AMN - Investment and infrastructure will grow Africa - comment by Yolanda Torrisi

This year’s Africa Mining Indaba had a strong focus on improving regulation and investment in Africa's infrastructure. Those who focused on this topic all referred to these two essential ingredients for South Africa to become a greater contender on the international playing field.

Mineral Resources Minister Mosebenzi Zwane, has regularly spoken that regulatory certainty is necessary for Africa to grow.

Minister Zwane says a lack of infrastructure investment is holding Africa back, and that improvements in financial services are needed to help facilitate better lines of credit to back any future growth plans.

South Africa is spearheading some initiatives and has in place bilateral agreements with China, India and Brazil.

Meanwhile, China has conceded that it needs to have a well-established partnership with Africa to ensure its future growth. At the end of 2014 China had pumped $101 billion into Africa's infrastructure and will add a further $60 billion over the next three years to continue to build its friendship with this continent that will give it a pipeline of raw materials.

The move is all part of China's 2013 initiative ‘one belt, one road’ in which the world's second largest economy looks to secure future natural resource supply by investing heavily in countries which lack decent infrastructure.

China's National Ministry of Land and Resources deputy associate researcher Caisheng Zhao says that China will continue to fund Africa's development, and seize opportunities as they arise.

The competition between and China and India is becoming more intense. India is pledging its own allegiance to Africa and has a desire to help get a share of the continent’s vast natural resources.

India Ministry of Mines secretary Balvinder Kumar says that the country is now on track to overtake China as the world's number two economy after the US and that by improving its own mining regulation is well placed to help Africa grow.

- Yolanda Torrisi is Chairperson of The African Mining Network and comments on African mining issues and the growing global interest in the African continent. Contact:yolanda@yolandatorrisi.com