Rwanda’s President Paul Kagame has called on African countries to stop seeking external funding and work with their own resources, which are available in plenty.
He was speaking during the opening of the African Leadership Forum, where he asked African leaders to control illicit financial flows, improves taxation and adds value to its raw materials.
“The value of illicit financial flows, evaded taxes, and commodity extraction greatly exceeds that of foreign aid. But, we have to take responsibility for the misallocation of Africa’s resources and take steps to correct that,” he said.
He further added that despite having resources it needs and the means to acquire the ones that are unavailable, Africa is still bent on borrowing.
“In Africa, we have everything we need, in real terms. Whatever is lacking, we have the means to acquire. And yet, we remain mentally married to the idea that nothing can get moving without external finance,” he said.
Kagame, who was among the first African leaders to sign the African Continental Free Trade Area, said the pact was an important aspect of regional integration that will foster development.
“The entry into force of the African Continental Free Trade Area is set to significantly increase trade within Africa, and consequently improve tax collection, we gain immeasurably by trading with each other, and lose so much when we don’t.”
Tyra Banks, the iconic former host of Dancing With the Stars, has made a delightful…
A Brazilian woman named Érika de Souza, 42, is under investigation for manslaughter after authorities…
Ghana’s Asante king Otumfuo Osei Tutu II has unveiled the long-lost treasure of the kingdom…
Deion Sanders is a retired American professional football and baseball player who currently coaches at…
Tiger Woods is set to receive $100 million from PGA Tour Enterprises for his loyalty,…
Jalen Hurts, the Philadelphia Eagles' quarterback, has shown his affection for the community by contributing…
It appears Shaquille O'Neal is willing to go all the way out to pamper his…
A U.S. Army Major faces up to 240 months in prison after he was found…
In her first interview about her conviction in Russia on drug smuggling charges, WNBA star…
The beloved host of This Morning, Alison Hammond, is making headlines by selling off her…
Two high school students in Grand Rapids, Michigan, have earned a place in history. The…
Derek Floyd, a 36-year-old Fire Department of New York probationary fireman, died of a heart…
A 4-year-old boy fighting end-stage kidney disease lived out his dream as a cop for…
Director Abshir Rageh oversees film production at Astaan, a privately held cable television network in…
Nigerians are eagerly awaiting to welcome their "daughter" Meghan Markle's royal visit next month alongside…