New Delhi, Oct 13 (PTI) Africa could be the next century's economic growth engine, and Larsen & Toubro hopes to be a part of its journey, L&T chief executive and managing director S N Subrahmanyan said on Tuesday.

He was addressing a session on Reimagining Resilient Africa during FICCI LEADS 2020 event.

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"Africa could be the next century's economic growth engine...We hope to be a part of the ecosystem of Africa. Make India proud and Africa proud," Subrahmanyan said.

Africa would require new investment to the tune of USD 25-30 billion in the next decade to meet its requirement, as per a Ficci statement.

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"This is an absolute necessity, and it will come into play not only via physical infrastructure, including health centres, hospitals, better medical facilities but also through digital health connect. L&T will do whatever required to develop the African continent," Subrahmanyan said.

R V Kanoria, former Ficci president, said Africa could be the answer to the food security needs of the world.

Africa has developed to attract investments from emerging markets. African countries offer a decent return on investment, loyalty to the relationship and long-term prospect, he added.

Busi Mabuza, Chairperson, Industrial Development Corporation, South Africa, mentioned that COVID-19 has pushed Africa into recession.

She said Africa needs to focus more on the African value chain, education system, infrastructure, financial services, health facilities to become a resilient nation.

She also emphasized that Africa should focus on cybersecurity and data privacy.

(This is an unedited and auto-generated story from Syndicated News feed, LatestLY Staff may not have modified or edited the content body)