Development organisation ONE The Pearl Dream Inc

ONE canvasses partnership to boost investment in Africa

Development organisation, ONE says partnership will help to boost investment in Africa.

ONE said this in a statement ahead of German Chancellor, Olaf Scholz’s trip to Nigeria and Ghana starting on Sunday (Today).

The organisation urged Scholz to work and create incentives for investment in Africa.

Director of ONE Germany, Stephan Exo-Kreischer, said, “Words alone are not enough. Scholz rightly emphasises that investments in Africa are synonymous with investments in our own future. However, the idea of ‘partnership at eye level’ must not be allowed to degenerate into a mere political phrase.

“For all too often, the major industrialised nations have let Africa down. No wonder many African countries are turning away from the West. It is time that partnership-based cooperation with African states was not just mentioned in Sunday speeches but backed up with concrete action.

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“This also includes the fact that Africa urgently needs increased and improved development financing. Africa definitely needs to be heard more than it has been so far. Investing in Africa is also investing in our own future.”

Director of ONE Nigeria, Stanley Achonu, therefore, called on Scholz to advocate for development financing and greater African representation.

Achonu said, “Chancellor Scholz spoke out in favour of the African Union’s inclusion in the G20, which has just happened. But that is not enough: Africa must also be represented in financial institutions.

“In essence, Africa’s progress hinges on access to equitable and affordable investments that foster the development of homegrown solutions to both local and global challenges. Moreover, African nations must be included in global decision-making bodies on issues that impact them, thereby granting them control over their own destinies.

“The chancellor should clearly show his leadership on these issues by actively listening to the concerns of the countries of the global south and promptly translating them into concrete actions,”

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