Africa worst hit by oil prices

"Transport, energy, water and telecommunication infrastructures in Africa also lag far behind the rest of the world," Lipenga said. It is through these unimpressive prevailing socio-economic conditions of Africa that heads of state and government of the African Union, according to Lipenga, adopted NEPAD as a novel framework for shifting the goalposts of the continent from poverty to prosperity.

The G8 summit in 2002 accepted the NEPAD framework as an innovative framework, which provided a platform for renewed partnership between the West and Africa. NEPAD was also hailed as a timely intervention that is capable of helping the continent meet the global targets of the Millennium Development Goals.