Africa’s development is Africa’s responsibility - CNBC Africa

Africa’s development is Africa’s responsibility

Special Report

by Trust Matsilele 0

NEPAD Business Foundation has been making critical interventions in the agricultural sector in the Beira corridor. PHOTO: NBF

NBF is a platform that brings multi-stakeholders together to leverage Africa’s economic growth and development.

NEPAD Business Forum has also been spearheading agriculture initiatives in Malawi, Mozambique and Zambia. 

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Addressing delegates attending the Nedbank-NEPAD Networking Forum in Sandton on Tuesday, Subramoney said there was need for US-Africa relations to be mutually beneficial.

Subramoney said that the region’s improving growth story saw the continent increasingly becoming a transformed economy adding that regional growth was Africa's responsibility.

“In the past decade about eight out of 15 of the world’s fastest growing economies were in Africa,” he added.

Subramoney added that great nations were built through great partnerships, saying in the United States, Africa had a partner the region could rely on.

Subramoney said Africa required trade ties with developed partners like the United States.

The conference held under the theme; US-Africa Relations: Trade, Investment and Development Partnerships sought to build on the momentum set up by the US-Africa leadership summit held last August.

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The United States-Africa Leaders’ Summit was an international summit held in Washington DC during August 2014.

The summit was attended by leaders from fifty African states over three days primarily focusing on trade, investment and security of the continent

Power Africa, a landmark investment initiative from the US president Barack Obama received a commitment of up to 12 billion US dollars.

Subramoney warned that both private and public sectors needed to focus more towards ensuring poverty alleviation.

“400 million people live in poverty and will die if we do not intervene,” warned Subramoney.