Sub-Saharan Africa needs solid legal frameworks, increased private-sector involvement and better fiscal incentives to plug its annual infrastructure-funding gap of about $100 billion, Boston Consulting Group and Africa Finance Corp. said.
The region’s governments have insufficient strategic foresight, political will and policy certainty and numbers of adequately skilled people to improve delivery, the organizations said in a report released Tuesday in Nigeria’s capital, Abuja. Financial systems need upgrading to be sound enough for projects, and nations must develop local capital and debt markets that provide lower financing costs, it said.
