Browsing: Infrastructural development in Africa

The value of the AI construction market was estimated to be USD 466.9 million in 2019. Projections estimate that by 2025, the market value will skyrocket to US$2312.8 million with a compound annual growth rate (CAGR) of 33.87 per cent between 2020 to 2025.

Despite not gaining early adoption within the construction sector as in other areas, AI is now ideally positioned to lead transformative reforms within the sector.

According to an article by majesteye.com dated February 16, 2022, several studies and reports have shown that the adoption of AI applications within the infrastructure sector is growing at a rapid pace. Some of the major drivers of this growth include the following:…

The Eastern and Southern African Trade and Development Bank (TDB) and the Korean Overseas Infrastructure & Urban Development Corporation (KIND), have signed a memorandum of understanding to cooperate on infrastructure financing in the region.

KIND is a newly established organization by the Korean Government to proactively support global public-private partnerships and infrastructure and urban development for sustainable growth in emerging markets, with the Africa office headquartered in Nairobi.

KIND President and CEO Kyong-goo Hur noted that since the world is facing drastic climate changes and rapid urbanization today, the need for infrastructure investment is emerging greater than ever with the gap between infrastructure demand and supply hardly to be filled in the near future.

“The highest priority, therefore, has been attached to infrastructure investment not only in Korea but also in other numerous countries on this globe,” President Kyong-goo added.

Furthermore, KIND is now ready to serve as a facilitator …