This came at ACBF’s 20th anniversary celebration held last week, where senior government officials, members of the private and public sector deliberated on Africa’s capacity to develop and grow.
Paul Baloyi, chairperson of the executive board of ACBF, said a number of African countries were affected by the depletion of resources and low aid inflows as a result of the Euro-zone crisis.
“Weak institutions in state organs choke the flow of funding, which is a contributory factor to low funding from donor countries,” said Baloyi.
However, Minister of Economic Planning and Investment Promotion, Tapiwa Mashakada, said Africa’s future will be driven by trade and investment, as well as regional integration, as opposed to the old system where most depended on aid inflows.
“The ACBF must address the current skills gap and also motivate the Diaspora to come back and provide technical skills,” he said.
— BY KUDZAI CHIMHANGWA