The Chairman of FASMICRO Group and Founder of African Institution of Technology , Prof Ndubuisi Ekekwe, will speak during the 2nd Africa Urban Infrastructure Investment Forum in Angola April 29-30th. The Forum is for leading investors, thought-leaders and decision makers. Dr. Ekekwe will speak on a panel titled Smart Cities & Innovation.
The UN estimates that by 2030 some cities will grow by 50% and some will actually double in size. How can Africa cope with this urban revolution?
Although urbanisation is usually associated with rising incomes, better living standards, and improved human development, these economic and social advantages will not come automatically. Africa’s rapid urbanisation is putting significant pressure on existing infrastructures and the ability of cities to offer accommodation and services to all citizens. Today, 72% of urban dwellers live in slums and their living conditions are often worse than in rural areas.
To meet Africa’s infrastructure gap, $93bn of annual investment is needed, while governments currently spend only $45 bn. Investments driven by urbanisation will grow much faster across the continent, thus creating scope for exceptional growth in infrastructure projects and other subsectors. This potential is still largely unknown to international investors and its profitable opportunities are yet to be tapped into.
FASMICRO Group as a leading player in the investing ecosystem in Africa syndicating capital for mainly public projects will be sharing insights on how Africa can meet some of these challenges.
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