A surge in investment in western Africa's petroleum sector is converging with a political and economic push to expand U.S. and European trade with the region. Combined, the two forces will accelerate a trend in transportation infrastructure, especially port modernization and expansion, in the coming decade.
Analysis
A growing need by Western governments -- especially the United States -- to reduce their dependence on Middle Eastern oil is leading foreign investors to refocus their attention on western Africa. A boom in offshore oil discoveries, the end of the civil war in Angola and the winding down of many conflicts there are also making
A growing need by Western governments -- especially the United States -- to reduce their dependence on Middle Eastern oil is leading foreign investors to refocus their attention on western Africa. A boom in offshore oil discoveries, the end of the civil war in Angola and the winding down of many conflicts there are also making
the region more attractive.
For the last decade, trade between sub-Saharan Africa and Europe and the United States has grown consistently. This growth and an oil boom in the region -- combined with the current U.S. fears about Middle East instability -- will fuel a drive for African infrastructure development, especially port investment and modernization, concentrated particularly in U.S. trading partners on the Atlantic littoral.
Modern and well-developed logistical infrastructure is necessary to support expanded trade between African states and Asian, European and U.S. companies.
For the last decade, trade between sub-Saharan Africa and Europe and the United States has grown consistently. This growth and an oil boom in the region -- combined with the current U.S. fears about Middle East instability -- will fuel a drive for African infrastructure development, especially port investment and modernization, concentrated particularly in U.S. trading partners on the Atlantic littoral.
Modern and well-developed logistical infrastructure is necessary to support expanded trade between African states and Asian, European and U.S. companies.