This investment, used as a facilitator of local production, can also help develop regional value chains and access upstream global value chains
Lost your password? Please enter your username or email address. You will receive a link to create a new password via email.Transnet has faced operational problems, mainly in the critical rail and port businesses, resulting from underinvestment in infrastructure and equipment. Photo: n 12 July, the African Development Bank’s board of directors approved an R18.85 billion loan to Transnet, one of the most significant parastatals in South Africa.
The AfDB has ramped up the effort in this respect. For instance, in January this year, the AfDB, in collaboration with the European Commission formalised a new Financial Framework Partnership Agreement to accelerate funding for infrastructure projects in Africa. This is clearly demonstrated in the bank’s 10-year strategy , with the plan to create more resilient economies in Africa in the face of global financial and other shocks.
The 15 flagship projects of the African Union, of which the AfCFTA is a major project, require massive investment. This effort seeks to exploit the advantages of the trillion-dollar African economy and expand it. Among the crucial elements for the success of this free trade area and integration is an advanced, modern and technologically hefty logistics system and infrastructure for the movement of both goods and people.
But careful attention must also be paid to the effort to replace an extractive economic model of the colonial era with one focused on the local production of finished value-added goods for export.
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