Wolfowitz stresses private-sector role in Africa

By Alex Singleton | 24 June 2005

Dr Paul Wolfowitz has taken like a duck to water in his new role as World Bank president, rightly seeing the importance of private investment in creating a thriving Africa:

New World Bank President Paul Wolfowitz encouraged business leaders on Thursday to look for, and help expand, opportunities in Africa as the continent strives to turn a corner on development.

The former Pentagon official told a dinner meeting of American and African business leaders a flourishing private sector was vital to Africa's prospects.

"The record of the last 50 years could not be clearer, that the countries that have developed successfully have developed strong private sectors," Wolfowitz told the U.S.-Africa Business Summit.