Africa must find novel path to address infrastructure deficit

President Nana Addo Dankwa Akufo-Addo says Africa’s future is dependent on the continent “thinking outside the box” to address and finance its infrastructural deficits.

He said given the projection that one in four people would be African by 2050, there was an urgent need for the Continent to find a novel instrument to fund the continent’s infrastructure.

Contributing to a panel discussion at the UK-Africa Investment Summit in London, the President pointed out that despite Africa’s undisputed wealth “we have gotten ourselves into a situation, where now the infrastructure is also undeveloped”.

It was therefore time the continent exploited its immense potential, sought the path of sustainable development, participated actively in the world economy, and shunned the age-old dependence on development aid and debt-relief.

“Nobody is looking for gifts or charity, but we are saying that if there is equity in the way most people look at it, the means for being able to address the deficits and the difficulties exist,” he told the gathering.

“And I think that the London stock exchange can play a really significant and important role in this new thinking.

“That, in my view, is absolutely important for the future of the continent and for our relations with countries like Britain.”

Source: GNA