Kagame Roots For Concrete Actions To Break Africa’s “Resource Curse”


visit this site geneva;”>”We need to adopt long-term strategies for industrialisation and manufacturing particularly in areas that will add value to our products, ” said Kagame, adding, “Africans are ready, there is a changing mindset and optimism, but this must be accompanied by concrete actions and results.”

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Kagame made the remarks Tuesday in a keynote speech at the 48th Annual Meeting of the African Development Bank Group (AfDB) in Marrakech, Morocco.

The meeting will see about 2500 delegates including Heads of State, finance Ministers and Central Bank Governors discuss major African development issues and focus on the need for Africa to turn economic growth into truly shared and sustainable economic transformation in the next half century.

Organized under the theme, “Africa’s Structural Transformation,” the gathering will review the Bank’s 2012 operations and its 2013 development funding portfolio.

Members will further discuss challenges facing key areas such as climate change, infrastructure, private sector and governance.

Critics say Africa has been wallowing in poverty, disease and conflict due to the far-reaching effects of colonialism and poor governance among other reasons which have bred instability.

Kagame said agriculture remains a crucial cornerstone to Africa’s economic transformation.

“Agriculture must however be treated as a business and not just a subsistence activity,” he noted.

The President maintained that sustaining today’s good progress shall require a strong commitment and drive towards deepening economic integration.

“We must refuse the notion of the so-called “resource curse.” It is evident that meaningful economic growth must be reflected in the human and physical development of our continent,” said Kagame, adding, “The task ahead for African countries is to shape this link between growth and socio-economic transformation of our societies.”

Kagame, who has won international admiration for structural reforms that have pulled millions out of poverty in the aftermath of the 1994 genocide, said “the issue facing us (leaders) is how to scale and spread the benefits of the prevailing growth to all the citizens and sustain it.”

He emphasized that leaders and policy-makers in Africa must leverage opportunities to build a stronger foundation for broad and inclusive growth.

“This trend is likely to continue in the medium term. Nobody should take the unfolding progress for granted. There is no doubt that African economies have been growing at a consistently high rate for the last decade,” he assured the gathering.

Earlier, AfDB President Donald Kaberuka said it took Britain 150 years to double its GDP yet “it has taken Africa 12 years to do the same.”

“Africa is rising, and it needs a push. The rest of the world is languishing, and it too needs a push. Africa needs the world, and the world needs Africa. Each can give the other a push,” said Kaberuka.

According to the AfDB, Africa’s challenge is to bring its extraordinary progress of the last decade to scale are: a critical lack of infrastructure – transport, energy, water, telecommunications – which is the basis for all growth; a lack of regional economic integration between what are still fragmented national markets; and the pockets of serious fragility that still persist across the continent.


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