Africa could double its GDP by 2040 by raising annual infrastructure investment to USD 155 billion, or 5.6% of its GDP. This could accelerate annual real GDP growth by 4.5 percentage points, making this an opportunity to boost global development.
To achieve that potential, private sector infrastructure financing must increase. Bilateral and multilateral development partners currently fund 48% of Africa’s infrastructure investment, while private capital contributes just 11%. Governments make up 41% of Africa’s infrastructure spending, but fiscal constraints and debt are straining public budgets. From 2019 to 2023, governments spent an average of seven times more servicing debt than on infrastructure; 15 countries spent more on debt interest than infrastructure. Yet, African governments are set to remain the driving force for bridging the continent’s infrastructure investment gap, as the outlook for other financing sources remains uncertain.
The 24th International Economic Forum on Africa will convene public-sector decision makers, private investors, and philanthropic actors to examine how infrastructure investment can drive inclusive economic transformation on the continent. Panels will address two critical challenges: mobilising finance, and developing local capacities and skills.
The Forum will spotlight the solutions and strategies that can help ensure Africa’s infrastructure agenda generates inclusive growth, jobs, and sustainable development.
Jointly organised by the OECD Development Centre and the African Union Commission, the Forum is an opportunity to engage with Africa’s leaders, partners and key stakeholders on the continent’s future.
