Africa needs between $130 billion and $170 billion a year in infrastructure investment, but faces a financing gap of between $68 billion and $108 billion, delegates at a summit in Nairobi have been told. The call to turn infrastructure plans into bankable projects that can attract private capital was the central message of the 16th Africa PPP Infrastructure Finance, Investment and Partnerships Summit, held in Nairobi from 11 to 13 November. More than 400 delegates from 36 countries attended the event, hosted by Kenya's Public Private Partnerships Directorate and organised by AME Trade, ExportFocus Africa reported.

Kenya showcases 60-project pipeline

Kenya used the summit to showcase a pipeline of 60 public-private partnership projects, 10 of which, valued at about KES353 billion, are already operational or under construction, while 50 more are at various stages of preparation. They include the KES183 billion Nairobi–Nakuru–Mau Summit Highway. The government is targeting at least KES70 billion in additional private investment through partnerships in the current financial year, after approving seven new projects in the first quarter.

Kenya's Treasury Cabinet Secretary John Mbadi, represented by Investments, Trade and Industry Cabinet Secretary Lee Kinyanjui, told delegates that infrastructure should be judged by the services it delivers, not by financing commitments alone. PPP Director General Kefa Seda urged delegates to share practical knowledge and develop solutions to the problems slowing projects, HapaKenya reported. Delegates also discussed blended finance, risk-sharing and domestic capital mobilisation, with priority sectors including energy, transport, water, digital infrastructure and industrial parks.