INVESTMENT IN AFRICA

Press, Volume XCIX, Issue 29395, 23 December 1960, Page 11

INVESTMENT IN AFRICA

“Name Stinks” —Welensky

(Rec. 10 p.m.) SALISBURY, Dec. 21

Africa “stinks” as far as the chances for foreign capital investment were concerned, said the Prime Minister of the Rhodesian Federation, Sir Roy Welensky, today. Sir Roy Welensky, who arrived back from the London talks on the federation's future, said risk capital with Britons previously invested in South, Africa and Africa was no longer available because investors wanted guarantees. which African Governments could not give. He said he was still confident that “the Federation must continue,” American Associated Press reported“But nobody should get the idea that once the constitutional position has been finalised, foreign capital will pour into the federation,” he added.

Sir Roy Welensky and his Federal Government and party stood for partnership with Africans. He believed the British Government backed him on this because the alternative was “the surrender to racial nationalism.’’

The Prime Minister praised the conduct of those “moderate Africans” who took part in the London talks. The British now recognised these people as real patriots and not “stooges.” as they were called by the extremist nationalists. he added.

He said he hoped the Federal constitutional talks would be concluded by April or May.