Global Investment and Development in Africa

Samuel Chukwujindu Nwokolo, Rubee Singh, Shahbaz Khan, Anil Kumar and Sunil Luthra
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Samuel Chukwujindu Nwokolo: University of Calabar
Rubee Singh: GLA University
Shahbaz Khan: GLA University
Anil Kumar: London Metropolitan University
Sunil Luthra: All India Council for Technical Education (AICTE)

Chapter Chapter 2 in Africa's Path to Net-Zero, 2023, pp 15-58 from Springer

Abstract: Abstract Africa has benefited from increased economic growth, improved infrastructure, an increase in the average standard of living, and improved access to healthcare, education, and other essential services as a result of global investment and development. This has allowed African nations to experience greater economic stability, prosperity, and integration into the global economy than would have been possible without foreign investment and development. However, in this era of global warming and climate change, Africa requires more foreign investment to catch up with the global agenda for a net zero transition based on sustainable energy. This is because the majority of African countries lack the necessary resources and technology to make the transition on their own. In addition, Africa’s population is expected to double by 2050, putting even more pressure on the continent’s already strained resources. Therefore, it is crucial that foreign investment in Africa focus on sustainable energy development and infrastructure projects that will enable the continent to meet its energy needs while also reducing its carbon footprint. This will not only benefit Africa but also contribute to global efforts to combat climate change. To achieve this goal, international cooperation and partnerships between African countries and foreign investors are essential. By working together toward a common goal of sustainable development, we can ensure a brighter future for Africa and the world as a whole.

Date: 2023
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DOI: 10.1007/978-3-031-44514-9_2

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