The Leader of INRI Evangelical Spiritual Church, Primate Elijah Ayodele, has advised African presidents to shun loans from the International Monetary Fund and every other organization but focus on indigenous companies spread across the continent in order to grow.
Ayodele gave the advice in a statement by his media aide, Osho Oluwatosin.
According to the Primate, the solution to Africa’s problem can never be solved by the loans from any organization. He stated that there are indigenous manufacturers and producers in every African country that can make the continent a better place if they get support from the governments.
He said, ‘’The African continent will only develop if our Presidents support home made goods and indigenous companies. We have companies in Tanzania, South Africa, Kenya, and other countries that the government should support in order to grow the continent.
“In every African country, we have citizens that have businesses that should be supported in order to expand. In Africa, we have Anglogold Ashanti, Sonatrach, Sonangol, ONEE, Naftal, Safaricom, BUA, Dangote, Globacom, Innoson Motors and many others in the continent that are doing very well. The governments should see ways to partner with them instead of relying on IMF, AFDB loans. If we don’t encourage our home made products, the continent will not develop.’’
He stated that with the continent’s natural resources, there should be no need to be dependent on loans and foreign support.
He said, “We have natural resources that can make the continent become independent but the governments don’t appreciate them. Presidents shouldn’t be fighting their indigenous manufacturers because there is so much to gain from supporting them. The continent isn’t supposed to suffer with the enormous indigenous manufacturers and resources we have, let’s support them to grow the continent.’’