Dubai: The launch of a new investment initiative for the African continent constitutes one of the highlights of the agenda of the Angolan President, Joo Lourenço, during the World Summit of Governments that begins on Tuesday, in Dubai. According to Angola Press News Agency, the Minister of Foreign Affairs, Téte António, announced that this is the Global Investment Summit for Africa. The launch event will be led by the Angolan statesman, as acting president of the African Union (AU), with collaboration from other African leaders, including those from Ghana, Tanzania, and Mozambique. Speaking to the press in Dubai, United Arab Emirates, Téte António highlighted that the initiative emerges as a new platform driven by the necessity for a paradigm shift from development aid to investment. He emphasized that, while the African continent has long benefited from development aid, it has not provided sustainable solutions. The minister explained that the initiative aims to mobilize investments within the African con tinent, stressing the importance of transitioning from aid to investment for leveraging the continent's potential. The initiative seeks to convey that what Africa requires is investment rather than aid. He further elaborated on the global interest in Africa's critical minerals, insisting on a move away from the historical practice of exporting raw materials without local transformation, which failed to contribute to the continent's development. The plan is to launch the initiative in Dubai, in the presence of the international business community, with the first ordinary summit scheduled to be organized in the Angolan capital, Luanda.
