AfDB: invest in African infrastructure


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


Empresa Nacional de Telecomunicações Moçambique selects Intelsat to extend broadband services

Empresa Nacional de Telecomunicações de Moçambique has renewed its relationship with Intelsat S.A. for satellite solutions that will help the company deliver broadband connectivity to corporate networks and provide cellular backhaul services to support remote areas of Mozambique. Read More

Mozambique, SA parks collaborate using digital radio system to combat poaching

Mozambique’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 2015

Google 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 company

Movitel, 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 Mozambique

SOFGEN 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 Flytxt

Flytxt, 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 Internet

Mozambique 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 centre

Construction 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 Africa

Japanese 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 Mozambique

Based 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


Sage ERP AfricaSAP AfricaSage Pastel AccountingTrust PayVMWareSamsung ElectronicsMitsumi DistributionPhoenix DistributionMTN BusinessSchneider ElectricMultichoiceMicrosoft 4Afrika


Connectivity critical for Nigeria's ICT sector, says SES chiefConnectivity critical for Nigeria's ICT sector, says SES chief

Connectivity is vital for any country to fully optimise the huge potential of cyberspace, SES Sales Manager for West Africa Joy Nma Emenike tells Kokumo Goodie.


High tech homes: Just press playHigh tech homes: Just press play

High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.