Africa needs affordable capital for infrastructure — Oyedele

The Minister of Finance and Coordinating Minister of the Economy, Mr Taiwo Oyedele, has called for a shift in the global approach to financing Africa's development. He made the call at the United Nations Dialogue on Solutions to Climate Finance, held on the margins of the 81st Session of the United Nations General Assembly in New York. According to a statement by the Ministry of Finance, Oyedele said high financing costs, currency risks and limited access to long-term capital were constraining Africa's development ambitions. He noted that the financing challenges were particularly acute in the energy sector, where massive investment is required.

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