Page 22 - Logistics Update Africa March - April 2024 issue for Website

INDUSTRY REPORT

The Arteries of Trade

HOW INFRASTRUCTURE

IS FUELING AFRICA'S

LOGISTICS BOOM

Formerly recognised predominantly for its expansive landscapes Africa’s infrastructure is still a big
and abundant resources, the continent is now emerging as an challenge faced by many countries on the
economic powerhouse. A growing middle-class fuels demand continent. To bridge the infrastructure
gap, public-private partnerships are
and e-commerce is booming. However, substantial infrastructure essential for infrastructure development
limitations hinder progress, reports Nehal Gautam. in Africa. AfDB estimates that between
$130 and $170 billion is needed for
frica's story is being rewritten. rising disposable income. This economic infrastructure development every year,
Once known primarily for its empowerment is driving demand for leaving a substantial financing gap of
vast landscapes and resource diverse goods and services, propelling the $68 to $108 billion,” Dr Robert Lisinge,
Awealth, the continent is growth of a dynamic manufacturing sector. Acting Director of the Private Sector
emerging as a powerhouse of industry and However, challenges persist. A Development and Finance Division at the
economic dynamism. This transformation substantial infrastructure gap hinders UN Economic Commission for Africa
is fueled by a burgeoning middle class with Africa's full potential. “Financing (ECA) said during African Economic

20 LUA MARCH - APRIL 2024