Ghana and 3 other countries will increase infrastructure spending to $96bn by 2050. Aggregate annual spending across Ghana, Kenya, Nigeria, and South Africa is projected to increase from $54 billion in 2024 to $96 billion in 2050, a 77% increase.
This growth is driven by demographic change and urbanisation.
Africa will experience the fastest annual growth in infrastructure spending of any region over the 25-year forecast period. The continent is expected to add more than 800 million urban residents by 2050, and the number of megacities will triple. Spending on transport infrastructure, the largest sector, is projected to more than double as trade corridors expand.
This growth fits into the broader Ghana economic story, with the country seeking to improve its infrastructure to drive economic growth. According to the Ghana Statistical Service, the country's infrastructure sector has been growing rapidly in recent years, with the sector contributing 12.4% to GDP in 2022.
The growth in infrastructure spending is expected to have a positive impact on the economy, with the potential to create jobs and increase economic activity.
According to the PwC Global Infrastructure Outlook 2026, "we expect the next 25 years to be defined by an unprecedented surge in global infrastructure investment. But there's no guarantee the required levels of spending will materialise."
The report highlights the need for a strategic, system-wide approach to unlock value and overcome constraints. This includes embedding long-term strategic planning, establishing stable regulatory environments, and streamlining planning and regulatory approval processes.
The implications of this growth are significant, with the potential to drive economic growth and create jobs. However, there are also challenges to be addressed, including the need for effective and efficient collaboration between governments and the private sector.
The report advises considering combining data centre campuses with clean power purchase agreements and water reuse, and innovating financing and partnership mechanisms to unlock funding without increasing public debt.