Shearman And Sterling

Event July 16, 2017

US-Africa Business Summit

  • Washington DC

Counsel Kimberly Heimert (Washington, D.C.-Project Development & Finance), moderated a panel of industry leaders at the Corporate Council on Africa’s U.S.-Africa Business Summit on July 16, focusing on African Integrated Regional Infrastructure Projects. The panel discussed why regional infrastructure projects are important to Africa’s development, the challenges of implementing such projects, the programs currently in place to support the success of such projects, and suggest ions for reforms to make successful implementation of such projects more likely. Specifically, they discussed the significant infrastructure gap in Sub-Saharan Africa that the World Bank has said will require capital investments of approximately $100 billion per year, and concluded that successful regional infrastructure projects tend to have a clear revenue stream to support the expenditure of capital necessary to complete the project and that political will and prioritization of all countries involved in a regional infrastructure project are vital to its success.  The panel also discussed whether any of the current programs or institutions in Africa do or could effectively facilitate the cooperation among various governments and whether any of the current institutions in Africa, such as the African Union or the various Regional Economic Committees, could be helpful in facilitating successful regional infrastructure projects.