The Chairperson of the African Union Commission (AUC), H.E. Mahmoud Ali Youssouf, has urged African nations and development partners to step up investment in infrastructure, emphasising that Africa needs $130 billion annually to close its infrastructure gap and secure its economic sovereignty.
Speaking at the 3rd Summit on Financing for Infrastructure Development in Africa held in Luanda, Angola, Youssouf said that infrastructure remains the backbone of the African Continental Free Trade Area (AfCFTA) and the key to unlocking the continent’s economic potential.
“Africa must invest 130 billion dollars yearly to close its infrastructure gap the backbone of the AfCFTA and of our economic sovereignty,” he told Heads of State and Government attending the high-level summit.
Highlighting the progress achieved under the Programme for Infrastructure Development in Africa (PIDA), Youssouf noted that the initiative has already delivered 16,000 kilometres of roads, 4,000 kilometres of railways, and energy access for 30 million people across the continent.
“The next phase will scale this success through domestic resource mobilisation, innovative financing, and stronger global partnerships,” he added.
Reaffirming his vision for continental integration, the AU Chairperson declared, “Africa’s integration is not a dream; it is our method.”
The summit, hosted by H.E. João Lourenço, President of the Republic of Angola, in collaboration with the African Union Commission, seeks to mobilise capital and accelerate progress on strategic infrastructure projects that will enhance connectivity, trade, and industrialisation across Africa.
Delegates from African governments, regional economic communities, development banks, and private sector partners attended the meeting, reaffirming their commitment to advancing Africa’s infrastructure transformation agenda in line with Agenda 2063.