The African Development Bank (AfDB) has added its weight to the move to utilize pension and sovereign wealth funds to finance critical infrastructure in Africa. Speaking to State House correspondents after the meeting, Adesina noted the $68billion to $108billion infrastructure gap in Africa, which he said could be adequately addressed by utilizing the $1.8tn accrued pension and sovereign wealth funds. He said: “Today, Africa has an infrastructure gap of about roughly $68bn to $108bn infrastructure financing gap. “If we can just tap a little part of that, we will close very quickly the infrastructure gap that we are talking about. “So, they become the sovereign wealth of others and then you go back and borrow back your own money; it doesn’t really make a lot of sense.

Source: Nigerian Tribune December 31, 2019 17:37 UTC