Addis Ababa, 28 July, 2015(WIC) – President Barack Obama said Africa needs more trade and investment than aid to make a real economic progress and prosperity.
Speaking at to African Heads of States President Barack Obama said today that the perception of Africa by the world in the past has now completely changed because of the rise of Africa in every aspect.
According to President Obama, Africans want the partnership of the rest of the world in trade, investment, development and entrepreneurship to register fast economic growth.
USA has begun a new phase of cooperation with African continent before a year to eradicate poverty, ensure economic growth and fighting extremism together, he said, adding that the support in regarding to capacity building can help in transforming Africa.
Africa is the cradle of humanity with various potential to move forward into to prosperity has now emerging and hopeful to keep its dignity, President Obama noted.
He added that strong capacity building on Institutions such as Africa Union is vital for the transformation of African.
According to the president the most challenging thing to Africa is to create opportunity for the next generation of Africans, the choice should be made at now to create millions of jobs for the increasing population of African in which expected to be doubled in two decades.
As one partner African economic growth should not be restricted to small part of the society, the president said, essential activities are required to enhance trade and investment with in African continent itself through allowing modernized customs and trade interconnections without borders, he reiterated.
Ending the cancer of corruption that drains over 50 bln USD per annum undermines the dignity of Africans, said the president, Africans must truly promote good governance to eradicate poverty and continue sustainable development he underscore.
The president stressed that Investment on education is the crucial matter to strengthen the skills of human resources of in the African continent and encouraging entrepreneurial business that can lead Africa from poverty to prosperity.
Democratization of Africa in regarding to freedom of expression, assembling and serving free and fair election that are universal rights should be respected , the president, peaceful transition of power shown some African nations are lessons for others.