Moi Calls For Regional Stability

Aug 20, 2001

Kenyan leader Daniel arap Moi has called upon regional heads of state to cultivate a culture of peace and political stability to ensure economic stability.

By Vision Reporters Kenyan leader Daniel arap Moi has called upon regional heads of state to cultivate a culture of peace and political stability to ensure economic stability. Moi, who arrived yesterday and returned home, was addressing participants at the launch of the African Trade Insurance (ATI) at Speke Resort Munyonyo, Kampala, where the SMART Partnership dialogue is meeting. “The region must cultivate a culture of peace and political stability if we are to ensure economic stability. The growth of ATI will depend on the increasing participation of African countries. Hesitancy will not enable us to compete in the competitive global economy,” he said. ATI is a US$105m insurance fund providing political risk cover including war or civil disorder for foreign investors. Moi said Africa should strengthen its economic blocks like those of the developed countries such as the European Union. “We have blocks in Africa but we do not have money, no capital,” Moi said. He criticised the foreign press for betraying Africa by reporting only bad stories. “Non of the white journalists will undermine their own country at the end of the day. If you love Africa transmit factual information. You can’t call yourself a son of the soil when you are deceiving others or betraying the interests of the people. If you promote Africa you are promoting the interest of investors,” he said. He said Africans should co-operate to remove thuggery and conflicts which do not attract investors. He said no one had ever tried to find out why after 25 years people in Angola are still killing themselves and people are fighting in the DR Congo. “Let us put right what is wrong,” Moi said. Erastus Mwencha, ATI interim managing director, said ATI will create additional trade of $5b in the region. Uganda, Rwanda, Malawi, Kenya, Tanzania, Zambia and Burundi are ATI founders. Ends

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