Top global and African CEOs launch infrastructure business network on side-lines of World Economic Forum in South Africa
Posted in
Habari na Jicho Pevu la Kijiwe
No comments
Tuesday, June 2, 2015
By
danielmjema.blogspot.com
CAPE-TOWN, South-Africa, June 2, 2015/ -- Top
global and African Chief Executive Officers today launched a
Continental Business Network (CBN) to fast-track high-level private
sector investment into Africa’s regional infrastructure.
The
launch of the CBN on the side-lines of the World Economic Forum on
Africa in Cape Town, South Africa, is the mandated follow-up and
implementation of recommendations emanating from the Dakar Financing
Summit (DFS), hosted by Senegal’s President Macky Sall.
CEO of the New Partnership for Africa’s Development (NEPAD) Agency (http://www.nepad.org),
Dr Ibrahim Mayaki, said that the CBN was endorsed by the NEPAD Heads of
State and Government Orientation Committee (HSGOC) in June 2014 and is a
direct response to facilitate private sector advice and leadership in
essential NEPAD and African infrastructure projects. Dr Mayaki urged the
private sector to take ownership of the future of regional
infrastructure development. “We are making a transition from a
public-centred to a combination of public and private sector approach
for the implementation of Africa’s regional infrastructure. This new
culture will be framed through the instruments that CBN will offer,” he
said.
The
DFS identified the lack of capacity and funds in project preparation
combined with a weak involvement of the private sector as the main
issues that constitute the bottlenecks to the implementation of African
regional infrastructure. The CBN is the missing cornerstone to address
these issues, Senegal’s Ambassador accredited to South Africa, Dr Momar
Diop said.
“Africa
will only succeed when all public and private sector stakeholders will
join their efforts”, was also highlighted by Dr Elham Mahmoud Ahmed
Ibrahim, AU Commissioner for Infrastructure and Energy.
This
inaugural CBN event, hosted by the NEPAD Agency was convened and led by
a cross-section of private sector leaders who have provided
recommendations to African Heads of State on approaches and practical
steps to improve Africa’s infrastructure investment climate for
cross-border and other infrastructure investment projects in Africa.
The
CBN is an exclusive Infrastructure Investment Advisory platform for
African Heads of State, providing thought leadership and engagement on a
range of strategic issues like policy, investment risk rating(s),
project structuring and specifically the existing constraints to the
implementation of the Programme for Infrastructure Development in Africa
(PIDA). The Network comprises leading African and global business and
finance bodies as well as regional and international organisations.
To learn more about the CBN, PIDA and NEPAD Agency visit www.nepad.org and the Virtual PIDA Information Centre (VPic) www.au-pida.org
Distributed by APO (African Press Organization) on behalf of the New Partnership for Africa’s Development (NEPAD).
For more information and to arrange interviews, please contact:
Abiola Ajayi
NEPAD Communications
About PIDA
The Programme for Infrastructure Development in Africa (PIDA), sponsored by the African Union Commission (AUC), NEPAD Agency (http://www.nepad.org),
African Development Bank (AfDB), United Nations Economic Commission for
Africa (UNECA) and Regional Economic Communities (RECs), is Africa’s
solution for building mutually beneficial infrastructure and
strengthening intra-Africa trade. The 51 PIDA programmes and projects
are spread across the four sectors of Transport, Energy, Information and
Communication Technology (ICT) and trans-boundary Water. PIDA is
expected to:
• Reduce energy costs and increase access.
Africa will reap savings on electricity production costs of US$30
billion a year, or US$850 billion through 2040. Power access will rise
from 39% in 2009 to nearly 70% in 2040, providing energy access to an
additional 800 million people. PIDA energy projects will provide more
than 61,009 megawatt to Africa.
•Slash transport costs and boost intra-African trade.
Transport efficiency gains are valued at a minimum of US$172 billion in
the African Regional Transport Integration Network (ARTIN), with the
potential for much larger savings as trade corridors open. Steady
advances in regional integration and services will finally create a
shift from overseas trade to trade between countries and within and
across regions, helping fulfil the promise of the 2028 African Common
Market.
• Provide finance for transport. The transport sector will benefit from more than US$22 billion in investment.
• Ensure water and food security.
Africa has the lowest water storage capacity and irrigated agriculture
in the world, and about half the continent faces some sort of water
stress or water scarcity—and demand is going to surge. To deal with the
coming crisis, PIDA projects will enable the water storage
infrastructure needed for food production and trade.
•Increase regional connectivity.
PIDA projects will boost broadband connectivity by 20%. By increasing
broadband penetration by 10%, which can be expected by 2018, GDP will
increase by 1% given the improved connections between goods and markets
as well as between people and jobs.
Habari Zingine
Mjulishe Mwenzako
0 MAOINI :