By, Nsor Paul Mensah
The 3rd edition of the Africa Prosperity Dialogues (APD) has been officially launched in Accra today 13th may 2024.
The APD 2025 will be held in Accra, Ghana from Thursday, 30 January to Saturday, 1 February 2025, on the theme; “Delivering Africa's Prosperity Through Infrastructure: Invest, Integrate, Connect,” and it is expected to attract over one thousand participants from across the continent.
The Africa Prosperity Dialogue , will focus on unearthing innovative ways through which African heads of state, business leaders, and the private sector, can combine forces to bridge the continent’s infrastructure deficit and shore up the levels of intra-Africa trade.
APD is an annual event organised by the Africa Prosperity Network (APN) in collaboration with AfCTA, under the auspices of the African Union (AU).
The Executive Chairman of APN, Mr Gabby Asare Otchere-Darko, in his address to the participants stated that investing in Afric's infrastructure space is pivotal to achieving the vision set out in the AfCFTA agreement.
Mr Gabby Asare Otchere-Darko
Despite the continent’s potential, its infrastructure gap serves as a more potent blockade. The success of AfCFTA hinges on key enablers, such as energy, water, R&D, ICT, transport & logistics, and the digital economy. This calls for substantial investments in infrastructure, that will yield even greater rewards, enabling our efforts to create a larger pool of good jobs with good pay", he said
He encouraged African leaders and businesses to put more efforts in ensuring a cross border trade among the various countries. He believes this will yield a positive outcome in the future and bring the prosperity of the continent to bear.
“This is where we must now direct our collaborative efforts if we are serious about allowing Africans to do business across Africa and for our young people, who will build Africa, to see their future in Africa. At APN, we envision an Africa where every bridge built serves as a flyover to opportunity, and every road paved leads to prosperity", Mr Asare Otchere-Darkoh added.
Speaking on the theme for the APD 25, the Minister for finance and economic planning, Dr Mohammed Amin Adams stated that the Africa continent must focus on robust infrastructure development, stronger integration and innovative financing to access the capital in addressing the challenges facing continent.
He, however, revealed that the challenges confronting the continent is enormous and will require greater effort to address. "Quite frankly, 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 revealed.
UN Resident Coordinator for Ghana, Charles Abani stressed the need for Africa to secure funding to bridge a $170 billion financing gap. He emphasized the importance of prioritizing impactful projects for economic growth, job creation, and poverty reduction. He highlighted the role of technology, innovation, and inclusivity in infrastructure development, emphasizing the need for collaboration to achieve long-term success.
“We must leverage technology and innovation to drive efficiency, sustainability, and importantly, inclusivity in our infrastructure development and lastly, we must bring everybody on board. If you want to go fast, they say, go alone, if you want to go far, go together,” Mr Abani said.
The president for Private Sector, Infrastructure & Industrialization at the African Development Bank Mr Solomon Quaynor, in his key partner message at the launch of APD 2025 indicated that to address the African continent’s infrastructure shortfall, the continent needs about 130 to 170 billion dollars a year with a financing gap of 70 to a 110 billion dollars.
“This financing gap is increased as we aim to ensure that all infrastructure today is climate change resilient or compliant. So, closing this gap remains the single important step we can take to structurally boost our economic development, make it more inclusive and competitive, and attain the Africa we want,” He said.