{{Uganda’s President Yoweri Museveni has urged the Common Market for Eastern and Southern Africa (COMESA) member states to prioritise investment in infrastructure to spur economic growth.}}
He advised African states to adopt innovative ways of financing infrastructure projects, such as through infrastructure bonds, public-private partnerships or savings.
“Improved infrastructure lowers the cost of doing business, attracts investors and creates employment,” he said.
He was speaking at the opening of a high level COMESA Infrastructure Conference in Kampala.
The conference, held under the theme “Innovative means of Infrastructure Financing” attracted delegates from 19 COMESA member states.
The countries include Libya, Egypt, Sudan, Kenya, Rwanda, DR Congo, Burundi, Comoros, Zimbabwe, Zambia, Djibouti, Madagascar, Mauritius, Malawi, Uganda, Eritrea, Ethiopia, Seychelles and Swaziland.
Museveni, the current COMESA chair, urged African states to focus their investment in infrastructure, which he described as the ‘cornerstone and bedrock of any society.’
He challenged African states to learn from the ancient Roman Empire, whose network of paved roads had given rise to the adage ‘All Roads Lead to Rome.’
“Even today, when you go to Rome, the roads are still there; not like the ones you build and within two years they disappear,” Museveni said.
He observed that inadequate infrastructure in form of transport, energy and information technology was behind region’s underdevelopment.
NV
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