The Head of State was speaking Thursday at the opening of a two-day African Leadership Forum (ALF) taking place in Kigali.<\/p>\n
The forum taking place under the theme \u2018Financing Africa\u2019s Transformation for Sustainable Development\u2019 was attended by different former African Heads of States.
\nKagame said that there is no doubt that Africa can finance a big part of its own development, as it has always financed other\u2019s development.<\/p>\n
\u201cThe value of illicit financial flows, evaded taxes, and commodity extraction greatly exceeds that of foreign aid, as a matter of fact. But we have to take responsibility for the misallocation of Africa\u2019s resources and take steps to correct that,\u201d he said.<\/p>\n
\u201cI would rather argue, that we need to mobilise the right mindsets, rather than more funding,\u201d he noted.<\/p>\n
He said that Africa has everything it needs, in real terms, but Africans remain mentally married to the idea that nothing can get moving, without external finance.<\/p>\n
\u201cWe are even begging for things we already have. That is absolutely a failure of mindset,\u201d he added.<\/p>\n
According to Kagame, through accountability, Africa can change through domestic tax collection and building the trust that public funds will be spent on the right things.
\nHe said that through regional integration and working together across the continent, Africa can change the records.<\/p>\n
Kagame said that another way to reach a turning point is to continue making it easier for African businesses to grow and create jobs for young people. <\/p>\n
\u201cThis is about changing the mindset of our youth from one of dependence and \u2018poverty reduction\u2019, to one of prosperity and wealth creation,\u201d he added. <\/p>\n
As for its 7th edition, the forum was organized by the office of former Tanzanian President Benjamin Mkapa and the institute that supports African leaders to attain sustainable development for their nation and for Africa known as UONGOZI Institute.<\/p>\n