Strategic infrastructure financing to take center stage as Addis Ababa prepares for PIDA Week 2024

Addis Ababa. The African Union is set to host the 2024 edition of the Programme for Infrastructure Development in Africa (PIDA) Week, from November 25 to 29, at the African Union Headquarters in Addis Ababa, Ethiopia. This annual event, a cornerstone in Africa’s infrastructure agenda, aims to propel sustainable development and integration across the continent.

PIDA, a key initiative of the African Union aligned with the goals of Agenda 2063, has been pivotal in advancing regional infrastructure projects, with significant achievements highlighted in the PIDA 10-Year Implementation Report. The impact of PIDA’s projects is increasingly evident, as millions of Africans now benefit from improved access to essential services like electricity, transport, and information and communication technology (ICT).

PIDA Week 2024, organized in collaboration with the African Union Commission (AUC), the African Union Development Agency (AUDA-NEPAD), and the Federal Democratic Republic of Ethiopia, is expected to draw over 1,000 participants. Hosted under the esteemed patronage of Prime Minister Abiy Ahmed, the event coincides with Ethiopia’s Green Mobility Expo 2024, creating a vibrant week for discussing Africa’s infrastructure progress and future financing needs.

The theme for this year, “Fostering Resilient and Inclusive Infrastructure for Africa’s Sustainable Growth: Leveraging Transformative Financing and Regional Integration,” underscores the urgent need to build robust infrastructure across critical sectors, including energy, transport, water, and ICT. With a strong focus on mobilizing resources and addressing the challenges of past PIDA initiatives, the theme highlights Africa’s commitment to building a more inclusive and sustainable future.

In addition to the main theme, PIDA Week will address sub-themes promoting sustainable infrastructure, advocating for increased project financing, advancing digital infrastructure, and supporting Africa’s green economy. Knowledge-sharing sessions are also planned to showcase PIDA’s accomplishments and explore pathways for future development.

The impact of PIDA’s initiatives has been notable. Through its projects, over 30 million Africans now have access to electricity, ICT broadband penetration has exceeded 25 percent, and thousands of kilometers of road and rail links have been constructed or modernized. These infrastructure projects have also generated more than 160,000 jobs, contributing significantly to regional economic development.

The 2024 event will further strengthen PIDA’s momentum, accelerating the 69 regional infrastructure projects outlined in its second phase, which requires an annual investment of $16.1 billion. Deal rooms will provide a platform for presenting these projects, with the goal of securing financing and formalizing agreements with key stakeholders.

PIDA Week will feature addresses from prominent leaders, including Prime Minister Abiy Ahmed, African Union Commission Chairperson Moussa Faki Mahamat, AU Commissioner for Infrastructure and Energy Dr Amani Abou-Zeid, and AUDA-NEPAD CEO Nardos Bekele Thomas. Ministers responsible for transport, ICT, energy, and water from across the continent will also be in attendance, along with representatives from regional economic communities, international financing institutions, and development banks.

This influential gathering is expected to yield important outcomes, such as aligning infrastructure development with continental priorities, strengthening partnerships, exploring innovative financing models, and enhancing the capacity of stakeholders. PIDA Week 2024 marks a critical opportunity for Africa to continue building a resilient infrastructure network, laying the groundwork for sustainable growth and economic transformation across the continent.