Investing in Africa is vital for peaceful world order - Annan

Noting that the world is continually being distracted from investing in Africa, United Nations Secretary-General Kofi Annan warned in a message today that there could be no "credible vision of a humane and peaceful world order" that did not also include a positive future for that continent.

"It has never been easy to draw the world's attention to investment opportunities in Africa," Mr. Annan said in a keynote address read out by Deputy Secretary-General Louise Fréchette to the African Capital Markets Development Forum in New York.

"That challenge has been made even more difficult by the situation in Iraq, which has monopolized media attention, diplomatic energies and much else for many months now, and looks likely to do so for some time to come," he said.

Stressing real progress being achieved across the continent every day, Mr. Annan said it would be deeply unfair to Africans and a mistake for the world to neglect those efforts. "There can be no credible vision of a humane and peaceful world order for the 21st century that does not include a positive future for Africa," he declared.

The meeting, organized by the UN Development Programme (UNDP) and the African Stock Exchanges Association (ASEA), brought together Wall Street money managers and analysts with leaders of African stock exchanges to discuss new investment opportunities that can build African development and ways to strengthen African bourses.

In her own statement to the meeting, Ms. Fréchette noted the enormous burden imposed by AIDS, but said it had not deterred African countries from trying to create an enabling environment for investment and business activity. The UN was eager to do its part in supporting such efforts, she added.

"What we need is action. That's where you come in," Ms. Fréchette declared, noting that the Millennium Development Goals - a set of targets for combating such issues as poverty, hunger, illiteracy, environmental degradation and discrimination against women - provided a template for moving forward.

"If we are to consolidate these gains and provide a catalyst for further progress, it is vital that the more experienced and established financial communities work in partnership with Africa and the United Nations," she said.