According to a report issued by the Urban Transformation Coalition, which advises governments on economic development and climate change, Africa is the continent with the fastest urbanization rate and the continent most affected by global warming. "Africa's urban development may face unprecedented biophysical risks," the organization said. "Three pillars are essential for low-carbon, climate-resilient urban development: compact urban growth, interconnected infrastructure, and clean technology."

In recent years, unusually strong cyclones have hit the southeast coast of the African continent, drought has dried up southern Africa, and floods and landslides have plagued the Horn of Africa. Cape Town, South Africa's second largest city, almost ran out of water in 2018.

Urban wave

According to the report, the urban population in Africa increased 20-fold between 1950 and 2015, reaching approximately 567 million, which makes "efficient and inclusive urban planning extremely difficult." By 2050, it is estimated that 950 million people will live in African cities. The report found that South Africa will need US$215 billion in urban investment, Kenya needs US$27 billion, and Ethiopia needs US$42 billion.

Although this is a huge sum of money, the investment in each of the 35 centers with more than 250,000 residents will bring about 1.1 trillion US dollars of income, of which Johannesburg is 260 billion US dollars and Nairobi is 100 billion US dollars.

The organization stated that the entire African continent will require trillions of dollars in investment. It stated that obstacles to raising funds include weak municipal credit and inefficient taxation mechanisms. Large-scale financial mobilization will require rapid reform of the regulatory and financial framework and policies to release investment in cities. (For reprinting, please indicate see www.seetao.com) Seetao.com strategy column editor/Xu Shengpeng