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STUDY INFRASTRUCTURES * AFRICA - transformation will require adicitionnal $ 31 billion yearly
Midrand,South Africa -Modern Ghana -November 11, 2009: -- A study recently conducted in 24 African countries shows that the poor state of infrastructure in Sub Saharan Africa – its electricity, water, roads, and information and communications technology (ICT) – cuts national economic growth by 2 percentage points every year and reduces business productivity by as much as 40 percent... “Africa's Infrastructure: A Time for Transformation” finds that Africa has the weakest infrastructure in the world, but ironically Africans in some countries pay twice as much for basic services as people elsewhere. This study argues that well functioning infrastructure is essential to Africa's economic performance and that improving inefficiencies and reducing waste could result in major improvements in African's lives... The report estimates that US$93 billion are needed annually over the next decade, more than twice what was previously thought. Almost half of this amount is needed to address the continent's current power supply crisis that is hindering Africa's growth. The new estimate amounts to roughly 15 percent of the continent's gross domestic product (GDP), comparable to what China invested in infrastructure over the last decade... The study found that existing spending on African infrastructure is much higher than previously known, $45 billion a year. Also surprising was the fact that most of this is domestically financed by African tax payers and consumers. The study also found that there is also considerable wastage to address; a number of efficiency improvements could potentially expand the available resources by a further $17 billion... (Photo Credit by Arne Hoel, World Bank)Labels: infrastructures
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