To date, Africa still experiences several challenges that hinder its development. From witnessing severe impacts of climate change, including water scarcity, biodiversity loss, and natural disasters, to poverty, energy and food crisis, strained health care systems, and high rates of unemployment, so many factors continue to affect the quality of life for people in Africa.
While infrastructure development cannot fix all the challenges in Africa, it can be beneficial in most sectors and help improve the quality of life for citizens. The benefits of infrastructure development in Africa can:
- Help strengthen and grow the economy.
- Offer job opportunities.
- Assist the health care system.
- Potentially find ways to ensure sustainable development that can help protect our natural resources while also helping slow down the process of climate change.
However, as much as infrastructure development can assist the continent, it still faces challenges that hinder any development. This article will discuss infrastructure challenges in Africa and our role as DBSA to help alleviate or potentially solve those challenges.
Adequate infrastructure funding
Africa has the potential to grow its economy and trade efficiently with other countries. Africa is a vibrant continent with many resources that other countries need. However, the primary reason for a stunt in any development is the lack of financial resources to help achieve these developments within the country. Sustainable infrastructure development requires adequate infrastructure funding. With adequate financial resources, current infrastructure can be built and maintained, while new infrastructure projects can start. Our role as the DBSA is to mobilise infrastructure development that can potentially bring transformation across Africa. This is why we need and work with various stakeholders to assist with funding that can build a better future for Africa.
Fund management
Receiving funding from investors and the private sector is only one step forward in ensuring infrastructure development. The next step is to ensure that the funding received is used effectively to reach the infrastructure goals that can help Africa. Africa still has a long way to go, and each sector has its issues that need to be addressed. Without an actionable strategy in place, there won’t be effective and efficient asset management, which will only hinder any development within the continent. This is why we firmly believe that funding management is key to ensuring widespread development in Africa. We have various funding facilities put in place to ensure asset allocation is effective. We will also manage third-party funds and develop effective strategies that will align with the infrastructure needs.
Sustainable development
Sustainable development is fundamental for Africa. It assists by saving money while ensuring citizens’ needs are met, and natural resources are conserved so that future generations can also utilise those resources. Sustainability and infrastructure go hand in hand as it also ensures Africa moves into more future-based thinking when it comes to development. Any infrastructure developments that are made now impact peoples’ lives in this current climate and the future. While we cannot reverse climate change, we can find ways that help the environment and slow down the impact while also helping grow the economy and improve human living conditions. At DBSA, we believe in sustainable development as it ensures we can offer solutions that focus on infrastructure gaps and fight the impacts of climate change, protecting infrastructure and addressing social challenges that can potentially impact the future of human health and well-being. Our role as the DBSA regarding sustainable development is to assist in creating an inclusive and low carbon economy with environmentally friendly infrastructure solutions.
Final thoughts
While Africa may have its challenges, we believe that there are measures that African states can undertake to accelerate development in Africa. With adequate funding, funding management and moving toward greener infrastructure, widespread development is possible. And with these developments comes a range of benefits that assist with economic growth and help bring more opportunities to citizens, alleviate poverty, and ensure that people within the continent have a rich and fulfilling quality of life.