Save the Nation were in Uganda for PAN African Conference, financing alternatives for health and road sectors beyond borrowing. There was a representative from different African Countries including Uganda.
SNA Share the best practice in Ethiopia at the conference, strategies for reducing the cost of road infrastructure projects in Africa lessons from Ethiopia.
African economies have experienced increasing levels of public borrowing to finance health and road infrastructure projects. Borrowing has become the new “quick-fix” to financing deficits since several African countries are not able to raise sufficient revenue to finance their national budgets. Public Debt has enabled several African economies to implement key projects like building express highways, maintenance, and rehabilitation existing road networks, construction, and rehabilitation of major hospitals, among others. However, the cost of acquiring such loans can prove to be an obstacle to development. The external loans are issued in foreign currency, which normally appreciates against the local currencies. This increases the cost of servicing debt and worsens the Balance of Payment position.
Save the Nation Association, Recommended for Self-Financing Road Infrastructure for Africa
During the conference emphasized SNA if we want to finance own our road infrastructure projects, we need to implement a better way of the tax collection system, and we need to reform the way of laws and practices, Transparent Procurement Procedures & strong contract negotiation; skillful engineers & Strong work culture. And…..
Addressing the road safety issues
As we know most African countries loss around 3 % of their GDP (gross domestic product) on crashes. The injuries cause considerable economic losses to individuals, their families, and nations as a whole. These losses arise from the cost of treatment as well as lost productivity for those killed or disabled by their injuries, and for family members who need to take time off work or school to care for the injured. So if we want to reduce our road infrastructure cost, we need also address the road safety issues.