This page is dedicated to provide some background information and statistics, even though statistics alone do not paint the whole picture, but it will give you a better understanding and relevance of the business opportunities on the African continent.
Africa launches an ambitious programme for infrastructure development
The PIDA: a key for development in Africa: President Jacob Zuma was unanimously elected for the PIDA’s president because of the successful organization of the World Cup, which inspired the whole continent. Speaking at the launch of the programme, Mr. Zuma said that “Africa’s time has come and without infrastructure, our dreams will never be realized. We cannot trade on the continent because of the lack of communication. The infrastructure that we want to create will provide new opportunities for our continent “.
The South African president also thanked the ADB for agreeing to invest heavily in infrastructure development. “This is a wise decision of the bank. Africa is experiencing economic growth and it has a unique potential in the world. Africa is perceived by the rest of the world through the state of its infrastructure. These are a starting point, ” he added.
Energy, transport, ICT and water resources: key areas for African economy: Programme for infrastructure development in Africa will bring together and merge various continental infrastructure initiatives such as the NEPAD Short Term Action Plan, the NEAD Medium to Long Term Strategic Framework (MLTSF), and the AU Infrastructure Master Plans initiatives into one coherent program for the entire continent. The objective of the PIDA is to establish a framework strategy for infrastructure development at the regional and continental level covering all the four key sectors of Transport, Energy, Trans-boundary Water, and ICT. PIDA will be the AU/NEPAD key planning/programming document guiding the continental infrastructure development agenda, policies, and investments priorities in the key sectors for 2011 – 2030. The ADB will be responsible for implementing the Programme for Infrastructure Development in Africa (PIDA) through its department of regional integration. The Bank’s role as Executing Agency covers the responsibility for contractual, financial, technical and administrative management of the programme including responsibility for procurement procedures, in conformity with its existing regulations, budget management and disbursements. The PIDA is supposed to be managed by the regional economic communities. They will work closely with the respective Member States, specialized agencies of the AU and sectoral organizations. The PIDA budget, estimated at 7.8 million Euros, is financed by the European Union, Islamic Development Bank, the African Fund for Water and the New Partnership for Africa’s Development.
Another interesting read:
Knight Frank’s Africa Report provides an overview of the continent’s diverse property markets. Commentary is provided for 34 countries across Africa, along with guides to prime rents and yields in the office, retail, industrial and residential sectors.