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In a meeting with his South African counterpart, President Tinubu asserted that Africa must have a consensus view that the hundreds of billions of dollars spent through International Development Finance Institutions over the years must meet the specific needs of developing democracies in Africa, even if it is done with exclusive regard for their own enlightened self-interest.
The South African leader also used the opportunity of the bilateral engagement to extend an invitation to President Bola Tinubu to visit South Africa, following President Ramaphosa’s recent visit to Nigeria, as part of efforts to deepen economic ties and the broader relationship between both countries.
While accepting the invitation, President Tinubu affirmed that an Africa, in which Nigeria and South Africa are working in synergy to advance their common interests, is the strongest version of the continent, which can make more impact on global affairs for the benefit of over one billion Africans with its enormous human and natural resource wealth.
“During the end of the Second World War, the Marshall Plan was established for the reconstruction and economic restoration of European nations through Bretton Woods institutions. Where has this presence been for Africa?
“We have to be careful not to replace the broken shackle of yesterday with a new set of shackles. You can not have a stable democracy in the presence of a poverty of knowledge and a starvation of people. Democracy without food on the table is a breeding ground for what will consume us if care is not taken. We must join hands and agree that International Finance Institutions require reform as Africa is not to be a ground for economic scavenging any longer, but it is a place with gifted people that is ready for investment and cooperation.
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