Africa must find novel path to address infrastructure deficit

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

He pointed out that with the projection that one in four people would be African by 2050, there is urgent need for the continent to find a novel instrument to fund Africa’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”.

To him, it is time for the continent to exploit its immense potential, seek the path of sustainable development and participate actively in the world economy, and shun 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 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 our relations with countries like Britain.”

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