AfDB: invest in African infrastructure
MOZAMBIQUE| Aug. 23, 2012, 10:51 a.m.
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.”
MORE MOZAMBIQUE NEWS
Mozambique, SA parks collaborate using digital radio system to combat poachingMozambique’s Ministry of Tourism and South Africa’s Peace Parks Foundation are collaborating in a 2.1 million Euro project, which includes a digital radio network upgrade, to combat rhino poaching. Read More
Mozambican developer groups to step up activities in 2015Google Developer Groups in Mozambique say they have pegged 2015 as the year to step up activities to boost app development in the country. Read More
Viettel Mozambique named fastest-growing MEA companyMovitel, a subsidiary of Viettel Group in Mozambique, has been named Gold Winner of “Fastest Growing of the Year in Middle-East and Africa” Award. Read More
SOFGEN activity monitor goes live at Standard Bank MozambiqueSOFGEN Holdings Limited has announced the successful installation of its flagship Temenos T24 system monitoring software, SOFGEN Activity Monitor (SAM) at Standard Bank in Mozambique. Read More
Vodacom Mozambique partners with FlytxtFlytxt, a Big Data analytics solution provider for Communication Service Providers, has announced a strategic tie up with Vodacom, Mozambique’s leading mobile network. Read More
Mozambique joins Alliance for Affordable InternetMozambique has become the first SADC country to join A4AI, and the third developing country to sign an MOU with the Alliance, joining Nigeria and Ghana. Read More
Construction underway on Mozambican govt data centreConstruction is underway on the Mozambican government’s data centre, set to support the e-Government service delivery plan. Read More
Japanese PM set to visit AfricaJapanese Prime Minister Shinzo Abe is reported to be preparing to visit Africa and the Middle East this week. Read More
Frost & Sullivan applauds Movitel for extending mobile to rural MozambiqueBased on its recent research on the mobile communications market, Frost & Sullivan has presented Movitel with the 2013 Mozambican Frost & Sullivan Award for Competitive Strategy Leadership. Read More
FEATURED STORYThe transformative power of affordable smartphones and unlimited data in Ghana
Smartphones are helping transform their lives of ordinary people in Ghana, Reports Nana Appiah Acquaye.
BEST READ NEWS
IN DEPTHNIMC infrastructure must be managed by credible people: NIMC chief
NIMC’s chief speaks to Kokumo Goodie about the role of the NIMC and his own legacy.