“Political stability, the key to security for growth in Africa”

0

JOHANNESBURG

African countries must maintain political stability and security if they are to attract investors to invest capital in their economies, the South African president said on Monday.

“Most of the economic progress of recent years has been made possible by changes in the political sphere. Global investor surveys consistently highlight political stability and security as important considerations for capital engagement, ”said Cyril Ramaphosa at the opening ceremony of the 2nd Africa Investment Forum in Johannesburg.

Ramaphosa said 2019 had been “a good year for consolidating democracy” across the continent, which he said would give investors confidence to inject more funds into the continent to help propel its economic growth.

“National, presidential and parliamentary elections have taken place in Botswana, Malawi, Mauritania, Namibia, Nigeria, Mozambique and right here in South Africa. [in 2019], he recalls.

The South African leader said every successful election challenges the idea that Africa is unstable and a risky place to invest.

“Political stability in many African countries has enabled us to industrialize and pursue development policies that have lifted millions of people out of abject poverty, resulting in increased income levels,” he added.

The annual investment forum brought together African governments, sovereign wealth funds, the private sector, financial intermediaries, among others, to find ways to unlock the continent’s untapped economic potential.

“The Africa Investment Forum is designed to be a transformative platform for transactions across the continent,” said Chinelo Anohu, Managing Director of the Africa Investment Forum, quoted by the African Development Bank Group (AfDB ).

“This [the forum] It is a continuous process of developing agreements, preparing projects, closing agreements, meeting boards of directors, but above all ensuring that these agreements really have an impact on the continent ”, he added. he added.

Last year, 350 investors from 53 countries participated in the forum, which is fast becoming the premier platform for engagement on Africa’s growth and development.

Last year’s forum mobilized funding for numerous development projects and initiatives on the continent, including the Accra sky train, the innovation city of Kigali and the first rail-road bridge project connecting Kinshasa , the capital of the Democratic Republic of the Congo, in Brazzaville, the capital of the Republic of the Congo.

The second edition of the forum, organized by the African Development Bank and its partners, will end on November 13.

The Anadolu Agency website contains only a portion of the stories offered to subscribers in the AA News Distribution System (HAS), and in summary form. Please contact us for subscription options.


Source link

Share.

Leave A Reply