The Infrastructure Report by Coronation Group, an African financial service, has highlighted private sector participation in funding infrastructure projects as a catalyst for economic growth and societal advancement.

Aigbovbioise Aig-Imoukhuede, managing director of Coronation Asset Management, said at the unveiling of the maiden edition of the report on Thursday in Lagos that private sector investment remained necessary, especially in an environment where public resources were often limited.

The infrastructure report revealed how private sector investment reshaped the infrastructure development landscape.

It emphasised the imperative of private sector participation in funding infrastructure projects and underscored the pivotal role that infrastructure investments play in driving economic growth and societal advancement.

The report also identified the key challenges and opportunities within infrastructure development, providing invaluable insights to stakeholders.

The report navigated through a spectrum of sectors, offering practical solutions and best practices to propel progress forward, from ageing infrastructure to emerging technologies.

Mr Aig-Imoukhuede described the significance of the maiden Coronation Infrastructure Report as a pivotal moment in fostering dialogue on infrastructure financing across Africa.

“With infrastructure playing a critical role in driving economic growth and societal development, the report catalyses informed discussions.

“By shedding light on the challenges and opportunities in infrastructure financing, it lays the groundwork for efforts to address Africa’s infrastructure needs and unlock its full potential,” he said.

Guy Czartoryski, head of research at Coronation, highlighted the profound commitment embedded within the report to deliver comprehensive insights into the infrastructure investment landscape.

“By meticulously analysing the intricate dynamics of infrastructure investments, the report serves as a beacon of knowledge, guiding stakeholders through the complexities of infrastructure financing across the continent,” he said. 

(NAN)