The founder of the MINT and BRIC acronyms is going to be discussing Africa in Lagos on March 25th. If anyone can speak on Africa’s infrastructure problems, it’s Jim O’Neill.
VENTURES AFRICA – Leading international economic and business leaders including Jim O’Neill, Bayo Ogunlesi and Ngozi Okonjo-Iweala are set to discuss the way forward for Africa’s infrastrcutural deficit at the Africa Finance Corporation (AFC) summit billed for 25th of March in Lagos, Nigeria.
The Summit, titled: ‘AFC Live: Bridging the Infrastructure Divide’, responds to the need to seek solutions to address the scale of Africa’s infrastructure requirements and its investment deficit, which is conservatively estimated at over $40 billion per annum over the next 10 years.
It will also discuss issues such as Africa’s need to take the lead in bridging the investment divide whilst also accessing international capital as part of a joined up and holistic approach.
“The summit is a key opportunity to for a broad range of stakeholders, from national governments to the indigenous and international private sector and donor partners, to contribute to the development of constructive solutions to the deficit in infrastructure investment in Africa which continues to hold back economic growth on the continent,” said Bayo Ogunlesi, Chairman of AFC.
According to Jim O’Neill, former Chairman of Goldman Sachs Asset Management (best known for coining the ‘BRIC’ and ‘MINT’ acronyms), if Africa is to reach its potential as the home to some of the fastest-growing economies in the world, then infrastructure will play a vital role in making that happen.
The AFC Summit will serve as a catalyst for growth in infrastructure development in Africa, by focusing on investments in the sectors that are critical to economic growth on the continent and attracting new investment partners and member states.
The AFC is an African-led multilateral development financial institution which plays not just a vital role in brokering these discussions, but also in financing and advising some of most transformative infrastructure projects on the continent.