West Africa is increasingly identified as an attractive destination for investors across all economic sectors.
Its growing population of over 300 million and abundant resources continue to drive steady economic growth, as seen by a 6% average annual growth rate over the past decade.
In addition, improved governance and political stability, institutional reforms, declining trade barriers, adoption of technology, and a re-emerging middle class attributable to an increasingly empowered and mobile workforce continue to contribute to the pace of development of the region.
Recommended: Nigeria – Racing ahead with ambitious infrastructure plans: This is Africa/Financial Times (Infographic & Report)
While Africa’s infrastructure lags well behind that of the rest of the world, there appears to be a renewed enthusiasm among leaders and civil society on the continent to improve the situation.
There is widespread recognition of Africa as a growing consumer market, a future skills and innovation pool as well as an owner of abundant natural resources.
This combination of factors is driving interests in infrastructure investment and development for both local and foreign players.
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Understanding West Africa’s Infrastructure Potential: PwC
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- Nigeria – Racing ahead with ambitious infrastructure plans: This is Africa/Financial Times (Infographic & Report)
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