Top Africa Money Manager Sees Private Capital Fixing Funding Gap

Africa’s largest money manager sees private capital as key to narrowing the continent’s $100 billion annual infrastructure-financing gap, critical to boosting economic growth and lifting millions out of poverty.

A new report by the Public Investment Corp., which oversees about 3 trillion rand ($171 billion) in South African state-worker pension funds, shows the continent needs as much as $170 billion every year to build power, water, transport and digital networks, with a persistent $100 billion financing gap, leaving swaths of the continent under-served.