MONDAY, 12.00NOON:
UNITED States President Bill Clinton has called for more private investment in Africa and will ask the US Congress to raise development assistance to historically high levels, he said before leaving Johannesburg for Botswana on Sunday.
He also promised to ask for $1,6-billion in debt relief for Africa from the US Congress and to raise the issue at the May G-7 meeting of the world’s leading economic powers.
Leaders of reforming African countries will be invited to Washington for meetings to follow up on developments catalysed by Clinton’s visit. Increased diplomatic contact is also planned.
The average annual return on African investment is 30%, said Clinton, and both reforming African leaders and US businessmen will be richly rewarded by stronger economic ties.