Browsing: Infrastructure spending

A transport viaduct. Africa has ambitious plans to connect countries through various road and railway infrastructure.

A Primer

McKinsey & Company, the global business consulting giant conducted a study on the slow pace of infrastructure development and financing in Africa and found overwhelmingly that: “More than anywhere else on Earth, Africa has huge unmet needs for infrastructure, reflecting a long history of underinvestment. Today the continent has the opportunity to build the infrastructure its people and businesses need—at speed and scale. The funding is available, together with a large pipeline of potential projects. To ensure that the money is spent where it is needed, and delivers high-quality infrastructure on time and on budget, governments and private sector players need to step up to prepare, plan, and manage projects with a new level of rigour and robustness.”

One of the findings from their research is that despite the pertinent need to develop infrastructure to be competitive globally African countries lag behind their worldwide counterparts when it comes…