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Debt waiver `meant to benefit the West`
2005-07-12 07:51:39
By Bilal Abdul-Aziz
Africa needs, from the G8 nations and the developed world, more trade and investments, not aid or debt cancellation, the continent’s regeneration lobbyist has observed.
The visiting Chief Executive Officer of the London-based RegenAfrica, Emmanuel Matthews, made the remarks in a news conference in Dar es Salaam yesterday.
’’We need to break the bulk of poverty…Africa has waited for answers to its problems from the West for so long. We need more trade, not aid,’’ said Matthews.
He said that aid and debt cancellation were meant to benefit the West, not recipient countries and warned that failure to redress the current trend the continent’s future would be bleak.
“Debts have been manufactured, created and sometimes fuelled purposely. They are issued and cancelled for their own (the West’s) interest,” Matthews said.
He challenged African leaders to play a key role in leading Africa towards its destiny, take a bold stand and push forward its renewal independently.
’’Civilization started in Africa and it has to come back. We should take our own destiny and start walking towards regeneration of Africa,’’ Matthews stressed.
He said RegenAfrica’s vision focused on empowering Africans to know their potential so that they could take own future in their hands.
In achieving the ambitious initiative, the organisation engages on changing mindsets of Africans so that they could understand the importance of regenerating their economies using local resources and initiatives not aid from abroad.
Earlier, Matthews said RegenAfrica was Britain’s first ever regeneration and development initiative, which targeted key political and business leaders and decision makers across Africa and Europe.
’’Its vision is to promote sustainable economies in Africa,’’ he added.
As part of RegenAfrica’s programs geared to disseminate its message around the world, the organisation would organise a workshop and exhibition at London’s Barbican Centre in October, he said.
He noted that the event would attract investors (governments and private), researchers, financial institutions and the general public.
The international forum would create an environment for establishing collaborations between governments, Africa’s international development partners, business and other stakeholders, he added.
Exhibiting sectors would include travel and tourism, transport, agriculture, media and broadcast, mining, power and energy, noted the CEO.
Others are oil and gas, food processing, medical, insurance, pensions and banking services.
’’This event will present an unparalleled opportunity to help foster more rapid progress in African countries by tackling the economical and political leadership issues pertinent to Africa in the 21st Century,’’ said Matthews.
’’The event will also see the launch of the RegenAfrica Magazine, the first of its kind focusing on investment in socio-economic regeneration and development opportunities in Africa,’’ he said.
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