IFA chairperson and chief executive Neil de Beer. Photo: Supplied

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CAPE TOWN – Chairperson and chief executive of Investment Fund Africa (IFA), Neil de Beer – celebrating Africa Day – noted that Africa does not have a money problem but a planning problem.

The IFA CEO highlighted , in an interview on the eve of Africa Day, that Africa was in a $1.3 trillion infrastructure annual deficit. 

Statistics reveal that Africa has a population of about 1.3 billion and in 2100 the population is estimated to balloon to about 4 billion.

De Beer says: "It is an astronomic and scary ideology to think that this continent in 100 years will probably need to feed at least four time the number of people it feeds today. The question we must ask is: 'What is our biggest problem?'

"Our biggest problem is not the money, it is not the aptitude of understanding that we have a deficit. But we have now found out that there is a total lack of planning for projects to be implemented on this continent." 

De Beer says Africa must solve its own problems and the continent as a whole is more than capable of doing that, however, international partnership is key. 

"The government cannot continually come up with all the solutions. Private enterprise is a different ideology … it works for profit, therefore it must work for gain and therefore it's got no time to waste, it must move, profit must be made." 

The IFA has been brought to this country and this continent to not only plan projects with the government, not only consult to put them together but to finance them as well.

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Investment Fund Africa (IFA), an investment fund with a primary focus on Africa, has announced that it has secured $6 billion (about R85bn) for the first phase of its drive to develop infrastructure in Africa.

BUSINESS REPORT ONLINE