Contemporary Issues in African Trade & Trade Finance (CIAT) Vol 9

Significant financing deficits and inadequate infrastructure are constraining Africa’s economic growth and development. The African Development Bank estimates that Africa requires between US$140 billion and US$170 billion annually to meet its infrastructure funding needs. The financing gap ranges from US$68 billion to US$108 billion. By 2030, the annual financing gap is projected to reach approximately US$402 billion, representing about 12 percent of the continent’s projected GDP. Therefore, considerable resources are needed to close the financing gap for infrastructure development and the structural transformation of African economies.