African leaders support investment at summit

African political and business leaders reiterated their support for a plan to renew investment and economic growth on the continent at the close of a continent-wide economic summit.

More than 700 government, business and civil society representatives met in the coastal city of Durban for the World Economic Forum Africa Summit where discussions focused on the New Partnership for Africa’s Development, or NEPAD, the South African Press Association reported.

NEPAD, the brainchild of South African President Thabo Mbeki, is a push by the continent’s leaders to end war and corruption and set standards for good governance in a bid to increase international investment in Africa.

Investment in Africa from abroad now stands at 1.5% of total global investment.