African private sector poured $45.36bn in infrastructure development across Africa in 2016
In 2016, African private companies were the second largest source of financing for infrastructure construction. This was revealed by a report recently published by audit firm Deloitte.
The firms according to Deloitte provided 14% of funds needed for the projects, behind African governments that provided 28.3% of the resources.
Despite all their good faith, international finance institutions provided only 13% of funds injected into infrastructure development. After these is China which is the first non-African nation to finance infrastructure development in Africa. The first European country in that regard is the United Kingdom (2.8%), followed by France (2.4%).
For the study, Deloitte based itself on projects that cost more than $50 million, and which were launched after June 30, 2016. Projects falling in this category were overall 286 last year, down 5% from in 2015. They were valued at $324 billion, thus 14% than the year before.