African Countries Urged To Enhance Domestic Resource Mobilization For Infrastructure
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Speaking Wednesday at AU HQ in Addis Ababa during the 48th Executive Council session, Mataboge highlighted funding shortfalls hampering continent-wide development, growth, competitiveness and intra-AU trade.
Global capital costs rise sharply for Africa; official development assistance declines. Innovative financing via domestic mobilization, stronger African multilaterals and partner negotiations essential.
Projects must prioritize local content, skills and products—steel, cement—to deliver true infrastructure value. Poor credit ratings inflate borrowing costs; many nations struggle tapping internal funds.
Finance remains core challenge; international loans prove expensive amid financial dilemmas. Mobilization unlocks core needs without over-reliance on high-cost external debt.
