Africa Must Adhere to Rule Of Law, U.N. Says

Africa Must Adhere to Rule Of Law, U.N. Says

From NewsDay.

Rule of law, human and property rights will boost Africa’s trade with Japan, U.N. Secretary-General Ban Ki-Moon said Tuesday at the Tokyo International Conference on African Development.

He warned that corruption and inequitable distribution of wealth would stymie efforts to bring Africa, the next frontier of investment and economic growth, to its potential, according to a report in NewsDay. He also singled out opaque mining deals, rampant across the continent, as a source of conflict in African countries that threatens peace and stability needed for economic prosperity.

Ban made the comments while various Japanese companies that have shown an interest in Zimbabwe’s mining industry but have been obstructed by lack of transparency over mining concessions in the country, sought audience with President Robert Mugabe, the report said.

The U.N. commended Tanzania for taking positive steps to create a transparent and enabling environment for business and investment, the report said.

Read more at NewsDay.