Forum aims to Drive Investment into Africa’s Transport Sector
Event to showcase continent’s expansion plans on ports, rail, and road networks for efficient trade corridors.
The African transport and logistics sector, driven by technology and innovation, is key to bringing countries together and supporting their economies.
According to the World Bank, trade between African countries represents only 12% of economic activity in the region compared with 60% in Europe and 40% in Asia, showing potential for investment in transport and logistics.
The South African government has committed R791.2 billion toward infrastructure development in the medium term and has announced 15 projects worth R47 billion in the transport sector alone.
Transport Evolution Africa Forum and Expo, at the Inkosi Albert Luthuli ICC Complex (Durban ICC), South Africa, on 28 and 29 September 2022, brings ports, rail, and road together to plot the roadmap to the future of transportation in Africa.
“We have seven events under one roof, with over 50 port, rail, and road authorities, 3 500 transport professionals, and 100 exhibitors. And this coming year, we are excited to launch the African Transport Performance Scorecard (ATEPS), which will be a comprehensive annual progress measurement report,” said Le-Ann Hare, Portfolio Director for Transport Evolution at dmg events, organisers of the Forum and Expo, in a press release.
She said other highlights for 2022 include the launch of Trade and Logistics Evolution Africa – a two-day track, the Women in Transport Awards, and the Transport Evolution Learning Academy.
A gathering of sector CEOs is expected to discuss building robust transport corridors into Africa.
“A co-located event with the Transport Africa Forum and Expo is The Big 5 Construct KZN which will facilitate dialogue around infrastructure at the core of re-stimulating the South African economy. The South African National Roads Agency (SANRAL) has alone committed R19billion to develop 13 roads, creating nearly 10,000 jobs during construction,” Hare said.
As activity in transport and logistics picks up across Africa post-COVID-19, the sector’s GDP contribution is expected to grow from R349billion in the first quarter of 2022 to R363 billion by 2024, an increase of 3.7%, underlining the investment potential over the next two years.
Funding directed at African transport and logistics companies surpassed the US$200 million (R3.2 billion) recorded last year, and the forum is set to increase potential funding and investment significantly in the medium term.
Top Photo (provided by Transport Evolution African Forum & Expo | transportevolution.com)
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