Africa’s growth is a development story: Canada - CNBC Africa

Africa’s growth is a development story: Canada

Special Report

by Trust Matsilele 0

Canada's international development minister said Africa’s growth is a development story: PHOTOS: Chikafor Africa

“Africa’s development is not only an important economic growth story, it is also a development story,” said minister Christian Paradis.

In his address to Canadian and African businesses, the minister added that economic growth was critical to creating better communities.

(READ MORE: The African growth story to gain more chapters)

“It’s about jobs, education, access to training and health care services. It’s about sustainable growth and wealth distribution. As investors, Canadian businesses are models of best practice,” added Paradis.

“They use innovative approaches, financial instruments and technologies to build local capacity and create benefits for communities. Their presence is positive for the countries in which they operate, and perhaps even more importantly, for those who live there.”

Paradis added that current rates of economic growth across the region had the potential to bring sustainable poverty reduction across the continent.

Canada is also set to provide funding to the 13th replenishment of the African Development Fund to help Africa’s poorest and most vulnerable countries receive grants and low-interest loans.

“Canada is committed to supporting development in sub-Saharan Africa, and will continue to play a leadership role in maternal, new-born and child health and in supporting sustainable economic growth.”

“African states have made their development needs and priorities clear,” added the minister.

(WATCH VIDEO: African mining opportunities in Canada)

Ed Fast, Canada’s minister of International Trade addressed the same forum and urged the country’s businesses to seize the opportunities on trade and investment with emerging markets in Africa.

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