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Foreign Aid Dependency: Investment expert urges African Unity

By Ologeh Joseph Chibu

Investment expert Shirley Nkechinyere has asked Africans to unite in dealing with foreign aids.

He underscored the crucial need for robust collaboration among African nations during a press briefing in Abuja on Wednesday.

Emphasizing the continent’s independence from European financial aid, she advocated for intra-African partnerships as pivotal to Africa’s economic advancement.

Speaking ahead of the Africa Business Leadership and Investment Summit in Kigali, Rwanda, Nkechinyere highlighted, “Africa doesn’t require foreign aid. What we need is cohesive collaboration to prosper. It’s time for us to unite and drive progress within Africa.”

She expressed optimism that the summit’s policy discussions would focus on enhancing business resilience through continental alliances. Pointing out leadership gaps and business vulnerabilities, she cited knowledge deficits, limited exposure, and inadequate funding as critical challenges contributing to business failures.

“We require substantial resources to propel our nations forward, not just Nigeria but all African countries,” Nkechinyere emphasized. “This summit aims to foster Pan-African partnerships, promoting collaborative efforts across the continent.”

Dr. Okechukwu Ari, Head of Mission for ABLIS, echoed Nkechinyere’s sentiments, affirming the summit’s alignment with Nigeria’s efforts to restore hope and economic vitality. He advocated for President Bola Tinubu’s focus on revitalizing Nigeria’s agriculture and mining sectors, crucial for bolstering foreign exchange reserves and driving GDP growth by reducing unemployment.

“Nigeria’s potential in hydrocarbons and solid minerals positions it as Africa’s leading economy,” Dr. Ari noted. “Investing in modern agricultural technology is vital for achieving national development goals.”

The upcoming summit is poised not only to foster continental partnerships but also to equip African nations with strategies for sustainable economic growth and development.

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