By Jackson Okoth

For Africa to play catch-up with the rest of the world on infrastructure, achieve the Millennium Development Goals and national development targets within 10 years, it will need an annual investment of $93 billion (Sh6.9 trillion).

This is according to findings of a World Bank study done by Africa Infrastructure Country Diagnostic (AICD), an initiative that is the result of a partnership between the African Union Commission, the African Development Bank, the Development Bank of Southern Africa, the Infrastructure Consortium for Africa and the New Partnership for Africa’s Development.

Dubbed Africa’s Infrastructure — a Time for Transformation, the study is expected to provide policy-makers, investors, think-tanks, academia and civil society with a wealth of new information and analysis about the state of infrastructure and finances around the continent. There is also a link between Africa’s economic growth, poverty reduction efforts and the quality of its infrastructure.

"This includes its power, transport systems, water supply and sanitation and its ICT networks," said Ms Obiageli Ezekwesili, World Bank Vice-President for Africa.

Build and rehabilitate

She spoke recently during a public lecture at the University of Nairobi at the end of a three-day visit to Kenya.

Out of the $93 billion, two-thirds is required to build and rehabilitate infrastructure that is in disrepair. One-third is needed for operations and maintenance of existing facilities.

The good news is that Africa spends $45 billion a year or almost half the required amount on infrastructure.

Surprisingly, the public sector and African taxpayers domestically fund an impressive two-thirds of this spending. One-third comes from donors and overseas investors. It is estimated that Africa could generate an additional $17 billion from existing resources through improving various aspects of efficiency, such as better maintenance of infrastructure assets, improved budgetary procedures, closer regional integration, faster institutional reform, better management of utility networks and greater cost recovery.

"Raising more funds without tackling inefficiencies would be like pouring water into a leaking bucket," said Ezekwesili

When potential efficiency gains are taken into account, the funding gap that remains is about $31 billion a year.

Efficiency gap

However, even after all efficiency gains are realised, a substantial funding gap of $31 billion will remain, particularly for power infrastructure and fragile states.

"This is where I hope African institutions and international organisations and investors can come together," said Ezekwesili

She urged governments to urgently make addressing the $17 billion efficiency gap a pressing policy priority.

In the current economic climate, finding the financial resources for Africa’s huge infrastructure needs is an enormous challenge. But without those resources, African governments will find it very difficult to catch up with other regions.

"The continent’s institutions and international partners must work together to overcome this challenge and quickly.

"When I think about infrastructure in Africa, I am both encouraged and concerned," said Ezekwesili.

Figures indicate about 30 African countries experience chronic power outages and around 560 million people in Sub-Saharan Africa lack access to modern energy.

The World Bank says investments in infrastructure in Africa are therefore now more important than ever.