- Title: SOUTH AFRICA: African leaders urged to spread the wealth
- Date: 26th May 2010
- Summary: JOHANNESBURG, SOUTH AFRICA (MAY 25, 2010) (REUTERS) ( ** BEWARE FLASH PHOTOGRAPHY **) VARIOUS OF AFRICA PROGRESS PANEL MEMBERS WALKING INTO MEDIA CONFERENCE AND GETTING SEATED (SOUNDBITE) (English) KOFI ANNAN, AFRICA PROGRESS PANEL, CHAIRPERSON SAYING: "Africa is rich and its stock is rising. The value of its land, oil, gas and minerals is growing. Trade and investment is going up especially with the South. The global economic crisis has dented the growth of Africa over the past five years but it has not halted it. The growth will pick up. There are now one billion people on the continent, mostly young people. Many ambitious and better educated. The middle-classes and business community is growing. Regional integration is making progress and there have been social changes." AFRICA PROGRESS PANEL SEATED (SOUNDBITE) (English) KOFI ANNAN, AFRICA PROGRESS PANEL, CHAIRPERSON SAYING: "Africa needs stronger partnerships, if opportunities are to be ceased for equitable and sustainable growth. Partnerships and deals on trade and resource extraction need to yield lasting and not short term results. Partnership must allow Africa to benefit from partners' experience such as China's in low carbon energy, India's in green revolution and Brazil in social protection. Global policies and ideals whether on climate change, trade, corruption, intellectual property or in any other area need to take into account African priorities." AUDIENCE MEMBER ASKING QUESTION/ PANEL IN BACKGROUND AUDIENCE SEATED (SOUNDBITE) (English) OLUSEGUN OBASANJO AFRICA PROGRESS PANEL, MEMBER SAYING: "Where progress has not been made, again, to a large extent it is the fault of leadership. And that is why the Chairman and the report itself says, yes, we are the architects of our own fortune or misfortune, and yes, we need critical support of international partners and friends but we must bend down to carry our load before others give us support." PANEL MEMBERS AND AUDIENCE LEAVING MEDIA CONFERENCE
- Embargoed: 10th June 2010 13:00
- Keywords:
- Location: South Africa
- Country: South Africa
- Topics: International Relations
- Reuters ID: LVA3REPT3ZD9CJ4DGKV62GAXO4SF
- Story Text: Africa's growing wealth needs to be spread beyond the confines of powerful elites, a leading think-tank said on Tuesday (May 25).
The Africa Progress Panel composed of global leaders like former British Prime Minister, Toni Blair and chaired by UN Secretary-General, Kofi Annan, released the annual report in Johannesburg, South Africa.
The report identified poor governance and creaking transport and power infrastructure as the main impediments to the continent of a billion people.
He highlighted the importance of a growing educated, African middle-class that can drive economic, social and political progress.
"Africa is rich and its stock is rising. The value of its land, oil, gas and minerals is growing. Trade and investment is going up especially with the South. The global economic crisis has dented the growth of Africa over the past five years but it has not halted it. The growth will pick up. There are now one billion people on the continent, mostly young people. Many ambitious and better educated. The middle-classes and business community is growing. Regional integration is making progress and there have been social changes," said Annan.
He added that the continent should increase cooperation with other emerging economies like Brazil and India.
"Africa needs stronger partnerships, if opportunities are to be ceased for equitable and sustainable growth. Partnerships and deals on trade and resource extraction need to yield lasting and not short term results. Partnership must allow Africa to benefit from partners' experience such as China's in low carbon energy, India's in green revolution and Brazil in social protection. Global policies and ideals whether on climate change, trade, corruption, intellectual property or in any other area need to take into account African priorities," said Annan.
Annan criticised governments and external investors for striking deals, especially in the minerals sector, that too seldom benefited local people.
Also speaking at the launch was former Nigerian President, Olusegun Obasanjo who called on Africans to manage the continent's affairs themselves before asking for donor assistance.
"Where progress has not been made, again, to a large extent it is the fault of leadership. And that is why the Chairman and the report itself says, yes, we are the architects of our own fortune or misfortune, and yes, we need critical support of international partners and friends but we must bend down to carry our load before others give us support," said Obasanjo.
The report was presented on Africa Day, which promotes African unity and celebrates the continent's heritage, culture and diversity.
Before the economic slump of 2009, sub-Saharan economies enjoyed growth of 5 percent a year -- comfortably above population expansion rates -- and most have managed to bounce back well with this year's recovery in world commodity prices.
In April, the International Monetary Fund projected regional expansion of an average 4.7 percent for 2010. But in many countries the gap between the rich and poor was getting bigger, the report said.
Africa's progress was also marred by political instability with coups taking place in various countries like Mauritania, Madagascar and Guinea. - Copyright Holder: REUTERS
- Copyright Notice: (c) Copyright Thomson Reuters 2011. Open For Restrictions - http://about.reuters.com/fulllegal.asp
- Usage Terms/Restrictions: None
