{"id":26254,"date":"2020-11-11T12:35:41","date_gmt":"2020-11-11T11:35:41","guid":{"rendered":"http:\/\/thefreezonechannel.com\/?p=26254"},"modified":"2020-11-11T12:35:41","modified_gmt":"2020-11-11T11:35:41","slug":"experts-call-for-enhanced-ppps-on-africas-infrastructure-gap","status":"publish","type":"post","link":"https:\/\/thefreezonechannel.com\/old\/experts-call-for-enhanced-ppps-on-africas-infrastructure-gap\/","title":{"rendered":"Experts call for enhanced PPPs on Africa\u2019s infrastructure gap"},"content":{"rendered":"\n<p><strong>By Tanko Mohammed&nbsp;<\/strong><\/p>\n\n\n<p>Experts have called for stronger public-private partnerships (PPPs) to close Africa\u2019s infrastructure gap and speed up intra-continental and world trade.&nbsp;<\/p>\n\n\n<p>The experts made the call at the IMC Indo-Africa Summit, which took place virtually from Nov. 4 to Nov. 6, according to a statement from the African Development Bank (AfDB) on Tuesday.&nbsp;<\/p>\n\n\n<p>The three-day event drew lessons from India\u2019s public-private partnership experience which some of the panelists described as a good model for Africa.&nbsp;<\/p>\n\n\n<p>Sanjeev Gupta, Africa Finance Corporation\u2019s Executive Director for Financial Services, said there was the need to develop bankable projects to attract the private sector.&nbsp;<\/p>\n\n\n<p>\u201cAfrican governments cannot be expected and are indeed in no position to take early-stage project risks, although they should be.&nbsp;<\/p>\n\n\n<p>\u201cThis risk arguably resides better with the private sector to better realise commercial aspirations,\u201d Gupta said.&nbsp;<\/p>\n\n\n<p>Also, Solomon Quaynor, AfDB\u2019s Vice President for Private Sector, Infrastructure and Industrialisation, said the bank had created Africa50 as a key leader for private sector-led project preparation in Africa.&nbsp;<\/p>\n\n\n<p>\u201cIn partnership with Africa50, we continue to innovate, including on infrastructure asset recycling opportunities in order to attract later-stage private infrastructure investors into brownfield projects.\u201d&nbsp;<\/p>\n\n\n<p>Quaynor added that the partnership would thereby release capital for governments to invest in new infrastructure PPPs in their infrastructure development plans.&nbsp;<\/p>\n\n\n<p>He also said COVID-19 recovery plans should incorporate the opportunities presented by the African Continental Free Trade Area.&nbsp;<\/p>\n\n\n<p>Speaking earlier, Dinesh Joshi, Chairman of the India-based IMC Chamber of Commerce and Industry, observed that India had shown the world how a successful PPP could be carried out in various sectors.&nbsp;<\/p>\n\n\n<p>\u201cIndia has paved the path for success,\u201d Joshi said.&nbsp;<\/p>\n\n\n<p>Furthermore, Shailesh, Chief Executive Officer, Pathak Larsen &amp; Toubro Infrastructure Development, also proposed the model for Africa.&nbsp;<\/p>\n\n\n<p>He told the panel that India had made strong progress with digital infrastructure and narrowing the digital divide.&nbsp;<\/p>\n\n\n<p>Nonetheless, Darshan Hiranandani , moderator of the panel and Chief Executive Officer of H-Energy Global Limited, expressed optimism in the growth leadership of India and Africa in the coming years.&nbsp;<\/p>\n\n\n<p>Hiranandani added that \u201cthere has never been a better time.\u201d&nbsp;<\/p>\n\n\n<p>The panelists identified the demand for power, road and rail transport (in the African economy) while they noted that information and communications technology was on a better footing.&nbsp;<\/p>\n\n\n<p>\u201cFor the Indian economy, the infrastructure sector is also a key driver, responsible for propelling the country\u2019s overall development \u2013 including power, bridges, dams, roads, and urban infrastructure development,\u201d the statement noted.&nbsp;<\/p>\n\n\n<p>The Indo-Africa Summit 2020 was organised by ABN, Owners of CNBC Africa, and the IMC Chamber of Commerce and Industry and explored bilateral economic and business opportunities between sub-Saharan Africa and India. &nbsp;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>By Tanko Mohammed&nbsp; Experts have called for stronger public-private partnerships (PPPs) to close Africa\u2019s infrastructure gap and speed up intra-continental and world trade.&nbsp; The experts made the call at the IMC Indo-Africa Summit, which took place virtually from Nov. 4 to Nov. 6, according to a statement from the African Development Bank (AfDB) on Tuesday.&nbsp; [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":26255,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[146],"class_list":["post-26254","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-uncategorized","tag-afdb","has-post-title","has-post-date","has-post-category","has-post-tag","has-post-comment","has-post-author",""],"yoast_head":"<!-- This site is optimized with the 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