointed to the African Continental Free Trade Area (AfCFTA) as a critical mechanism to promote regional integration, economic resilience, and inclusive growth. He urged regional bodies like ECOWAS and the African Union to spearhead initiatives facilitating cross-border infrastructure investments and connectivity.
Recognizing the limitations of traditional financing methods, Dr. Adam called for exploring new avenues like public-private partnerships (PPPs) and green bonds. He also highlighted the potential of digital technologies to enhance financial inclusion and access to capital.
Dr. Adam concluded by expressing his gratitude to the Africa Prosperity Network (APN) and participants for their commitment to the continent's prosperity.
He emphasized the collective responsibility of all stakeholders in translating discussions into actionable initiatives for a more prosperous and sustainable future for Africa.
The launch of the Africa Prosperity Dialogue 2025 signifies Africa's renewed focus on infrastructure development, regional integration, and innovative financing as key drivers of continental prosperity.
Africa Prosperity Dialogues (APD 2025) will focus on unearthing innovative ways through which African heads of state, business leaders, and the private sector, can combine forces to bridge the continent’s infrastructure deficit and shore up the levels of intra-Africa trade.
The APD 2025 will be held in Accra, Ghana from Thursday, 30 January to Saturday, 1 February 2025, on the theme; “Delivering Africa's Prosperity Through Infrastructure: Invest, Integrate, Connect,” and it is expected to attract over one thousand participants from across the continent.