Sierra Leone’s Ambassador to Saudi Arabia Wusu Munu says Africa has many potentials and areas of investment opportunities

Amb. Munu addressing members of the press

Sierra Leone’s Ambassador to the Kingdom of Saudi Arabia, the Middle East and Gulf States Monday, 21st May, 2012 told reporters in Riyadh that Africa has many potentials and areas of investment opportunities. He made the statement at a news conference organized by the Group of Ambassadors of the African countries accredited to Saudi Arabia ahead of their official African Day celebration scheduled to take place next week. Ambassador Wusu B. Munu pointed out that there is a new scramble for Africa by the great powers and this time, it’s not for colonial possessions, but for economic and investment opportunities on equal basis.

President Koroma’s envoy identified certain areas for possible investments in Africa and Sierra Leone in particular such as: Agriculture, Infrastructure, Fisheries, Tourism Industry, Mining and Telecommunication. He thanked His Majesty, King Abdullah Bin Abdul Aziz Al- Saud and his Government for improving their country’s economic relationship with Africa and stressed the need for the expansion of economic partnership between the Gulf Cooperation Council (GCC) and Africa. The hosting of the Gulf African Investment Conference in Riyadh last year, the Ambasador reiterated, has further helped to promote cooperation between the African and the Gulf states at a time when major countries in the world are looking for available investment opportunities in the African continent.

The Sierra Leone envoy encouraged investors in the Gulf to visit Africa to see for themselves the potentials of the continent, stressing that economic transformation in Africa has been effective in the past decade which has boosted economic growth in the continent. He furthered that his country is becoming one of the most attractive destinations for investment in Africa, adding that, Sierra Leone is one of the most stable countries on the African continent.  “Its democracy is thriving, the economy is growing and the climate for investment is being transformed. It has pristine beaches, fertile land, vast mineral resources and very innovative people,” Ambassador Munu told local and International reporters.

Meaningful contributions were also made by the Ambassadors of Tunisia, Djibouti, Mali and Kenya. Meanwhile, a press statement issued by the Group of the Ambassadors of the African countries accredited to the Kingdom of Saudi Arabia yesterday, called for more Afro-Arab cooperation, through existing mechanisms, whether political, such as Afro-Arab Dialogue Forum and the Afro-Arab Summits in coordination between the African Union and the Arab League through available Arab economical mechanisms such as the Saudi Fund for Development, the Kuwait Fund for Economical Development, Abu Dhabi Fund, the Egyptian Fund for Technical Cooperation with Africa, joint Arab financial institutions or through direct investments by businesses and private sector. “On the occasion of Africa Day, we renew our pledge to do everything we can to work together to embody our vision of a continent prevailed by peace, prosperity and democracy,” their statement ends. The African Day is celebrated in many African countries for the hard-fought achievement of their freedom from European colonial powers in May 25th, 1963.

 

Alhaji M.B. Jalloh, Information Attache, Riyadh

© 2012, Alhaji Jalloh. All rights reserved. – The views expressed here are purely those of the author and not necessarily those of the publishers. – Newstime Africa content cannot be reproduced in any form – electronic or print – without prior consent of the Publishers. Copyright infringement will be pursued and perpetrators prosecuted.

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