Massive infrastructure spending needed in Africa, says report

Economic growth in Africa picked up steam last year and is set to accelerate strongly in 2018, but “massive investments” are needed in infrastructure, the African Development Bank (AfDB) said Wednesday.

Growth in Africa rose from 2.2 percent in 2016 to 3.6 percent in 2017 and is likely to rise to 4.1 percent in 2018 and 2019, the AfDB said in its annual report, African Economic Outlook.

Last year’s spurt has a range of explanations, including a recovery in prices for oil, which helped petroleum exporter Nigeria, Africa’s most populous country.