President Museveni has called on African leaders to embrace innovative solutions to the alternative ways of financing Africa’s development to overcome Africa’s development challenges.
“I invite all of us to discuss the alternative ways of financing Africa’s development. Africa is endowed with abundant opportunities and resources like agricultural products, oil and gas, minerals and tourism potential,” Mr Museveni said.
The remarks were delivered on Thursday August 21, 08, 2025, by Uganda’s Vice President, Ms Jessica Alupo on behalf of President Museveni during the 9th Tokyo International Conference on African Development (TICAD 9) 2025 Conference in Yokohama, Japan, hosted by Japan in conjunction with the United Nations, the African Union Commission (AUC), and the World Bank to discuss among other key issues, economy, society, peace, and stability.
In his speech, he also expressed concern over the declining flow of Foreign Direct Investment (FDI) to Africa, a trend he says poses significant challenges to the continent’s economic growth and development.
“We are burdened by the concern of the declining Foreign Direct Investment (FDI) to Africa which is affecting our economic development. We should think deeply on how to create an enabling environment for the private sector in Africa to thrive; we need to prioritise value addition for agricultural products, minerals, human capital development, artificial intelligence (AI), infrastructural development, and tourism, among other crucial sectors,” he said.
Museveni underscored the need to implement the African Continental Free Trade Area (AfCFTA) to solve Africa’s development challenges and enable Africa’s economy to compete globally, championed by the African Union Commission (AUC).
During the same conference, Mr Mahmoud Ali Youssouf, AUC Chairperson, called on governments, development partners, the private sector, and civil society to renew their commitment towards innovation-driven collaboration for quality infrastructure and innovation, calling for advancement in the digital economy a key to a sustainable future.
“Together, we can co-create solutions that are not only transformative but also sustainable and inclusive, ensuring that no one is left behind. I urge for a renewed commitment to innovation-driven collaboration. There is a need to advance the digital economy, and related education, and opening the horizon to this vast potential is the future we all need to work for,” Mr Mahmoud Ali Youssouf said.
Mr Cyril Ramaphosa, the president of South Africa, called on the global leaders to champion the health, dignity and potential of women, children and adolescents as the cornerstones to fair, prosperous and peaceful world.
“Africa is not seeking aid; we are seeking partners who understand value co-creation, sustainable development and mutual industrialisation. It is an honour to stand before you as the chair of the global leaders network for women’s, children’s and adolescents’ health,” Mr Ramaphosa emphasised.
The 3-day TICAD 9 conference kicked off August 20 to until August 22, 2025 themed “Co-create innovative Solutions with Africa” the conference that attracted key delegations from Africa and International community to discuss the promotion of value-added exports from Africa to Japan, encourage Japanese investment in green technology, and electronics manufacturing.
