BBC NEWS Americas Africa Europe Middle East South Asia Asia Pacific
BBCi NEWS   SPORT   WEATHER   WORLD SERVICE   A-Z INDEX     

BBC News World Edition
 You are in: Business  
News Front Page
Africa
Americas
Asia-Pacific
Europe
Middle East
South Asia
UK
Business
E-Commerce
Economy
Market Data
Entertainment
Science/Nature
Technology
Health
-------------
Talking Point
-------------
Country Profiles
In Depth
-------------
Programmes
-------------
BBC Sport
BBC Weather
SERVICES
-------------
EDITIONS
Monday, 16 September, 2002, 18:53 GMT 19:53 UK
UN targets Africa's poverty
Nigerian president Olusegun Obasanjo addressing the UN
Olusegun Obasanjo is one of the founders of Nepad
World leaders have pledged support for Africa's home-grown recovery plan, known as Nepad, in return for an African commitment in the struggle to combat corruption and to eradicate regional conflicts.

The United Nation's general assembly debated Africa's new plan for economic development in a special, all-day session.


Africa is seeking to lift itself by its own bootstrap

Olusegun Obasanjo
Africa is seeking increased foreign investment and better economic growth - but the continent's leaders made it clear that they want to find their own solutions.

"Africa's future will be determined by Africans," said the UN's General Secretary, Kofi Annan.

"Africa is seeking to lift itself by its own bootstrap," Nigerian president Olusegun Obasanjo told the general assembly on Sunday.

South Africa's president, Thabo Mbeki, has already called on the international community to help end the continent's humiliation as "an object of charity".

"As Africans, today we stand in front of the peoples of the world to make the pledge that we'll honour the commitment we have made to ourselves and the world, that we'll act firmly to extricate Africa out of her long night of misery," Mr Mbeki told the assembly.

Ten African heads of state are amongst the representatives of 80 nations thrashing out the key issues surrounding the effective implementation of Nepad.

Worsening poverty

The Nepad plan sets out ways in which African governments can root out corruption and end conflict in order to ensure greater foreign investment and aid.

African leaders are hoping to win yearly investments of $64bn (41,1bn) for Africa, enabling annual economic growth of 7%.

Nepad founding countries
Algeria
Egypt
Nigeria
Senegal
South Africa
When Nepad was unveiled in July, Africa had already suffered a significant decline in prosperity and dwindling foreign investment.

Development aid to Africa has been falling, with rich countries becoming increasingly fearful that investments are being mismanaged by incompetent or corrupt leaders.

Trade marginalisation

The Nepad plan is based largely on ideas drawn up separately by Mr Mbeki, Mr Obasanjo and Senegalese President Abdoulaye Wade.

Nepad "reflects the determination by African governments to resolve the problem of economic backwardness, poverty and social exclusion," Angola's foreign minister, Joao Bernardo de Miranda, told the assembly last week.

Mr De Miranda also stressed that African leaders were determined to end the continent's marginalisation from the international markets for capital, services and goods.

The general assembly, which is entering its second week, has already had to tackle a slew of weighty issues, including aid to Afghanistan and the Iraqi controversy.

 WATCH/LISTEN
 ON THIS STORY
The BBC's Greg Barrow
"We'll act firmly to extricate Africa out of a long night of misery"
See also:

05 Jun 02 | Business
25 Mar 02 | Business
06 Feb 02 | Business
19 Mar 02 | Business
08 Feb 02 | Africa
Internet links:


The BBC is not responsible for the content of external internet sites

Links to more Business stories are at the foot of the page.


E-mail this story to a friend

Links to more Business stories

© BBC ^^ Back to top

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East |
South Asia | UK | Business | Entertainment | Science/Nature |
Technology | Health | Talking Point | Country Profiles | In Depth |
Programmes