In an exclusive interview with PE TV, Mr. Edward Maloney, Managing Director of Constromart Africa, outlined critical reforms needed to strengthen infrastructure financing and delivery across states and local governments in Africa.
He identified the foremost challenges as a lack of technical capacity to structure bankable projects, weak early-stage project preparation, and an underdeveloped pipeline of viable infrastructure opportunities. “Without the right skills and systems in place, many projects never reach a level where they can attract serious financing,” he said.
Mr. Maloney stressed that the current ability of many state governments to design, fund, and execute infrastructure projects is insufficient. “The gap in technical know-how and financial resources is holding back development,” he added.
To create a more sustainable financing model, he advocated for frameworks that allow subnational governments to generate independent revenue—through instruments like property taxes, user fees, and well-structured public-private partnerships. He also emphasized the need for targeted capacity-building programs to develop technical and managerial expertise at the state and local levels.
Speaking on recent policy developments, he highlighted the role of the Office of the Vice President, particularly through the Presidential Enabling Business Environment Council (PEBEC), in improving Nigeria’s investment climate. He noted that new frameworks are being developed to de-risk subnational infrastructure investments. “By simplifying regulatory processes and promoting transparency, PEBEC is helping lay the foundation for more investor-friendly conditions,” he stated.
Mr. Maloney also underscored the importance of clear land administration systems, efficient procurement processes, and continuity in project implementation as key drivers of investor confidence. “Investors need clarity and consistency. Without that, capital will always flow elsewhere,” he warned.
He described blended finance and results-based financing as game-changing tools for states with constrained budgets. “Blended finance helps use limited public funds to attract private capital, while results-based financing ensures accountability—funds are only released when there’s measurable progress. It’s a powerful combination,” he explained.
To ensure that local government areas (LGAs) are included in the national infrastructure conversation, Mr. Maloney called for greater autonomy and improved technical capacity at the local level. “Many LGAs lack both the authority and the skillsets to engage in infrastructure financing. We must empower them with the tools, training, and access to funding they need,” he urged.
He emphasized that intergovernmental collaboration is essential to success. “Infrastructure projects don’t stop at administrative borders. When federal, state, and local governments collaborate, they can align policies, pool resources, and attract major investment,” he said. “Collaboration is the new innovation.”
While digital governance tools are being embraced at the federal level, Mr. Maloney noted that their adoption at the subnational level remains slow. Nonetheless, he expressed confidence that improved efficiency at the top will eventually drive wider adoption at lower levels, enhancing transparency and service delivery.
In conclusion, he identified three critical reforms needed to transform the subnational investment landscape: strengthening state-level technical capacity, investing in project preparation, and granting LGAs the autonomy to mobilize private capital and lead their own development agendas.
Source : Joycelyn Marigold, Property Express Magazine
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