“African countries are working on building a free-trade agreement between the Southern African Development Community, the East African Community and as well as the Common Market for Eastern and Southern Africa which will establish a larger regional market that could be the basis for integration to the global economy for the benefit of all parties to the agreement,’ Gigaba, South Africa's Minister of Public Enterprises said on Tuesday
The Minister was speaking at the Infrastructure Africa 2013 conference in Sandton, South Africa.
The conference is aimed at providing a premier platform for business and government representatives to exchange information, understand developments and confirm infrastructure investment opportunities.
World Bank stated that 93 billion US dollars are needed to fund infrastructure development in Africa, this year alone.
Gigaba alluded to long term vision and planning as a key to successful development as well as intellectual capital to optimise the development process.
“First we need to learn to procure infrastructure based on a life-cycle perspective other than just procuring a product. Secondly we need to localise the ability to manage large complex, infrastructure construction projects and optimise the participation of locals in the build process. Thirdly we need to learn how to leverage the procurement of infrastructure equipment.”