Kagame, Museveni root for African economic integration, investment

September 6, 2016 in Business, Companies, Foreign News by Editor

KAMPALA, SEPTEMBER 5 – Intentions must be matched by results and tangible benefits before ordinary citizens and independent actors can buy into the notion of African economic integration despite its immense potential argues Rwandan President Paul Kagame while his Ugandan counterpart Yoweri Museveni says integration is a stimulus for growth because to achieve prosperity countries need to both internal and external markets.

Speaking on the opening day of the Global African Investment Summit that was jointly organised by the Common Market for Eastern and South Africa COMESA, and the Government of Rwanda, Kagame observed that “good momentum and tangible results,” would do more to increase support for integration, “than any amount of closed-door negotiations among technical experts.”

“Africa cannot just remain a story, about huge potential, that never materialises. Something has to give.
Postponing our priorities and delaying our commitments are the most expensive mistakes that Africa can make,” Kagame said adding; “there is nothing we are waiting for, and nothing we lack. Let’s work together across sectors and borders with the right mindset of urgency, and build the Africa we want”.

Museveni said Africa also has the resources to finance its development. “We are handling the bottle necks in Africa with our own money – because we have quite a lot of money now,” he said.

The Global African Investment Summit seeks to attract investment into Africa’s social sector by leveraging education and ICT’s.

Attended by heads of state, representatives of pension funds, asset management companies, private equity and sovereign wealth funds, the summit hopes to move “beyond the conventional ‘Africa on the rise’ conversation, creating a business platform that provides delegates with tangible opportunities to establish relationships and engage with senior government representatives,” says Summit Director Paul Sinclair.