Kigali, 02 August 2018

President Kagame today joined a panel discussion on “Financing Africa’s Transformation for Sustainable Development” alongside former Presidents Benjamin Mkapa of the United Republic of Tanzania and Hassan Mohamed of the Federal Republic of Somalia, as well as Dr Mukhisa Kituyi, the Secretary-General of the United Nations Conference on Trade and Development.

The President who was attending the African Leadership Forum also delivered a keynote address. The forum, which brings together former Heads of State, heads of regional organizations, government and business leaders, runs from 2-3 August 2018.

Discussions at the forum focus on the prospects of increased, improved and effective financing for Africa’s transformation.

In his remarks, President Kagame highlighted that Africa can finance the biggest part of its development agenda.

“We know this because Africa finances other people’s development, and always has. The value of illicit financial flows evaded taxes, and commodity extraction greatly exceeds that of foreign aid, as a matter of fact,” President Kagame said.

The Head of State added that African leaders have to take responsibility for the misallocation of Africa’s resources and take steps to correct it.

“After all, in Africa, we have everything we need, in real terms. Whatever is lacking, we have the means to acquire. And yet, we remain mentally married to the idea that nothing can get moving, without external finance. We are even begging for things we already have. That is absolutely a failure of mindset,” President Kagame said.

The forum is organized by the Office of the Former President of the United Republic of Tanzania, Benjamin Mkapa in conjunction with the Institute of African Leadership for Sustainable Development, UONGOZI Institute.

Other former Heads of State attending the forum include former Presidents Armando Guebuza and Joaquim Chissano of Mozambique, Mohamed Moncef Marzouki of Tunisia, and Olusegun Obasanjo of Nigeria.