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Premier Ngirente calls for more investment in technologies to boost Africa's economies

Ngirente made the call as he officiated the opening ceremony of the 4th Africa50 General Shareholders Meeting at the Kigali Convention Centre which ended yesterday.

The meeting brought together different Africa50 shareholders and Board members including Dr. Akinwumi Adesina, Africa50 Chairman and President of AfDB and Mr. Alain Ebobissé, the CEO of Africa50 among others.

The Premier highlighted that Rwanda started with laying the foundations by investing in infrastructure that led to 95% of the country fiber network coverage.

He said that this played a considerable role in improving service delivery through online government services and noted that Rwanda is looking at universal digital literacy of its young people by 2024 as well as capitalizing on innovation and technology to develop the economy and reduce poverty.

Premier Ngirente called for collaboration and partnership between governments, private sector and other partners to make investments successful and commended Africa50 for stepping in to partner with the Government of Rwanda in developing Kigali Innovation City, a flagship project to accelerate Rwanda's innovation ecosystem.

He also reiterated the importance of investing in technology by supporting inclusive solutions that improve the lives of people and lifting them all out of poverty and encouraged participants to continue working together as partners to find ways to transform Africa through the use of technology as a platform to accelerate the creation of value for citizens and society.

The CEO of Africa50, Alain Ebobissé said that they have increased infrastructure investment over the past three years like energy to facilitate investors in Africa.

He explained that they expect to invest in Kigali Innovation City in Rwanda, hydo-electric power project in Madagascar, building a bridge connecting DRC and Congo Brazaville crossing River Congo and plan to build an airport in Guinea among others.

“We want to raise at least US$ 1 billion to finance conceived projects in country members,” he said.

Rwanda ratified agreements to join ‘Africa50' shareholders last year in July during the General Assembly held in Nairobi, Kenya.

Africa50 comprises of 27 African countries, Africa Development Bank, The Central Bank of West African States (BCEAO) and Bank Al-Maghrib. It has over US$870 million initial capital.

Africa50 is an infrastructure investment platform that was founded by the African Development Bank (AfDB) and African states.

It was conceived after a 2012 declaration by African heads of state as part of the Program for Infrastructure Development in Africa (PIDA) that called for innovative solutions to facilitate infrastructure delivery.[4] Africa50 was ratified by African Finance Ministers in May 2013, and its headquarters were launched in Casablanca, Morocco in September 2014

Prime Minister, Dr. Edouard Ngirente officiated the opening ceremony of the 4th Africa50 General Shareholders Meeting at the Kigali Convention Centre.
The meeting brought together different Africa50 shareholders and Board members including Dr. Akinwumi Adesina
The CEO of Africa50, Alain Ebobissé said that they have increased infrastructure investment over the past three years.
Rwanda ratified agreements to join ‘Africa50' shareholders last year in July during the General Assembly held in Nairobi, Kenya.

IGIHE

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