The appetite for growth in Africa’s port landscape is dampened by a lack of financing options
The total value of goods and services produced in Africa is set to increase by 4% this year and 4.1% in 2020 – a trend that could trigger increased demand for expansion of the continent’s ports and associated transport infrastructure network to accommodate the anticipated surge in import and export trade.
The African Export-Import Bank (Afreximbank) has, in its African Trade Report 2019, said that the continent’s total merchandise trade increased to USD997.9 billion last year, a time when the intra-African trade grew by 17% to reach USD159 billion.
Afreximbank has, in the report, which was released in June 2019, attributed the resilience of Africa’s economies amidst global economic volatility to “diversification of Africa’s trading partners in the context of south-south trade, growing fixed investment and public and private consumption, boosted by expanding urban populations and softening inflation”.
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