Minister Patel: Africa’s infrastructure challenges also an investment opportunity

Trade and Industry Minister Ebrahim Patel says Africa’s infrastructure challenges don’t have to get in the way of the continent’s economic growth.

Patel addressed delegates at the BRICS manufacturing forum in Sandton on Monday, on the eve of the bloc’s headline 15th summit.

The meeting of global leaders will officially kick off on Tuesday to discuss plans to reshape the political economic landscape, as well as the expansion of the bloc of emerging markets.

African states are notoriously plagued by energy and transport woes, impacting the ability to do business.

This is also expected to take centre stage as several of the bloc’s members talk shop.

But Patel said the infrastructure challenges on the African continent also presented the continent with investment opportunities.

“Africa is poised to be a fast-growing continent – in demographics, in economics, in innovation. And Africa’s challenges are also Africa’s enormous opportunities – infrastructure investment in energy and transport, industrialization through promoting private sector participation and opening up markets, innovation through promoting green technologies and digitization, and finally, inclusivity through encouraging micro, small and medium enterprises, and job creation.”

-EWN

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