Gordhan said he believed that Africa would be emerging as “a key player" in the world economy in the next 30 years.
He was speaking at the Climate Investment Funds (CIF) Partnership Forum, an annual event hosted by the African Development Bank (AfDB) and the World Bank where funding decisions on climate-smart development worldwide are taken.
“What Africa does require is that traditional paradigms of funding and aid need to be transformed," he said.
“A new formula which links action on climate change to genuine development for the peoples of Africa for industrialisation and economic development… is needed."
Such initiatives should be directed at genuine job creation and skills development “and urgent and systematic processes that will eradicate poverty on this continent as well," he added.
Gordhan said he was “a firm believer" that Africa would become the site for research and development for new technologies and policies to fight climate change. Read the full report here.
Source: Donwald Pressly, Business Report, IOL.
