Dr. Tedros Adhanom Says “Africa is the New Eldorado” at a Chatam House Discussion

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Photo: Dr. Tedros Adhanom, Ethiopia’s Foreign Affairs Minister

LONDON, UK – 13th May 2013

Ethiopian Foreign Minister and Chairman of the African Union Executive Council, H.E. Dr. Tedros Adhanom, told a Chatham House platform that Africa, which was once the marginalised continent, has now emerged, as some put it, “the new Eldorado”, at a time when much of the developing world is suffering from the economic slump, thus rekindling a great sense of hope and optimism.

Africa’s profile on the world stage has been raised and it is no exaggeration to state that Africa has now become a force to be reckoned with. Speaking at a discussion titled “The Future of the AU: Fifty Years of the Organization of African Unity–African Union”, the Minister thanked the think tank for organising the debate as it was relevant in light of the celebrations of the Golden Jubilee of the OAU/AU, which gave the opportunity
to take stock of the achievements and shortcomings, as well as the prospects and challenges of continental organization.

Dr. Tedros noted that Africa is attracting a growing interest both from developed and emerging economies, as a new frontier for untapped business and investment opportunities. “Over the last decade, improved macro-economic governance, coupled with better prices for African commodities on the international market have enabled African countries to register robust growth, in spite of the global economic crisis…some of the countries like Ethiopia are now among the fastest growing economies in the world,” he said.

Quoting Pan-Africanist Ghanian leader, Kwame Nkuruma, “United we stand, divided we fall”, Dr. Tedros urged African states and its peoples to …

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