This article examines the infrastructure deficit and financing needs in Africa within the context of the Post‐2015 Development Agenda. The article explains the extent of the infrastructure deficit across key categories and regions of Africa. The constraints and impact of the infrastructure deficit are discussed, especially the impact on productivity and growth. Innovative sources of funding are also discussed. The article shows the link between infrastructure development and poverty reduction, the current MDGs, and the post‐2015 MDG agenda. The article concludes by arguing that an agenda for infrastructure development is coterminous with that of achieving the MDGs and poverty reduction.