Approach infrastructure financing deficit with more efficiency – Qalaa Holdings

Posted on November 20, 2015

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Karim Sadek, Managing Director, Qalaa Holding, Transport Division

African governments have been urged to improve on efficiency to narrow the gap on infrastructure financing.

According to Qalaa Holdings Managing Director in charge of Transport and Logistics Karim Sadek, the current $ 17B of the $93B infrastructure financing deficit in Africa is due to lack of efficiency.

This he noted while speaking at the Infrastructure and Logistics panel at an event held by The Economist. This is part of the #GrowthCrossings series of the events.

Mr Sadek further urged the continent to harness its numbers in building strong economic and trade blocs that are well defined.

“China has clear teeth; The European Union has teeth but also restrictions, America continues to be strong but when you come to our region, Africa has very little teeth within the trade environment.” he noted.

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From left to right : Jonathan Rosenthal, Africa Editor, The Economist, Peter Njonjo, General Manager, EA, The Coca Cola Company, Julie Adele- Owino, Group Corporate Relations Director, EABL, Madhur Jha, Senior Economist, Thematic Research, Standard Chartered Bank and Karim Sadek, Managing Director, Qalaa Holding, Transport Division

Further, he pointed out the need for African governments to explore the options of investing in maintenance and upgrades of existing infrastructure to improve on intra-Africa trade.

“If we look at the power sector, how much policy is about building rather than maintaining? If you look at the media, stories about building new capacity is a hot topic; no one wants to hear about maintaining what is already there. This is a Cairo to Cape problem. Africa needs to focus on the quality and not just the availability of connection.” He said.

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