Africa needs to first rely on internal investment if it is to achieve the infrastructure developments it urgently needs, the President of Senegal has said. “We rely on our own efforts (to mobilise) domestic resources, because of the shift in public development aid and the volatility of capital markets,” President Macky Sall said on Sunday at the Dakar Financing Summit.
The two-day regional summit of the Nepad — the New Partnership for Africa’s Development — brought together the leaders of Mali, Nigeria, and Benin, with 300 delegates from across the continent.
Closing the event on Sunday, Mr Sall called for greater integration of the economies and infrastructures of African countries, and a “paradigm shift” in the way the resources of the continent are used.
The Senegalese Head of State also said that while Africa has “certain urgent needs”, it should be seen “not as a receptacle for aid but as a place of opportunity, investment, and partnership.”
Current priority projects for Nepad, include the extension of the port in Dar es Salaam and a gas pipeline between Nigeria and Algeria.
Separately, Pope Francis denounced those getting rich through speculation in financial markets, calling on them to use their investments for the good of humanity.
“It is increasingly intolerable that financial markets are shaping the destiny of peoples rather than serving their needs.” he said.
Courtesy AFP & AGENCIES ……. Source ……… Our Freelance Contributor in Dakar