• Wednesday, November 29, 2023
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Insurers task African governments on infrastructure development


 African Insurance Organisation (AIO), the continent’s body of insurers, as well as stakeholders, has canvassed for increased investments in infrastructure by African countries to boost economic development.

At the ongoing 40th conference of the AIO, it was unanimously agreed that African countries must begin to develop infrastructure like roads and waterways along their economic corridors in order to boost international trade and diplomatic relations among nations in the continent to achieve sustainable economic growth.

This is because continued reliance on China and other European countries for assistance rather than developing local economies through trade and exchange would not only make the continent vulnerable to global crisis as seen in the last four years, but will continue to deepen poverty and suffering among Africans.

These were the observations of stakeholders at the ongoing 40th African Insurance Organisation (AIO) conference which started Monday at the Mariot Hotel, Cairo, Egypt.

They noted further that Africa had for a long time placed its hope on the rest of the world, entrenching high level poverty, sickness, hunger, decaying infrastructure and lack of economic development.