Taarifa Rwanda

Corruption Holding Back US Investments In Africa

The United States is reluctant to investing in Africa because of widespread corruption, lack of fairness in commercial engagements said Tibor Peter Nagy Jr the United States Assistant Secretary of State for African Affairs.

Tibor was speaking to journalists on Monday at the US embassy in Kigali.

“American companies are eager to invest in Africa. They will bring technology,know-how and, above all, the desire to hire, train and advance Africans into positions of responsibility,” He said.

He however, expressed concerns that some other countries investing in Africa have not been as interested in promoting a level-playing field and will not speak about corruption.

Until recently, China has been heavily investing in Africa especially mega construction of roads, stadiums, railways, airports and industrial processing. China and the US are seemingly engaged in the scramble for the African market.

“American investors seek a level playing field, predictable policies, and a dispute resolution process that follows the rule of law and not who pays the highest bribe,” the US official said.

Mr Tibor is also keen on bringing on board the African youth into the development process on the continent.

“The question to you is, “How do we harness talent and entrepreneur spirit of young Africans as a force for prosperity and stability?”.

For, him, this trip is a phenomenal opportunity to engage with young Africans. “ I tell everyone I talk to, from deads of state to reporters, business people and civil society, that engaging African youth is the key to unlocking sustained prosperity on the continent.”

The US official also revealed that he was traversing the continent to project America’s unfettered muscle in commitment to Africa.

“No country in the world can match the depth of America’s long engagement in African in health, education, civil society and providing job skills, especially for women.”

According to Tibor, nowhere is the strength and breadth of the US- Africa partnership more evident than in Rwanda.  “we all know exactly how far Rwanda has come since 1994. In the past 25years, Rwanda has re-imagined itself as a strong state that invests in good governance and the success of its people. In many ways, Rwanda is demonstrating the true potential of Africa”.

He noted that Rwanda is a good example of how an African nation can transform its business climate for the better.

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