Kagame, who officially opened the 2014 Annual Meeting of the
He pointed out that long spells of instability in parts of the continent, high energy and transport costs, fragmented and non-integrated economies, and a high dependency on primary commodities were some of the well-known obstacles that have made
Apparently raising concerns over the menace of terror groups in
According to him, "over the last two decades, many African countries have worked to resolve major problems and began to lay the foundation for future prosperity. Take the example of instability. A number of difficult situations around the continent today remind us that progress can always be reversed. We also have to be reminded that together me may rise or together we may fall. We are responsible for ourselves. But we are also, to some extent, responsible for each other.
"Instability in any part of
It also calls for continued strengthening of our respective internal systems to prevent conflicts in the first place."
Saying African governments could not afford to be laid back and take the future of the continent for granted, Kagame stated: "Yes,
Welcoming participants to the event, AfDB President,
"To give our citizens, especially young Africans, the lives they dream of, we have a lot higher to climb. We know what needs to be done. Our countries have smart policies that we have seen work elsewhere in the world. But the kind of rapid progress we all want will only be achieved by sound implementation. In particular, taking
The first to take advantage of an improved business environment should be African companies," he told African leaders, captains of industry, experts and other high-level personalities present at the opening ceremony.
Reiterating the bank's condemnation of terror acts, he lamented that the groups were interrupting the economic takeoff of African countries.
He said whatever they claim they are fighting for, they are losing the battle.
While delving into the achievement of the bank in the last 50 years of existence, Kaberuka noted that AfDB had remained true to its mandate stating that it is an institution which Africans and their partners could be very proud of.
According to him, "from a modest start, today, the
He disclosed from inception in 1964 to date, the bank has committed about
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