Exim Bank supports African Day Golden Jubilee celebrations

 

 The African Development Bank (AfDB) Resident Representative in Tanzania, 
Tonia Kandiero (right) shares a light moment with the Exim Bank Tanzania 
Managing Director Anthony Grant (left) during Africa Day 2013-Golden Jubilee  celebrations held in Dar es Salaam at the weekend. The event was supported by Exim Bank. 

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Exim Bank supports African Day Golden Jubilee celebrations

THE African Development Bank (AfDB) Resident Representative in Tanzania, Tonia Kandiero has urged African countries including Tanzania to embark on intra-regional trade in a bid to achieve meaningful development within the next few years.

Speaking during the African Day Celebrations sponsored by Exim Bank Tanzania at the weekend, Kandiero said currently only 12% of Africa’s Trade is Intra-Regional adding that African states should now invest in infrastructural development to increase intra-regional trade.

Kandiero said AfDB has come up with the Africa’s Transformation Strategy 2013-2022 that seeks to support Africa’s economic development with Infrastructure development with five core operational priorities that include Regional integration, Private sector development, Governance and accountability and Skills/ technological development.

“Africa seeks to be competitive, diversified, integrated, prosperous, and a full participant in global trade and investment’ “This vision achievable because real GDP Growth and the number of FDI-financed greenfield projects in Africa are on a par with those in the BRICs,” she added.

Earlier, Foreign Affairs and International Cooperation Minister Bernard Membe noted that African states should now focus on economic empowerment in a bid to achieve increased economic development in years to come. “We can achieve fully   fledged integrated economies if we encourage intra-trade within our nations. This must go in line with developing good infrastructure networks,” Membe said