AU urges investors to engage in responsible investments
The African Union (AU) is calling on investors to engage in responsible investments on the continent and with models that would be mutually beneficial.
Erastus Mwencha, the Deputy Chairman of the AU Commission said Africa was a favorable place to invest in, because profitability and returns are still the best in the world.
“We also need dialogue to ensure that we do business in a sustainable manner,’’ he said.
According to an African Union (AU) press statement, Mwencha was speaking during the official opening of the Grow Africa Forum this week at the continental body’s Headquarters in Addis Ababa, Ethiopia.
He said Africa had seen an increment in investments, because of the change the continent was experiencing as regards, investments, peace and security.
According to the AU statement, “Grow Africa builds upon the Comprehensive African Agriculture Development Programmee (CAADP) Africa’s strategy to boost agricultural productivity. It introduces transformative change in African agriculture based on national agricultural priorities and in support of CAADP.”
It was jointly organized by the African Union Commission (AUC), the New Partnership for Africa’s Development (NEPAD) Planning and Coordinating Agency (NPCA) and the World Economic Forum.
Meanwhile, the World Economic Forum Vice Chairperson, Ms. Josette Sheeran has said the era of handouts in Africa was over, adding that ‘Africa has to be in the driver’s seat, that is what Grow Africa is about.’’
“Africa is representing its own interests, knowing what it had to offer to the World, including partnerships that benefit its nations,’’ Sheeran noted.’’
The Grow Africa forum attracted over 200 high-level leaders of global, regional and national businesses, international organizations, civil society and farmers’ organizations.
Heads of State and Government from Ethiopia, Tanzania, and Rwanda also attended the meeting.