Obasanjo, Soludo Speak On Unlocking Capital For Africa’s Development

CHRISTIAN ABURIME

Former Nigeria President, Olusegun Obasanjo and Governor Chukwuma Charles Soludo on Thursday, 12th May, 2022, spoke about keys to unlocking capital for Africa’s development.

They spoke as panelists at the 15 years anniversary celebration of the Africa Finance Corporation (AFC).

Also on the panel were Mr. Andrew Alli, CEO South Bridge and Mr. Solomon Asamaoh CEO Ghana Infrastructure Investment Fund. 

All the panelists share at least one commonality as contributors to the AFC and, in one way or another played a key role in unlocking the AFC’s journey to where it is now, having invested $10 billion dollars in Infrastructure projects in 35 Countries. 

Former President, Olusegun Obasanjo recounted how Prof. Chukwuma Charles Soludo mooted the idea as Central Bank Governor and how he supported the idea, which eventually paved way for Nigeria to lead the creation of Pan African Financial institution, having Prof Soludo as the key driver.

Obasanjo also said most projects usually fail in Africa because of lack of continuity and leadership support.

The former President, Obasanjo, continued that Prof Soludo’s doggedness and hardwork contributed immensely to the birth of the Africa Finance Corporation.

Governor Soludo asserted that it was President Obasanjo’s leadership disposition that made it possible for the idea to have yielded fruits. 

The Governor recalled how he communicated the idea of setting up the financial cooperation to President Obasanjo. And within 15 months, it became a reality after travelling to about 22 countries to raise funds for its establishment.

Governor Soludo said AFC is what Africa needs to move forward. He added that the continent needs visionary leaders who can provide the leadership to execute policies and ideas like President Obasanjo.

He stated that no matter how fantastic an idea is, without execution, it becomes a mere hallucination.

According to Governor Soludo, to stop projects’ failure, it must be public-driven and fully supported with a selfless determination on the part of the leader. 

He concluded by commending AFC for its financial support for African countries in infrastructural development, saying that its 15 years anniversary was worth celebrating.