Economic expansion and social advancement particularly in African countries are predicated on the development of infrastructure. The significance of infrastructure in Africa is paramount, given the region’s prominent characteristics of fast population expansion, urbanization, and economic development. Numerous infrastructure projects may raise living conditions, promote regional integration, and drastically alter African economies.
Infrastructure projects are essential for facilitating trade and commerce. This efficiency boost can lead to increased economic activity, higher productivity, and ultimately, sustained economic growth.
Additionally, these projects create jobs while being executed and once completed often lead to more employment via the utilization or maintenance of said projects.
Well-planned infrastructure development can reduce poverty and inequality by improving access to essential services and opportunities. Because they facilitate the expansion of different industries, diverse infrastructure developments promote economic diversification.
However, these projects are subject to funds from channels that may not be able to funnel the necessary resources for proper development. Enter the private sector, which continues to invest in infrastructure development across the globe.
Unfortunately, not even with the help of the private investment has funds allocated to these projects go beyond expectation.
In 2023 there was a slight decline in the infrastructure investment funds allocated to Africa, save North Africa, according to a report by the World Bank. This fall is specific to private investors’ handling of private infrastructure investments.
The report revealed that “In 2023, SSA saw investments in 66 projects totaling $3.5 billion. This marked a 24 percent decrease from the investment levels of the previous year and a 46 percent decrease from the past five-year average. The largest contributor to the region’s PPI was South Africa, responsible for 30 percent of the regional PPI, followed by Senegal and Tanzania.”
However, there are some African countries with a significant number of infrastructure projects financed by the private sector, and below are the top 10 of them.
10 African countries with the highest number of private infrastructure project in 2023
| Rank | Country | Number of infrastructure projects |
|---|---|---|
|
1. |
South Africa |
11 |
|
2. |
Egypt |
6 |
|
3. |
Senegal |
5 |
|
4. |
Tanzania |
5 |
|
5. |
Democratic Republic of Congo |
4 |
|
6. |
Mozambique |
4 |
|
7. |
Nigeria |
3 |
|
8. |
Rwanda |
3 |
|
9. |
Uganda |
3 |
|
10. |
Tunisia |
2 |