Chief Richard Akinjide Visits UCT Law Faculty

25 Mar 2014
25 Mar 2014

Chief Akinjide highlighted that today the global attention on Africa derives from its economic prospects. He emphasised that a teeming and youthful population, mineral rich fertile land, numerous business opportunities all contribute to high economic growth. However, economic growth cannot merely reside in statistics, but must promote domestic development in terms of translating to significant improvements in job creation, income levels, education, health and general welfare of the population. In this regard, he advocated that productive investors who create internal wealth must be preferred over extractive investors who extract and remove existing wealth from the system in which they operate.

He concluded by highlighting four essential conditions for capital investment projects to translate into durable development, namely: sufficient quantities of such projects, the right quality of such projects, the balanced distribution of these projects to address various strategic needs and the continuity of these projects over a reasonable time span.