<<Print>>

The Minister of Finance, Dr. Mohammed Amin Adam, has called on African governments to embrace Public Private Partnerships (PPPs) as a viable solution to bridge the infrastructure gap in order to increase economic growth.

Speaking at the launch of the third edition of the Africa Prosperity Dialogues (APD) 2025, in Accra yesterday, he said governments must explore new avenues for mobilizing resources such as green bonds and leverage on digital technologies to enhance financial inclusion and access to capital.

He said, “Africa Prosperity Dialogues serves as a timely platform to reaffirm our commitment to advancing prosperity and development across the continent.

“Let us seize this opportunity to embrace innovation, foster partnerships, and chart a course towards a more prosperous and sustainable future for all Africans,” he said.

According to the Minister, African governments should redouble their efforts to invest in critical infrastructure projects, including transportation, energy, and digital connectivity, to unlock Africa’s full potential for trade and investment.

He, also, stated that the escalating debt-to-GDP ratio across the continent, estimated by the UNECA at 66% in 2023 indicates that African governments face US$89 billion in external debt servicing in 2024 posing significant risks to fiscal sustainability and economic stability.

That, he said, impedes economic growth and development especially with road networks, rail, air and waterways making transport costs in Africa among the highest in the world.

He, therefore, emphasized that Africans with a shared vision could work together to overcome logistical barriers and unlock the full potential of regional integration, trade facilitation, and economic development while calling on ECOWAS and the African Union to lead by example to spearhead initiatives to promote cross-border infrastructure investments and connectivity.

Gabby Asare Okyere Darko, Executive Chairman of the African Prosperity Network (APN) organizers of the dialogues, said Africa with the largest single market of 55 countries, still required a collective and sustained commitment from all countries, political leaders of Africa, institutions of state, the continent institutional development partners, champions of businesses among others to support the continent.

He said given the critical role of the private sector in the development of the country, Africa Prosperity Network (APN) would therefore help ‘mobilize, aggregate and engage Africa’s business decision-makers in the process of creating utmost urgency, a vibrant eco-system that would have free and productive movement of people, goods and services across member states’.

The 2025 edition of the event will be organized by the Africa Prosperity Network (APN) in partnership with the African Continental Free Trade Area (AFCFTA) Secretariat and the Office of the President.

Also present at the launch include Minister for Railway Development, John Peter Amewu, UN resident coordinator in Ghana, Charles Abani, Vice President of the African Development Bank (AFDB), Solomon Quaynor, High Commissioner of Rwanda to Ghana, Rosemary Mbabazy and other notable dignitaries.

The event slated for Thursday, January 30, to Saturday February 1, 2025 is under the theme “Delivering Prosperity through Infrastructure: Invest- Integrated-Connect.”