AfDB urges consistency in policies to leverage private sector support
The African Development Bank (AfDB) has emphasized the need for African governments to ensure consistency in policies and reforms amidst transitions in government, in order to attract private sector investment in bridging Africa’s huge infrastructure gap.
“One thing that makes it more difficult for people to invest is the change of policies whenever a regime changes,” Solomon Asamoah, Vice President for Infrastructure, Private Sector and Regional Integration at the Bank, was quoted as saying in a statement issued by the AfDB at the end of the first ever Programme for Infrastructure Development (PIDA) Week.
“You need to be sure that circumstances in your country remain consistent. Governments must do their part in ensuring that policies are followed through at all levels when dealing with private sector and potential partners.”
According to the Bank the private sector is a key partner in tackling the continent’s massive infrastructure deficit of $95 billion per annum.
“Every deficit is an opportunity. We would like to see African businesses being part of the solutions to fix infrastructure,” Mr Asamoah said at the PIDA Week in Abidjan, Côte d’Ivoire.
The Bank said participants at the meeting agreed on high quality and standards, making the recommendation that the African Union Commission (AUC) collaborates with Regional Economic Communities to harmonize standards in road and other infrastructure projects.
According to Aboubakari Baba-Moussa, the AUC’s Director of Infrastructure and Energy, standardization of documents has been adopted already.
Alex Rugamba, AfDB’s Director for Energy, Environment and Climate Change, was also reported to have emphasised the need for all projects to connect to rural areas and promote inclusive growth. “Roads should connect to feeder roads in rural areas, the same as the interconnection of rural power projects. Development must be inclusive,” he was quoted as saying.
A delegation of the German Federal Ministry for Economic Cooperation and Development, present at FIDA Week, expressed its interest in sharing best practices in renewable energy that will help boost Africa’s efforts to improve electricity access.
By Emmanuel Odonkor