Foreign Investments In Africa Below NEPAD’s Potentials, Bouteflika

President Abdelaziz Bouteflika said Wednesday, in Malabo, that the New Partnership for Africa’s Development (NEPAD) has proved to be a “promising” initiative, yet, foreign investments in the region are still below expectations.

Addressing head of states and delegates in Equatorial Guinea ahead of an African Union summit opening Thursday, Mr Bouteflika told the meeting of the NEPAD that: “Africa has made considerable efforts in its way to recovery, and managed to become a new pole for the world’s economy development.” 

“The progress Africa has been making in the fields of peace, security, democracy, good governance and economy recovery will pave the way for new efforts to be made locally, regionally, continently, and internationally,” he added. 

Head of State said the fact that 30 nations joined the NEPAD initiative highlights the commitment of Africa to promote good governance.

“The international support to NEPAD has been increasing, either in terms of public financial support or in terms of direct foreign investments, although such financial resources are still below Africa’s aspirations and potentials,”* he stressed.