Gordhan calls for rethinking of African development trajectory

2011-06-24 09:10

The development trajectory on the African continent should be reformulated, Finance Minister Pravin Gordhan said today.

Speaking at Climate Investment Funds partnership forum hosted by the African Development Bank, he indicated Africa would be a key player in global growth and development in the next 20 to 30 years.

Africa within the multi-polar context was the site of new sources of demand, the site of new sources of growth, and the sight potentially even of new possibilities of innovation and experience.

“What Africa does require is that the traditional paradigms of development and funding and aid needs to be transformed,” Gordhan said.

What was required was a new formula and a new approach which linked action on climate change to genuine development for the peoples of Africa.

“For industrialisation and economic development in Africa; for genuine job creation on the African continent and skills development.

“And a systematic and urgent process that will eradicate poverty on this continent as well.

So, while we are focusing on funding and climate change issues and technology issues and related matters, let us also ask ourselves how we can, if you like, reformulate the development trajectory that we are used to on the African continent and use this an opportunity to experiment on a much broader scale to ensure that the benefits of growth and the benefits of development don’t get left with a small elite, but the billion people on the African continent in ten years time can say that as a result of interaction... they can see a real change in their lives.”

Gordhan said he firmly believed that the African continent could also be a site for research and development.

It could also be a centre for innovation, and what was required was the right kind of partnerships which would enable Africa to fulfil this particular potential.

“One of the serious challenges that all of us face is climate change and its various instruments being seen as private goods or public goods and how do we make these public goods more generally available, certainly to the must vulnerable people around the world, will be one of the many challenges that we face,” he said.

Join the conversation!

24.com encourages commentary submitted via MyNews24. Contributions of 200 words or more will be considered for publication.

We reserve editorial discretion to decide what will be published.
Read our comments policy for guidelines on contributions.

24.com publishes all comments posted on articles provided that they adhere to our Comments Policy. Should you wish to report a comment for editorial review, please do so by clicking the 'Report Comment' button to the right of each comment.

Comment on this story
Comments have been closed for this article.

Inside News24

Traffic Alerts
There are new stories on the homepage. Click here to see them.


Create Profile

Creating your profile will enable you to submit photos and stories to get published on News24.

Please provide a username for your profile page:

This username must be unique, cannot be edited and will be used in the URL to your profile page across the entire 24.com network.


Location Settings

News24 allows you to edit the display of certain components based on a location. If you wish to personalise the page based on your preferences, please select a location for each component and click "Submit" in order for the changes to take affect.

Facebook Sign-In

Hi News addict,

Join the News24 Community to be involved in breaking the news.

Log in with Facebook to comment and personalise news, weather and listings.