The Africa Business Forum closed in London today with a strong message to the G8 to stand and fulfill its official development assistance to the continent.
Chairman of the Africa Business Council (CBC), Dr Mohan Kaul said the economy of Africa will be kept afloat not by donor aid but infrastructure development in key sectors such as roads, energy and agriculture.
Closing the two-day forum and announcing the recommendations of the Forum, which was attended by Vice-president George Kunda, Dr Kaul stressed the need for the developed world to continue supporting the development efforts of the continent.
Dr Kaul announced that British Prime Minister, Gordon Brown, has agreed to carry the principle recommendations of the Forum to the G8 summit which opens this week in Italy in order to effectively plead Africa’s case.
The Forum, which was attended by over 400 business and government leaders, observed in its message to the G8 that Africa has made huge strides in economic performance and good governance, with growth being steady at 5 per cent amid more economic actors, especially from Asia.
However, the business and government leaders warned that the collapse of international capital markets, falling national incomes and the ever sky-rocketing cost of food and energy is threatening to put Africa’s economic development in reverse gear.
The meeting has since urged the G8 and other major economies to take the lead in tackling the immediate effects of increased costs, stabilising financial flow and regenerating trade.
In that vein, the Forum also called on the G8 to actively support African governments in order to create the best conditions for business and investment.
The Forum observed that enterprises and private sector investments were among the sustainable drivers for growth in Africa and other emerging markets.
African leaders have also been urged to avoid protectionist policies that could damage Africa’s economic achievements .
ZANIS
Zuma on his first G8 meeting.GO Zuma!
the economy of Africa will be kept afloat not by donor aid but infrastructure development in key sectors such as roads, energy and agriculture- EYA NI APOPENE BANE
We cannot keep on relying on the G8 forever, we must begin to live up our so-called independence.
we are in this mess becuse of the G8. “Get them in debt” has been a slogan used by this powerful elite, to control individuals and entire nations.The G8 proposal involves the selling out of sovereignty of every nation on earth.
INTERDEPENDENCE (Global village) is a catch word.With careful use of language, the public can be conned into believing that this is ultimately a good move .
Yes we cannot continue to rely on foreign aid and investment. What Africa needs is to clean up its systems of government, which are corrupt and inefficient. I would not support more funding to corrupt government. Africa needs a complete overhaul in leadership.
We need to empower our people and allow for them to be educated and end the thinking that European and American are better than African. We need to trust our own people to develop our continent. Local investors also need to improve on their service delivery and quality of products. This can only happen if we support them. African can and will only be developed by African, There is always a catch to aid and investment that we receive from the West. What it does also is to make Africa forever dependent on the West, for finished goods, education, research and service. We need to change the way we think and believe we can develop beyond what convention dictates.
Kat #5 – I totally agree with you, you are 100% right. African governments including Zambia are too corrupt, they have been receiving aid year in and year out but ends in the so called leaders’ pockets, e.g. at our own Ministry of Health.
We do not need any outsider money in Africa. if only we can use what we have for wisely we will be fine. any outside money just end up in chilubas pocket, mwanawasas pocket and now RB!