Towards Implementing the African Continental Free Trade Area (AfCFTA) Agreement: A Framework to Address Bankability Concerns for African Infrastructure Projects

Abstract

In order for the African Union to achieve the laudable trade liberalization and integration objectives of the African Continental Free Trade Area (AfCFTA) Agreement, Africa’s troubling infrastructure deficit remains a key challenge to be resolved. While Africa undoubtedly has a demand for infrastructure projects, and investors the world over have capital to invest, a lack of bankable infrastructure projects in which to invest has remained a key factor occasioning the widening deficit and hindering investment inflow into African projects. In this paper, I articulate the centrality of infrastructure to Africa’s free trade area initiative and then I explain the bankability problem with African infrastructure projects. Finally, I conclude by proffering a framework to resolve the bankability impasse, submitting that its successful implementation will eventually produce quality infrastructure projects that will provide the enabling environment for the AfCFTA to achieve its objectives.