Africa's infrastructure deficit creates economic opportunity

Friday, October 22, 2010

Physical infrastructure remains Africa's most significant constraint as far as economic development goes, however, the backlog also represents big investment and business opportunities, head of research and information at South Africa's Industrial Development Corporation (IDC), Jorge Maia, said on Tuesday.

Speaking at the Gordon Institute of Business Science Business of Africa conference in Johannesburg, Maia said that some $93-billion a year was needed to build infrastructure in sub-Saharan Africa alone.

With the region expected to show economic growth of 5,5% a year over the next five years, the development of infrastructure creates a wealth of opportunity.

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