Private ICT investment 'key' to improvement
9 October 2009
Private investment in information communication technology (ICT) is transforming the continent and has vindicated this finance model, Rwandan president Paul Kagame has been quoted as saying by the New Times.
Addressing the Geneva summit of the International Telecommunication Union, he asserted that the $8 billion (£5.03 billion) invested in this infrastructure in recent years on the continent had been instrumental in both reducing costs and increasing connections.
Mr Kagame - one of the key speakers at the meeting - drew attention to the fact that an estimated 70 per cent of this funding was private.
"This is vindication of our belief in the private-led growth and development and in the role of ICT as an industry as well as a facilitator of other sectors," he noted.
In related news, Nigerian labour minister Adetokunbo Kayode has echoed the opinion that this infrastructure is vital to development.
The African Press Agency relayed statements made Tuesday (October 6th) saying special priority should be given to investment in this domain.