WORLD BANK PRESIDENT JAMES WOLFENSOHN ARRIVES LATE TODAY (WEDNESDAY) IN SOUTH AFRICA, THE THIRD STOP ON A FOUR-NATION AFRICAN TOUR AIMED AT HIGHLIGHTING ECONOMIC PROGESS IN THE REGION.JAMES WOLFENSOHN IS USING HIS AFRICAN TOUR TO FOCUS WORLD ATTENTION ON ECONOMIC IMPROVEMENTS IN SUB-SAHARAN AFRICA WHERE 24 COUNTRIES HAVE ACHIEVED ECONOMIC GROWTH THAT IS MORE THAN FOUR PERCENT ABOVE THE INCREASE IN THEIR POPULATIONS.
WORLD BANK OFFICIAL FANI ZULU SAYS THE BANKING GROUP'S PRESIDENT HOPES THAT BY SPOTLIGHTING THESE ACHIEVEMENTS, HE WILL HELP MAKE AFRICAN COUNTRIES MORE ACCEPTABLE AND ATTRACTIVE TO FOREIGN INVESTORS.
MR. WOLFENSOHN'S HIGH-POWERED DELEGATION INCLUDES BOTH OF THE BANK'S VICE PRESIDENTS FOR AFRICA. HE SAYS WHILE THERE IS NOW REAL PROGRESS ON THE CONTINENT, IT REMAINS FRAGILE. HE SAYS GROWTH MUST INCREASE GREATLY TO IMPACT ON WIDESPREAD POVERTY ON THE CONTINENT. BUT HE SAYS, WITH TWO CONSECUTIVE YEARS OF GROWTH, AFRICA IS BECOMING A GOOD BUSINESS DESTINATION.
THE BANKING LEADER COMES TO SOUTH AFRICA AFTER VISITS IN SENEGAL AND GHANA WHERE HE ONCE AGAIN EMPHASIZED THE IMPORTANCE OF PRIVATE INVESTMENT AND THE NEED TO ENCOURAGE IT.
HE ALSO REPEATED EARLIER WARNINGS THAT AFRICAN COUNTRIES MUST STAMP OUT CORRUPTION SAYING IT IS HIGH ON THE LIST OF FACTORS THAT DISCOURAGE INVESTORS. HE SAID THE BANK WILL ESTABLISH A BLACKLIST OF CORRUPT OFFICIALS IN AFRICA AND WILL IN FUTURE DECLINE TO DEAL WITH THEM.
LOCAL WORLD BANK SPOKESMAN FANI ZULU SAYS IN ADDDITION TO THE BROAD OBJECTIVES OF HIS MISSION IN SOUTH AFRICA, MR. WOLFENSOHN IS ALSO FULFILLING A PROMISE MADE TO PRESIDENT NELSON MANDELA TO VISIT HERE AS OFTEN AS POSSIBLE. ALSO, SAYS MR ZULU, MR WOLFENSOHN AND MR. MANDELA WILL DISCUSS HOW THE WORLD BANK CAN ASSIST SOUTH AFRICA TO MEET ITS PROMISE TO EXPAND DEVELOPMENT IN THE SOUTHERN AFRICA REGION.
FROM HERE, MR. WOLFENSOHN GOES TO NEIGHBORING MOZAMBIQUE WHICH THIS MONTH RECEIVED 100-MILLION DOLLARS IN ECONOMIC RECOVERY CREDIT TO ASSIST IN PRIVATIZING STATE BANKS, PORTS, AND RAILWAYS. THIS IS THE FIFTH SUCH RECOVERY-LINKED CREDIT GRANTED TO MOZAMBIQUE, WHICH IS CLASSIFIED AS ONE OF THE WORLD'S POOREST NATIONS.
12-Feb-97
Source: Voice of America