Libya threatens to withdraw investments in Africa

Reading time 1 min.
Flag of Libya
Flag of Libya

Libyan leader Muammar Kadhafi Tuesday warned that Libya could withdraw its investments in Africa and direct them to the Mediterranean if the continent engaged in a racist policy or if it decided to neglect its future.

He did not elaborate.

Addressing the international press, the Libyan leader said if his country injected between US$5 and US$10 billion in the Mediterranean region, it would become the most influential country in that region.

After examining Libya’s current investments in Africa, Kadhafi noted that the company, Africa for Investments, had about US$1 billion while the Libyan oil company had invested some US$750 million in several African countries.

He said that all the money invested were Libyan funds injected into Africa and were given without any strings attached.

“These funds are invested to generate interests for Libyans instead of using them to purchase useless things such as firecrakers, Pepsi Cola or card games,” he said.

Libya  Read latest news and features from Libya : business, politics, culture, life & style, entertainment and sports
Support Follow Afrik-News on Google News