Chairman of United Bank for Africa: 'We need to fix our problems ourselves'
Summary
Tony Elumelu, chairman of United Bank for Africa, said Africa should solve its own problems because Western aid is decreasing. He stressed the importance of the private sector investing in electricity and transportation to support the continent’s growth.Key Facts
- Western development aid to Africa is shrinking.
- Africa cannot depend on outside help alone anymore.
- Wealthy Africans have a duty to spread prosperity across the continent.
- The private sector needs to act without waiting for governments.
- Electricity and mass transportation are the most urgent infrastructure needs.
- Lack of infrastructure has slowed down the African Continental Free Trade Area's progress.
- The comments were made during the Africa-France summit in Nairobi.
- Elumelu called for practical actions rather than just discussions to improve Africa’s development.
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