A recent report by Mo Ibrahim Foundation’s (MIF) 2024 African Governance Index Report has spotlighted Egypt as the second leading force in African infrastructure development, ranking among the top five African nations with the most improved infrastructure in 2023. This achievement is shared by four other Arab nations: Morocco, Algeria, Tunisia, and Libya.
The report underscores a growing trend of strategic partnerships between African governments, private sector investors, and international financial institutions to address the continent’s significant infrastructure financing gap.
Egypt’s Infrastructure Transformation
Egypt has spearheaded significant infrastructure investments, both government-led and private sector-driven. These projects aim to bolster economic competitiveness, create jobs, foster inclusive entrepreneurship, and facilitate trade for resilient development.
Government data reveals over 10 trillion Egyptian Pounds invested in infrastructure over the past decade, encompassing a wide range of projects in roads, ports, and railways.
Under the guidance of the Ministry of Planning and Economic Development, Egypt has actively promoted private sector participation in infrastructure development through successful public-private partnership (PPP) models. This approach, coupled with supportive national policies, has enabled Egypt to make substantial strides in infrastructure and economic potential.
Africa’s Infrastructure Challenge
While Egypt and other nations have made significant progress, the African continent as a whole faces a substantial infrastructure deficit. The African Development Bank estimates that Africa requires an annual investment of $130 to $170 billion to meet its infrastructure needs. Similarly, the World Bank suggests that Sub-Saharan Africa must invest approximately 7.1% of its GDP annually to achieve Sustainable Development Goals (SDGs), whereas current investment levels are significantly lower, hovering around 3.5% of GDP.
Despite these challenges, recent years have witnessed notable advancements, particularly in energy, transportation, and technology sectors in Egypt.
