African Infrastructure Guarantee Mechanism (AIGM), Mauritius
AUDA-NEPAD officials attended the 3rd African Pension Funds and Alternative Investments Conference in Mauritius from the 20th – 21st of March 2019. AUDA-NEPAD presented a session on Scaling Risk Mitigation to enable greater pension fund investment in Africa’s Infrastructure: The African Infrastructure Guarantee Mechanism. The conference resulted in meaningful discussions as the event was well attended by an audience mostly composed of industry players (private pension fund administrators, trustees, asset managers, government pension funds and Development Finance Institutions), this demonstrated and reiterated the significance of the African Infrastructure Guarantee Mechanism as an initiative by AUDA-NEPAD to increase the allocation of African asset owners from an approximate 1.5% to 5% of Assets under Management (AUM) by reducing the risk and crowd in the capital markets players’, pension funds, investment managers and other financial investors in Africa’s infrastructure.
Fourth PIDA Week, Victoria Falls, Zimbabwe
Fourth PIDA Week’s theme was “Good Governance – realizing Smart Infrastructure for Africa’s Integration”. The 2018 PIDA Week built on previous events to continue to engage stakeholders on the effective delivery of infrastructure on the continent focusing specifically on good governance and how it can specifically help to: enable project preparation and implementation support resource mobilisation, promote private sector confidence to invest in PIDA projects, and encourage integration of PIDA projects into national development plans. As part of the strategy of cross-linkages with PIDA stakeholders, PIDA Week 2018 incorporated the Africa Forum for Utility Regulators (AFUR) AGM and annual conference for robust engagement.
Third PIDA Week, Swakopmund, Namibia
This year’s PIDA Week focused on the theme “Regional Infrastructure Development for Job Creation and Economic Transformation” – a central element was the so-called “market packaging” of five PIDA Programmes that are particularly impactful for socio-economic development. By presenting respective action plans, project owners were seeking further financing partners for its realization. Another highlight was the High Level Roundtable on Job Creation, Trade Facilitation and Economic Transformation through Regional Infrastructure, which was opened by the NEPAD Agency and its achievements in support of job creation and intra-African trade.
AU-EU Summit, Abidjan, Côte d’Ivoire
The African Union (AU) and the European Union (EU) hosted a joint summit, the 5th AU-EU Summit in Abidjan, Côte d’Ivoire from 29th to 30th of November 2017. The AU-EU Heads of State and Governments Summit takes place every three years and reviews progress made in the implementation of joint programmes to provide political and technical guidance on further actions. In this regard, the 6th EU-Africa Business Forum were held, in which the NEPAD Agency and AUC-DIE represented PIDA at numerous events. One of the activities was the presentation, “market packaging”, of five PIDA Programmes seeking investment opportunities.
Africa is characterized by an infrastructural deficit, a situation that remains critical. In fact, across the continent, 319 million people are living without access to improved reliable drinking water sources, 695 million people are living without basic sanitation access, only 34 percent have road access, and 620 million people don’t have access to electricity (sub-Saharan Africa). These insufficient infrastructure networks across the continent have limited cross-border flows of trade, capital, information, and people, drastically affecting Africa’s growth and broader development performance and regional integration. The Program for Infrastructure Development in Africa (PIDA), a continental initiative aimed at tackling the infrastructure deficits in Africa by 2040, should address these major gaps, but the effort is a long way from meeting its potential.