Africa’s Investment Climate, Development Finance and the Challenges of Meeting the Millenium Development Goals: Remarks by H.E President Benjamin Mkapa former president of the united republic of Tanzania

Abstract

Remarks by HE President Benjamin Mkapa Former President of the United Republic of Tanzania at the Conference of African Ministers of Finance, Planning and Economic Development Fortieth Session of the Commission. HE President Mkapa, on his remarks highlighted that; there is not a lack of studies, commissions, panels of eminent scholars and politicians that have sought to clarify the opportunities, constraints and strategic directions facing Africa and her development partners as they attempt to accelerate growth to reduce poverty and put the continent on a path towards meeting the Millennium Development Goals (MDGs). In the past decade, considerable reforms aimed at reducing government direct roles in the economy have taken place in several African countries as have improvements in tax systems, structures, and administration. These have strengthened the public fiscus, as for example in South Africa. A lot more, however, needs to be done before economically significant increases of tax revenues as a ratio of GDP can be achieved.