Africa: 'Africa - a place where you will make money, not lose money'

Africa needs to reduce its dependency on foreign aid and get to the point of financing its own development, some of the continent’s key development experts say. Timing is optimal now that Africa is experiencing an economic boom with annual growth rates of up to eight per cent. 'Africa has become a place where you will make money, not lose money,' said Graca Machel, the wife of former President Nelson Mandela and a renowned women and children’s rights activist. She addressed delegates at the 'Money, Power and Sex: the Paradox of Unequal Growth' conference organised by the Open Society Institute of Southern Africa May 22 to 24 in Cape Town, South Africa.