The Director-General, World Trade Organisation (WTO), Dr. Ngozi Okonjo-Iweala, has called on African leaders to be proactive in mobilising domestic resources to attract new investments and drive economic growth.

Speaking on the sidelines of the African Union meeting in Ethiopia, the WTO chief advised that foreign aid should be considered a thing of the past, while fostering a self-reliant and sustainable future.

Dr Iweala stated that there’s need to channel pension funds into local economies rather than outside the continent noting that Africa holds approximately $250 billion In pension funds.

She also called for the recapitalisation of Africa’s multilateral Development banks to help with financing key projects in the continent. She also highlighted the need to tap into diaspora funding or resources to the benefit of the African nations.

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