The African Development Bank (AfDB) said this week, it has invested more than $50 billion in infrastructure over the past decade.
In SouthernAfrica, the Bank funded the Mozambique-Beira Corridor, key in the reduction of costs in transporting goods for Mozambique, Zimbabwe and Zambia.
The Bank has also funded the North-South Corridor, to strengthen links in the Great Lakes region and the integration of the Southern African Development Community (SADC), which includes the Nacala Corridor.
This alone is a $2.7 billion Nacala rail and port
logistics mega-project, linking Mozambique and Malawi.
AfDB also said these projects have played a major role in boosting trade in the Southern Africa Region (SADC).
Dr Akinwumi Adesina, President of the African Development Bank Group, said “it is only via regional corridors that we will be able to move goods and services easily across the continent, reduce transport costs, encourage integration and achieve effective economic development.”