Africa Prosperity Network and AfCFTA Host Landmark Webinar on Infrastructure Funding for Continental Growth
The Africa Prosperity Network (APN), in partnership with the African Continental Free Trade Area (AfCFTA) Secretariat, convened a high-level webinar on April 10 to explore viable strategies for financing and developing infrastructure across Africa to drive trade, people mobility, and economic prosperity.
The online discussion, themed “The Africa We Want: How Should Africa Fund and Build the Infrastructure for Trade, People Movement and Prosperity?”, was moderated by Asaase Radio’s Nana Yaa Mensah and Kojo Mensah. The session brought together key figures from finance, logistics, engineering, tourism, and development sectors to address the continent’s persistent infrastructure challenges.
Urgent Infrastructure Gaps
In his opening remarks, Mr. Sidig Eltoum, CEO of the Africa Prosperity Network, highlighted deep-rooted structural gaps stalling Africa’s economic integration.
“Africa’s infrastructure deficit is mainly caused by fragmented road, air transport, and rail networks, unreliable energy supply, inefficient logistics systems and limited digital connectivity,”
he stated.
“Infrastructure is not only a commercial opportunity but also a vehicle for long-term prosperity for Africa.”
Echoing this urgency, Mr. Rui Pedro Afonso Livramento, Chief of Staff at the AfCFTA Secretariat, added:
“The time to build infrastructure is now; we need more actions that can translate into plans.”
The “One Dollar A Day” Initiative
A key highlight of the session was the unveiling of the Integrated Africa Infrastructure Growth Fund, popularly dubbed the “One Dollar A Day” campaign—an ambitious crowdfunding initiative designed to rally financial support from across the continent and its diaspora.
Spearheading the initiative, Ghanaian finance expert Mr. Eric Otoo broke down its dual-track approach:
“The One Dollar A Day project will have two parts: the commercial aspect and the social aspect. The commercial aspect will target institutions, especially multilateral organisations, while the social aspect will take the form of donations from individuals and organisations to finance selected infrastructure projects in Africa.”
He stressed the importance of urgency:
“Africa Infrastructure Development Funding: We have started, and we have to start somewhere. Let’s be unified and take the steps now.”
Panelists reflected on how outdated colonial-era infrastructure systems, designed for resource extraction rather than integration, continue to impede intra-African trade.
Quantifying the Challenge
According to World Bank projections, an integrated African market could boost continental income by $450 billion by 2035 and lift 30 million people out of extreme poverty. Yet Africa’s annual infrastructure funding gap—estimated at $130–$170 billion—far exceeds what public resources can support. Poor infrastructure currently inflates intra-African trade costs by 30–40%, while intra-continental trade remains stagnant at about 30–40%, lagging behind other global regions.
Mr. Ziad Hamoui, President of Borderless Alliance (Ghana), emphasized the need for a strategic rethink:
“Africa’s Infrastructure Development Funding: We need to understand what the problem is so that we can come up with a pragmatic solution.”
He added:
“True African integration requires us to reimagine our borders not as barriers but as bridges, points of connection rather than division. A fundamental shift in mindset is required where we see the seamless movement of goods and people as an economic multiplier to unleash.”
Financial Innovations and Models
The webinar explored innovative funding mechanisms. Mr. Emeka Uzomba, Director of Banking & Special Initiatives at Afreximbank, outlined three strategic financing approaches:
Infrastructure bonds backed by Afreximbank guarantees, with 8–10% returns
A Pan-African Infrastructure Credit Rating system to de-risk projects
Blended finance structures with multilateral institutions covering first-loss liabilities
Mr. Uzomba also revealed that Afreximbank has allocated $5 billion for cross-border infrastructure projects meeting integration benchmarks, with funds to be disbursed from Q3 2025.
From Ghana’s Ministry of Roads and Highways, Mr. James Amoo-Gottfried showcased a successful model:
Ghana’s Road Fund, which uses a mix of fuel levies (6% of pump price), toll revenues, and digital tolling for infrastructure development.
“The Africa We Want should be deliberately crafted for our purposes,”
he said.
Mr. Pierre Coussey, a Ghanaian entrepreneur, underscored the profitability dimension:
“We need to align profitability to our development. For someone to invest in infrastructure, we must show profitability.”
Adding to the discussion, Ms. Serwaa Agyemang-Botchey from Microsoft London advocated a phased approach:
“Africa’s Infrastructure Development Funding: We need to start small with a couple of principles, then over time, we can scale up. We need to get something done.”
Removing Barriers to Mobility
The conversation also focused on barriers impeding cross-border travel and goods movement. Mr. Gideon Asare, CEO of Adansi Travels, pointed to major aviation and visa hurdles:
“Only 25% of intra-African air routes are served directly, while visa-on-arrival policies cover just 54.9% of the continent. A simple business trip between Accra and Nairobi typically costs 40% more and takes twice as long as travelling to Dubai as a result of tough visa processes, lack of integrated transport systems, and protectionist aviation policies.”
He added:
“Visa restriction is something we need to look at across Africa; there should be easy movement of goods and services across the continent.”
Mr. Anthony Pile, Chairman of Blue Skies Holdings, reinforced this call for openness:
“We do not need to be stuck in borders to limit our trade.”
Building on the Accra Compact
The event followed the Africa Prosperity Dialogues 2025 in Accra, which produced the Accra Compact 2025—a framework of 44 actionable recommendations for African governments, the private sector, and multilateral institutions.
Governments pledged to streamline regulations and fast-track projects in key corridors like Lagos-Abidjan and the Lobito Corridor. The private sector committed to funding transformative ventures in rail, renewable energy, and digital infrastructure. Development partners, including the AfDB and Africa50, committed to mobilising up to $2 trillion in domestic capital.
Ms. Tshegofatso Motaung, founder of CedarLeb (South Africa), emphasized infrastructure’s role in empowering small businesses:
“MSMEs can benefit and scale up businesses to expand their markets when critical infrastructure is put in place.”
A Growing Urgency
The need for investment grows more pressing as Africa’s population continues to surge—28 countries have doubled in size over the last 30 years, and 26 more are expected to do so within the next three decades.
Since the launch of AfCFTA in 2021, which created the world’s largest single market of 1.4 billion people and a $3.4 trillion combined GDP, infrastructure development has become an imperative—not a choice.
The webinar ended with a shared resolve: Africa’s prosperity depends on bold, coordinated, and timely investment in the roads, rails, ports, skies, and digital highways that will carry the continent into its future.
