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2nd Dakar Financing Summit Drives Development of World-Class Infrastructure in Africa

Knowledge Facilitation

The 2nd Dakar Financing Summit on 1 – 3 February 2023 under the theme “Maintaining the momentum towards world-class infrastructure in Africa”, calls for the development of world-class infrastructure and the mobilisation of funds from both the private and public sector towards priority regional infrastructure projects.

The Summit is hosted by the Republic of Senegal, the African Union Commission (AUC) and the African Union Development Agency – NEPAD (AUDA-NEPAD), in partnership with the African Development Bank (AfDB) and United Nations Economic Commission for Africa (UNECA).

Development of infrastructure is an important driver of progress. As it stands, the lack of reliable infrastructure in energy, telecommunications, and transport networks have a negative effect on growth and business productivity in Africa.

Therefore the 2nd Dakar Summit will highlight the need to scale-up Africa’s financial resource mobilisation, and will provide a unique high-level platform to convene and engage African leaders, businesses, regulators and policy makers on the challenges and opportunities of infrastructure projects across the continent.

Following the 1st Dakar Financing Summit, this year’s Summit will highlight the implementation of the Programme for Infrastructure Development in Africa’s second Priority Action Plan (PIDA PAP 2). Alongside AU member states, the Summit will present a variety of PIDA projects that focus on infrastructure development, trade, and investment.

H.E. Macky Sall, president of Senegal and African Union (AU) Chairperson, will deliver opening remarks to various Heads of State, representatives of AU Member States, the private sector, development finance institutions, institutional investors, and development partners.

 A presidential roundtable and ministerial dialogues will additionally pave the way for implementation of PIDA and align the projects’ needs with existing funding initiatives. Finally, the Summit will feature a number of deal-rooms where investors have the opportunity to discuss the financial viability of projects with key partners.

About PIDA PAP

PIDA-PAP 2 is the second PIDA priority action plan for the period 2021-2030. The action plan is composed of several proposals set forth by the Regional Economic Communities (RECs) and African Member States. The selection of these projects is chosen based on which proposals best fit with the AU’s Agenda 2063 framework. The portfolio currently includes 70 projects throughout Africa. Key sectors include water management, energy, transport, and connectivity infrastructure.

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