AfDB: invest in African infrastructure

GOVERNMENT

|
Image: Donald Kaberuka. By AfDB
Donald Kaberuka

The President of the African Development Bank Group has challenged African countries to remove some of their reserves from European and American banks and invest in infrastructure projects for Africa.

AfDB President Donald Kaberuka was speaking at the 32nd Summit of the Heads of State and Government of the Southern African Development Community (SADC), held in Maputo, Mozambique.

Fourteen heads of state from Angola to Zimbabwe attended the summit, along with Dr. Nkosazana Dlamini-Zuma, South African Minister of Home Affairs and incoming Chairperson of the African Union Commission, and H.E. Joachim Alberto Chissano, former president of Mozambique and SADC mediator on the conflict in Madagascar.  

Kaberuka challenged African countries to remove some of their reserves from European and American banks and invest in infrastructure projects for Africa, particularly for the SADC Region. To this end, Kaberuka proposed that each Central African Bank invest 5% of its reserves in an African Infrastructure Bond. 

“Fifty years of aid or development cooperation as it is sometimes called must have taught us many things,” Kaberuka told the summit. “Most important of all: Africa’s future must depend on its ability to fund its development from a whole range of sources."

“As the world gets more complicated, and multilateral solutions get weaker and weaker, we need more home grown domestic solutions,” Kaberuka added. “Africa, united, is on the brink of a breakthrough.”



Share the News

Get Daily Newsletter

comments powered by Disqus

MORE GOVERNMENT NEWS

Minister warns about social media

A junior minister has advised Batswana to be very cautious of the now popular social media, saying it has become a scourge and harbinger of many criminal acts including terrorism.  Read More

Which African president has the best website?

The presidency of Togo, a tiny West African nation of six million people, has the best presidential website in Africa out of the 40 countries surveyed by Jeune Afrique magazine. Read More

Multimillion Kwacha IT traffic project questioned

Players in the transport system have questioned the Malawi government’s decision to settle for MOVESA and Fischer Consortium as the eligible bidder to upgrade of the Malawi Traffic Information System (Maltis). Read More

Statistics Botswana conducts ICT survey

Statistics Botswana (SB) has embarked on the first-ever nationwide Botswana Information & Communication Technology (ICT) survey, targeting 2,440 households.  Read More

Rwanda Online platform officially takes off

The Government of Rwanda and Rwanda Online Platform Limited have kicked off the first phase of the Rwanda Online platform, set to establish an integrated public service platform for Government to Business and Government to Citizen services.  Read More

Congo Brazzaville, Cameroon customs go hi-tech

Congo-Brazzaville and Cameroon have agreed to seek the help of ICTs to computerise their customs services. Read More

Candidates decry lack of internet in villages

Aspiring parliamentary candidates have decried lack of technology in the villages bordering the urban spaces and beyond.  Read More

COFEK supports Matiangi over impeachment calls

The Consumers Federation of Kenya (COFEK) has defended Ministry of ICT cabinet secretary Dr Fred Matiangi after the ICT Association of Kenya (ICTAK) called for him to be impeached. Read More

Congo-Brazzaville invests over US$200m in ICTs

Oil-rich Congo-Brazzaville has invested more than 100-billion FCFA (about US$204-million) in the past few years in the information and communication technologies (ICT) sector. Read More

NITDA seeks creation of state-level SITDAs

Nigeria's National Information Technology Development Agency has called for the creation of its equivalent at state level. Read More

PRESS OFFICES

Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionSage HR AfricaMTN BusinessSchneider ElectricMultichoice

FEATURED STORY

Nigeria’s VAS providers ‘on brink of extinction’Nigeria’s VAS providers ‘on brink of extinction’

WASPAN chief Simon Aderinlola says unless the regulator intervenes, WASPAN may not have anything left to regulate. Kokumo Goodie reports.

IN DEPTH

Kenya rolls out e-extension to improve agricultureKenya rolls out e-extension to improve agriculture

In a bid to curb the overwhelmed number of agricultural extension officers in Kenya, the ministry of agriculture is embracing technology with their introduction of E-Extension services, which are aimed at reaching out to over 7 million farmers annually.

COMPANY NEWS

Sage CRM is Umsinsi Health Care’s engine for growth

Umsinsi Health Care, a distributor of medical products, has enhanced customer service and streamlined its business processes by implementing Sage CRM as its customer relationship management platform. 

VMware delivers new innovations for the open, agile, secure software-defined data centre

Industry’s most complete software-defined data centre portfolio helps customers slash CAPEX by nearly 50 percent and improve IT productivity by 100 percent or more.

Alex families receive Schneider Electric solar lamps

Schneider Electric, a specialist in energy management, has partnered with Rays of Hope, a non-profit organisation, providing 28 schoolchildren and their families in the northern Johannesburg township of ...