Embrace Private-Public Partnership to bridge infrastructural gap – Dr. Amin Adam

Minister of Finance Dr. Mohammed Amin Adam has charged heads of African states to enter into agreements with private enterprises to bridge the continent’s infrastructural gap.

According to the minister, Africa’s infrastructure deficit impedes economic growth and development hence the need to address it.

Speaking at the launch of the African Prosperity Dialogue (APD) 2025 in Accra, on the theme; “Delivering Africa’s Prosperity through Infrastructure: Invest. Integrate. Connect”,  Dr. Amin Adam noted inadequate networks of road, rail, air and waterways make transport costs in Africa among the highest in the world.

The minister mentioned that “as a Continent, we must recognize that we cannot achieve sustainable prosperity in isolation” adding that an estimated 546 million people are now living in poverty, and 149 million “non-poor” Africans are at risk of falling into it.

Furthermore, Dr. Amin Adam indicated that deficient infrastructure in today’s Africa has been found to sap growth by as much as 2% a year.

“We have a continental problem that requires a continental solution. As such, we must redouble our efforts to invest in critical infrastructure projects, including transportation, energy, and digital connectivity, to unlock Africa’s full potential for trade and investment”, he stressed.

Emphasizing the need to promote intra-African trade through infrastructural development, the finance minister said Ghana remains committed to supporting regional integration efforts and creating an enabling environment for cross-border trade and investment.

“In truth, when we, as Africans, work together with a shared vision, we can overcome logistical barriers and unlock the full potential of regional integration, trade facilitation, and economic development therefore, I call on ECOWAS and the African Union to lead by example and spearhead initiatives to promote cross-border infrastructure investments and connectivity”, he added.

Additionally, Dr. Mohammed Amin Adam mentioned that traditional financing mechanisms may no longer suffice in meeting the growing demands of the continent’s rapidly expanding economies hence various governments and leaders must explore new avenues for mobilising resources, including public-private partnerships (PPPs), green bonds, and leveraging digital technologies to enhance financial inclusion and access to capital.

“PPPs have proven to be effective mechanisms for leveraging private sector expertise. I thus encourage African governments to embrace PPPs as a viable solution to bridge the infrastructure gap and drive economic growth”.

The 2025 African Prosperity Dialogue scheduled for Thursday, January 30 to Saturday, February 1, 2025, would be held at the Accra International Conference Centre (AICC)

It will be dedicated to Africa’s business, political and other institutional leaders who will discuss measures to make the continent a single market project, as a viable pathway for achieving shared, sustainable prosperity across Africa’s 1.4 billion citizens.

The event will be climaxed on the third day with the Africa Prosperity Champions Awards at the Fantasy Dome.