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Johannesburg - The
economic crisis occurs under very upbeat circumstances for Africa, ccording to
President Jacob Zuma.
Speaking at the 26th NEPAD Heads of State and Government
Orientation Committee on Saturday, Bua News reports the President said Africa
has recorded high growth levels and has become a prime focus in the world.
The recent economic forecast from the IMF indicates that the
economy of the African continent will grow by over 5% on average in the next
two years, he said, adding that economists from all over the world predict that
Africa is going to be the next growth area in the world after Asia.
"The economic decline of the developed North
demonstrates that we have to increasingly trade among ourselves and other
countries in the South.
"We all know that efforts to accelerate the development
and structural transformation of African economies are hindered by very
substantial obstacles, particularly those related to finance and infrastructure
as well as governance, and human capital.
"But we should not wait until all of these obstacles
are resolved to create productive jobs. Other economies managed to expand
production and exports while still grappling with the same sorts of constraints
currently observed in Sub-Saharan Africa," he said.
According to BuaNews he added that traditional models of
financing and delivering infrastructure must give way to new models and
different ways of financing infrastructure, with a particular focus on Public
Private Partnerships must also be looked at.
"This principle is the foundational platforms for any sound public infrastructure project involving private sector participation.
