The Africa Investment Forum (AIF), scheduled for this December in Morocco, served as a platform for the African Development Bank and its partners to reaffirm their commitment to investing in regional corridors. Leaders engaged in dynamic discussions regarding the concrete steps their countries and organizations are taking to enhance regional connectivity and presented exemplary projects aimed at fostering deeper integration across Africa.

Nardos Bekele-Thomas, CEO of AUDA-NEPAD, highlighted the Chirundu one-stop border post connecting Zambia and Zimbabwe as a notable success story. This initiative has remarkably reduced cargo clearance times from over 48 hours in 2022 to less than 14 hours in 2024—an incredible decrease of 60%. In a similar vein, the Cinkansé one-stop border post that links Burkina Faso and Togo has slashed border crossing times from 2-3 days to just 1-2 hours.

“Our integrated corridor strategy focuses on transportation, energy, digital connectivity, and industrial clusters, while also prioritizing job creation, urban-rural connectivity, and climate resilience. Connecting Africa empowers Africa,” she noted during the AIF’s concluding ceremony.

Samaila Zubairu, CEO of the African Finance Corporation, shared his excitement over the swift progress of projects aimed at enhancing connectivity, specifically mentioning the Lobito corridor in Angola. “The Lobito Corridor is a prime example of a project for which we signed the MoU just a year ago, and it has advanced swiftly,” he remarked.

Key projects taking shape

The Lobito Corridor, which involves an estimated investment of $10 billion, encompasses railways, roads, bridges, telecommunications, energy, and agribusiness ventures. Major stakeholders in this project include the African Development Bank, which has committed around $500 million, the African Finance Corporation as the primary Project Developer, and the Development Bank of Southern Africa leading the initial project phase.

It is projected that this corridor will create thousands of jobs and enhance regional integration among Angola, the Democratic Republic of Congo, and Zambia. In October 2023, global partners including the United States and the European Commission formalized a Memorandum of Understanding to rally support for the Lobito Corridor.

Another pivotal project on the horizon is the ambitious Abidjan-Lagos Highway Corridor, with construction set to begin in 2026. This transcontinental coastal highway, extending 1,028 km, will link Côte d’Ivoire, Ghana, Togo, Benin, and Nigeria, crafting an economic corridor expected to boost regional trade and development.

The initiative gained substantial momentum at the 2022 AIF Market Days, attracting $15.6 billion in investment interest. The African Development Bank has already allocated $25 million to accelerate the preparatory phase of this vital corridor.

Upon completion, the highway will feature a carriageway of four to six lanes, expanding to eight lanes in Lagos. It will connect key economic centers, including Abidjan, Takoradi, Accra, Lomé, Cotonou, Porto-Novo, and Lagos—areas projected to host 173 million urban residents by 2050. The route from Abidjan to Lagos currently accommodates 75% of West Africa’s commercial activities, underscoring the project’s strategic importance.

Crucially, the project encompasses more than mere transportation. The Spatial Development Initiative, backed by the African Development Bank, has identified various specific interventions that will require approximately $6.8 billion in investments, targeting sectors such as renewable energy, manufacturing, and agriculture. These initiatives are anticipated to yield $16 billion in additional economic benefits and create over 60,000 direct and 70,000 indirect job opportunities.

Connecting Africa to the world

To truly unlock its economic potential, Africa must ensure that its nations are not only interconnected but also well integrated into the global economy, asserted Leila Benali, Moroccan Minister of Energy Transition and Sustainable Development.

Benali underscored Morocco’s pivotal role as a bridge between Africa and the wider world. She noted that the national sustainability strategy aims to enhance Morocco’s status as a key link between Africa, Europe, and the Atlantic Basin, emphasizing the necessity of investments in the nation’s clean energy infrastructure to unlock the continent’s potential. “Morocco will serve as a corridor connecting Europe and Africa,” she affirmed.