Africa is now proclaimed as the world's most profitable region, according to leading economists. Also, the UN Economic for Africa/OECD publication, African Economic Outlook finds that the continent is on the recovery.
Economic growth rates for the continent for 2012 are predicted between five point five and five point eight percent.
We need to consolidate and further strategise and agree collectively on what should be done going forward.
My sincere gratitude goes to all my colleagues for supporting the Infrastructure initiative as adopted in Kampala.
Africa, through NEPAD, should also strengthen its ties and collaboration with friends of Africa and existing multilateral partnerships.
The relevant Ministers, African Union Commission, NEPAD Planning and Coordinating Agency (NPCA), representatives from the Regional Economic Communities, and some partner institutions met last night to discuss progress regarding the Presidential Infrastructure Championship Initiative (PICI).
It is worthwhile perhaps to reflect again, that the objectives of the HSCOG is that it is tasked with prioritizing and consolidating infrastructure projects for high impact and results.
It has as its key drivers the acceleration of Regional Integration through infrastructure development by leveraging committed political leadership, sponsoring and championing of specific infrastructure projects, as key prerequisite for developmental success.
Whilst marking 10 years of the existence of the NEPAD programme as Africa's vision and blueprint for socio-economic development on our continent, we also realise that there is much to be done; we should therefore unite our efforts in pressing towards overcoming these challenges.
If we are indeed devoted to ensuring NEPAD continues to be a success, we must, as Africans ensure that we commit financial resources to this programme, individually, as states and collectively.
The involvement of the private sector remains critical to advancing the ideals of our infrastructure initiative.
We must therefore embark upon mutually beneficial Public Private Partnerships (PPP) in championing our projects. The involvement of Pan African Funding Institutions is also critical to provide us with the technical support and financing mechanisms for these projects.
We must, however be mindful of the role that private equity funds and infrastructure development funds can play in raising additional funding from domestic resources.
The global economic crisis has increased the number of priorities competing for public funds.
Traditional models of financing and delivering infrastructure must give way to new models. Across the continent, governments are forging partnerships with the private sector to deliver infrastructure projects. Public-private partnerships bring together the resources and expertise of the public and private sectors.
First, what are the main responsibilities of governments within the region Are there political, legal or policy constraints that need to be addressed to promote public-private partnerships?
Second, what do we want to do in our own countries We need to be clear about our infrastructure needs, as well as the assets needed to meet those needs?
We must ensure, that NEPAD continues to embody the vision of Africa that we seek to achieve.
We must therefore ensure that we unite, through the NEPAD programme, the war against poverty, hunger, homelessness and under-development, by ensuring that these programmes are sustainable.
President Zuma interacting with Deputuy Minister for Performance Monitoring and Evaluation in the Presidency Dinah Pule, Deputy Minister of Finance Nene and Minister for Human Settlement Tok.