“We are talking about regional projects which means that these projects have a transnational dimension. These projects must interest the private sector because the issue, in PIDA’s implementation, is to foster instruments like PPP. Private sector interest has to be a key criteria,” the NEPAD Agency’s CEO Ibrahim Mayaki told CNBC Africa on Wednesday.
In order to promote integration, socio-economic development and African cooperation, the NEPAD Agency has put together an initiative for accelerating the implementation of key infrastructure projects in Africa.
The Programme for Infrastructure Development in Africa (PIDA) aims to develop strategic framework for the development of regional and continental infrastructure.
Energy, transport, information and communication technologies and trans-boundary water resources are just some of the key focus areas.
“Africa has designed a continental strategy for infrastructure development, that is PIDA, through a concentrative process with regional economic communities, national governments, the African Development Bank, the United Nations Economic Commission for Africa and NEPAD, as the development agency of the AU,” Mayaki explained.
Balance between the different regions of the continent and sectoral balance is also crucial to infrastructure development projects, and Mayaki indicated that business working groups play a decisive role in furthering this.
“We have had very strong cooperation with business working groups. We have about 35 stakeholders and majority of them had global players of the private sector,” he said.
“We are working very closely with a consultancy firm – Oricon has provided very specific and detailed features on each of the projects. Now we have a basket of about 16 projects which could be considered bankable, and dialogue will take place on that.”
PIDA sector studies will assist in prioritising regional and continental infrastructure investment programs over the short, medium and long term, up to the year 2030.