Africa Prosperity Network hosts high-level webinar on infrastructure financing for continental trade and mobility

Accra, Ghana, 10 April 2025 – The Africa Prosperity Network (APN), in collaboration with the African Continental Free Trade Area (AfCFTA) Secretariat, yesterday hosted a critical post-Africa Prosperity Dialogues (APD) 2025 webinar examining how Africa can effectively fund and build the infrastructure necessary to support trade, people movement, and continental prosperity.

The virtual event, titled “The Africa We Want: How Should Africa Fund and Build the Infrastructure for Trade, People Movement and Prosperity?”, was moderated by Nana Yaa Mensah and Kojo Mensah of Asaase Radio. It brought together key stakeholders from financial institutions, manufacturing, logistics, tourism, engineering, and development sectors to discuss transformative solutions to Africa’s infrastructure challenges.

Addressing the webinar, Mr. Sidig Eltoum, Chief Executive Officer of the Africa Prosperity Network, highlighted the fundamental infrastructure gaps hindering Africa’s economic integration.

“Africa’s infrastructure deficit is mainly caused by fragmented road, air transport, and rail networks, unreliable energy supply, inefficient logistics systems, and limited digital connectivity,” said Mr. Eltoum. “Infrastructure is not only a commercial opportunity but also a vehicle for long-term prosperity for Africa.”

Mr. Rui Pedro Afonso Livramento, Chief of Staff at the AfCFTA Secretariat, underscored the urgency of action. “The time to build infrastructure is now; we need more actions that can translate into plans,” said Mr. Livramento.

GROUNDBREAKING “ONE DOLLAR A DAY” INITIATIVE UNVEILED

A highlight of the session was the detailed presentation of the Integrated Africa Infrastructure Growth Fund, also known as the “One Dollar A Day” campaign – a revolutionary crowdfunding initiative that emerged post-APD 2025.

Mr. Eric Otoo, a finance expert from Ghana who is spearheading the initiative, provided comprehensive details about this innovative funding approach.

“The One Dollar A Day project will have two parts: the commercial aspect and the social aspect,” explained Mr. Otoo. “The commercial aspect will target institutions, especially multilateral organisations, while the social aspect will take the form of donations from individuals and organisations to finance selected infrastructure projects in Africa.”

Mr. Otoo emphasised the importance of immediate action: “Africa Infrastructure Development Funding – we have started, and we have to start somewhere. Let’s be unified and take the steps now.” The two-hour session examined how colonial-era infrastructure systems designed primarily for resource extraction continue to impede intra-African trade and economic integration.

Participants explored how the “One Dollar A Day” initiative could harness support from both Africans and the global African diaspora to create a sustainable funding model for the continent’s infrastructure needs.

INFRASTRUCTURE GAPS AND ECONOMIC IMPACT

World Bank estimates suggest full realisation of an integrated African market could increase continental income by $450 billion by 2035 and potentially lift 30 million people out of extreme poverty. However, Africa faces an annual infrastructure financing gap of approximately $130–170 billion, well beyond what governments can shoulder alone.

Currently, substandard transport infrastructure inflates intra-African trade costs by 30% to 40%, with intra-African trade remaining low at just 30–40% compared to other regions.

Mr. Ziad Hamoui, President of Borderless Alliance (Ghana), addressed these challenges directly: “Africa’s Infrastructure Development Funding – we need to understand what the problem is, so that we can come up with a pragmatic solution.” Mr. Hamoui called for transformative vision: “True African integration requires us to reimagine our borders not as barriers but as bridges – points of connection rather than division. A fundamental shift in mindset is required, where we see seamless movement of goods and people as an economic multiplier to unleash.”

INNOVATIVE FINANCIAL SOLUTIONS

The webinar explored multiple financing approaches, with Mr. Emeka Uzomba, Director of Banking & Special Initiatives at the Office of the President, Afreximbank, detailing three revolutionary approaches:

1. Infrastructure bonds with Afreximbank guarantees offering 8–10% returns

2. A proposed Pan-African Infrastructure Credit Rating system to de-risk projects

3. Blended finance facilities where multilateral institutions absorb first-loss portions

“As a bank, we have funded many infrastructure projects across the continent to help with the connectivity of goods and services on the continent,” Mr. Uzomba said, adding that Afreximbank has earmarked $5 billion for corridor projects meeting specific integration criteria, with disbursements beginning Q3 2025.

Mr. James Amoo-Gottfried, Director of Urban Roads at Ghana’s Ministry of Roads and Highways, shared Ghana’s innovative Road Fund model, which combines fuel levies (6% of pump price), toll revenues, and digital road tolling to create sustainable financing. “The Africa We Want should be deliberately crafted for our purposes,” he said.

Mr. Pierre Coussey, a businessman from Ghana, highlighted the critical link between infrastructure investment and profitability. “We need to align profitability to our development,” he stated. “For someone to invest in infrastructure, we must show profitability.”

Ms. Serwaa Agyemang-Botchey from Microsoft London advocated for an incremental approach: “Africa’s Infrastructure Development Funding – we need to start small with a couple of principles, then over time, we can scale up. We need to get something done.”

ADDRESSING MOVEMENT AND CONNECTIVITY BARRIERS

The webinar tackled challenges related to visa restrictions and border complexities that impede the free movement of people and goods across Africa.

Mr. Gideon Asare, Chief Executive Officer of Adansi Travels, highlighted stark statistics: “Only 25% of intra-African air routes are served directly, while visa-on-arrival policies cover just 54% of the continent. A simple business trip between Accra and Nairobi typically costs 40% more and takes twice as long as traveling to Dubai, as a result of tough visa processes, lack of integrated transport systems, and protectionist aviation policies.”

He also said that the challenges faced at the borders are huge; documentation is not harmonised, and travel requirements across borders are problematic. Visa restriction is something we need to look at across Africa; there should be easy movement of goods and services across the continent.

Mr. Anthony Pile, Chairman of Blue Skies Holdings, directly addressed the issue: “We do not need to be stuck in borders to limit our trade.”

THE ACCRA COMPACT 2025 FRAMEWORK

The webinar built on the recent Africa Prosperity Dialogues 2025 in Accra, which culminated in the APD 2025 Compact – a clear framework of commitments among business leaders, heads of state, and development partners.

This compact centres on commitments from governments, the private sector, and multilateral institutions. The private sector has pledged to invest in transformative projects such as regional railways, renewable energy, and digital systems via public-private partnerships.

Governments, in turn, have committed to enabling environments through policy reform, regulatory streamlining, and project delivery, especially in corridors like Lagos–Abidjan and the Lobito Corridor. Multilateral institutions, including the AfDB and Africa50, have vowed to mobilise up to $2 trillion in domestic capital, leveraging blended finance and de-risking instruments.

Ms. Tshegofatso Motaung, Founder of CedarLeb (South Africa), noted that “MSMEs can benefit and scale up businesses to expand their markets when critical infrastructure is put in place.”

BACKGROUND

The webinar built on discussions from the Africa Prosperity Dialogues 2025, held in Accra from 30 January to 1 February, which produced the Accra Compact 2025 with 44 recommendations for action by African Union member states.

Africa’s infrastructure challenges are particularly pressing given demographic trends: over the past three decades, 28 African nations have doubled their populations, with another 26 expected to do so within the next three decades.

The operationalisation of the AfCFTA in 2021 created the world’s largest single market, encompassing over 1.4 billion people with a combined GDP of $3.4 trillion, further highlighting the critical need for infrastructure investment.