Abdul Milazi - Johannesburg

AFRICA should rediscover ubuntu as it was an instrument of its own salvation and a panacea to its economic and political ills, New Partnership for Africa's Development (Nepad) Business Foundation chairman Reuel Khoza said earlier this week.

Khoza said this had become even more urgent since Africa's global profile had been given a new sheen by the interest taken in the continent by emerging economic superpowers India and China.





Independent political analyst Tebogo Molefi said: "There no longer appears to be the broad view that the whole continent is a high-risk region. The main obstacle today is a lack of bankable projects, the limited number of financial instruments, capacity constraints, and a lack of liquidity in local markets."

Molefi said the new interest in the continent from Asia came at a time when the group of eight countries were being accused of failing to give Africa the support they had promised.

"China and India have approached Africa seeking partnerships rather than the neocolonial and paternalistic relations many African countries have with western nations," said Molefi.

Khoza said unless Africans found solutions to their own problems, the present ills plaguing the continent would never be overcome.

"Today, Africans themselves have put governance at the top of the continent's agenda for change and democratic progress. Building capable and accountable African political economies should be no different to building them elsewhere. Unfortunately, a combination of historical misfortunes, prejudice against Africans and sheer mismanagement by Africans themselves has caused critics to regard Africa as a place where malfeasance is the norm and good governance beyond our grasp," said Khoza.

He said Africans should acknowledge that leadership must play a central role in restoring Africa for the purpose of development, growth and prosperity.

The self-esteem of most Africans today is low because of the wars, ethnic conflicts, poverty and diseases, he said.

"By setting objectives for an African renaissance using the themes of cultural revival, peace and security, democracy and wealth creation, Africans can turn their backs on Afro-pessimism and strike out on the path of Afro-optimism," said Khoza.

In his speech to the Association of Southern African Development Community Chambers of Commerce and Industry trade conference in the Democratic Republic of Congo in April, Southern African Trust chairman Denis Kadima said Africa needed a new approach to economic development.