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We need to emphasise on the intra-Africa trade says Mutambara

by Staff Reporter
19 May 2013 at 16:54hrs | Views
The Deputy Prime Minister, Professor Arthur Mutamabara says there is need for Africa to seek ways of promoting intra-continent investment supported by world class infrastructure.

Professor Mutambara said this during a wide-ranging interview with ZBC last week on ways of promoting investment and economic growth within the continent.

He said there is need to ensure increased trade among African countries which will play a critical role towards the transformation of economies.

"We need to emphasise on the intra-Africa trade which has been the missing link in terms of developing the continent's economies. The investment will also be supported by world-class infrastructure that will play a critical role towards attracting foreign direct investment from other continents," said Professor Mutambara.

Africa has remained a source of raw materials for developed nations due to lack of value addition equipment in the continent.

According to the International Monetary Fund (IMF), Sub-Saharan Africa is projected to grow by 5,6 percent this year while projections are that next year the continent will grow by 6,1 percent.

Source - zbc