The online event was held in the run-up to the eighth Tokyo International Conference on African Development, or TICAD, which takes place in Tunisia from 27-28 August 2022. Africa received its highest proportion of private sector investment in infrastructure in 2020, sending an important signal to governments and investors.

African Development Bank Vice President for the Private Sector, Infrastructure and Industrialization, Solomon Quaynor, underlined this point during a webinar organized by the African Development Bank and the Japan International Cooperation Agency (JICA) on 24 August. The online event was held in the run-up to the eighth Tokyo International Conference on African Development, or TICAD, which takes place in Tunisia from 27-28 August 2022.

Quaynor said the greater private sector investment came as most African governments contended with the Covid-19 pandemic, limited fiscal space and high debt-to-GDP ratios. “Private sector investment into Africa’s infrastructure rose to $19 billion in 2020, representing 23%, the highest since 2016. This counter-cyclical role played by the private sector shows the importance of its growing role in infrastructure financing in Africa,” he said in remarks at the close of the webinar, themed Private Sector Infrastructure Development Opportunities in Africa.
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