Africa's infrastructure needs investment

Africa's infrastructure needs US$ 20 billion a year in order to "invest adequately in infrastructure", according to the African Union (AU) commissioner for economic affairs Maxwell M. Mkwezalamba.

Speaking on the sidelines of the Fourth Conference for African Integration Ministers (COMAI - IV) in Yaounde, Cameroon, Mr Mkwezalamba, told press agencies the AU was in talks with donors, including the World Bank, the African Development Bank (AfDB) and the European Union (EU), to secure some of the funding required to meet that goal.

"Finance is a big issue," said Mr Mkwezalamba. "Our infrastructure requirements now would be something between US$ 15 and US$ 20 billion a year."

"We've been discussing (this issue) with a number of partners, including the EU, where the whole arrangement is within the EU-Africa strategy and its action. We are also talking with the World Bank, which is interested in financing a number of our infrastructure projects in the continent. The African Development Bank has a window for infrastructure development and they are ready to support us."

However, Mr Mkwezalamba added that AU states needed to speed up economic integration to deal with challenges posed by the global economic crisis and "mitigate future external shocks."

Integration, said Mr Mkwezalamba, would enable "enhanced and accelerated economic growth", alongside sustainable development and poverty reduction. Other benefits, he added, could include the "peace, security and stability of our people".

The COMAI - IV conference brought together government ministers from the 53-member AU with the aim producing a "minimum program of integration," as well as "adopt areas to accelerate the integration process," according to Cameroon's Minister of Economy, Planning and Regional Development, Louis Paul Motaze, who chaired the meeting.