AFRICA NEEDS $150 BILLION TO ACQUIRE 970 JETS FOR FOR THE AVIATION SECTOR - CALIPHATE MEDIA

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Thursday, 23 November 2017

AFRICA NEEDS $150 BILLION TO ACQUIRE 970 JETS FOR FOR THE AVIATION SECTOR



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Dr. Akinwumi Adesina, President of the African Development Bank (AFDB) yesterday in Abuja while speaking at the International Civil Aviation Organisation (ICAO) third International World Aviation Forum (IWAF3) said African aviation needs financing of about $150 billion needed in aircraft acquisition alone.
Dr. Adesina said with Africa’s aviation architecture as presently constructed, it would be difficult for the industry to grow, adding that African countries must make air interconnectivity seamless.
“Africa needs to procure about 970 jets and 700 turboprops over the next 20 years. Financing needs will exceed $150 billion! African aviation needs fleet modernization, efficiencies, better connectivity and much improved quality of services for an exponential growth in the number of passengers,” he stated.

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“Availability of aviation infrastructure varies across Africa. North, East and Southern Africa have established hubs in Cairo, Addis Ababa, Nairobi and Johannesburg. West Africa on the other hand, lacks a major and effective hub, something Nigeria, Côte d’Ivoire and Togo should help build.
“As the largest economy in Africa, Nigeria should lead the effort and be the integrator for regional air travel,” the AfDB president said.



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