Kagame made the remarks in Abu Dhabi, United Arab Emirates as he attended the Milken East and North Africa Summit that was organized by Milken Institute, a US-based Think Tank that publishes research and hosts conferences that apply market-based principles and financial innovations to social issues in the US and internationally.
In a one on one conversation with Milken Institute’s Chairperson, Michael Milken, Kagame said Africa is rich in natural resources but poor looking at its portion of global GDP.
“Africa is endowed with so much in terms of natural resources, the numbers are very clear. When you look at Africa’s portion of global GDP, it is very misleading when you also know what it is capable of,” Kagame said adding that the challenge has been how in the continent has always been how can Africa be so rich yet so poor at the same time.
To get out of this history, Kagame said Africa has to first seek ways to stop depending on outside factors starting from the level of African Union.
He gave as example the African Union institutional reforms which he was mandated to lead by his fellow African Heads of States. The reforms seek to make Africa a free trade market and see the African Union activities funded by its Member States.
“At AU level, we started by saying if we held Africa together, tried the best we can and make these borders that divide 55 countries irrelevant, beginning with trade, free movement of people and goods across borders, we can transform our economies,” he said.
Kagame said: “Leaders met in 2016 and we agreed we have to do reform because we can’t do business as usual, we have to change, beginning with how we conduct our affairs, including being able to finance the activity of the African Union.”
“AU activities were being financed at more than 80% from outside yet 55 countries can contribute to making sure we can run our own affairs,” he explained.
“We cannot work together without overcoming the challenge that we are so dependent on factors outside the continent. We have to build self-sufficiency and independence. This is what will take Africa where we should be,” he said.
“Knowledge and technology are things that are beginning to be so well evenly distributed across the world,” he said, adding: “If our young people are educated and they have their health then they are able to do what anyone else can do. You find them in different parts of the world doing exactly what is needed in Africa.”
“We need to invest in our people, even countries with natural resources, it will come to waste if they don’t invest in their people,” Kagame warned.
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