I'll add to what Dr. Roberts has said and underscore two points. One is that, not only did these countries have a comprehensive strategy in engaging with Africa, China and India in particular, but also they followed with financing, affordable financing for their entrepreneurs to trade and build companies and also to ensure value addition. The Bank of China and the Bank of India have followed the businesses.
We have compared that to, for example, FinDev Canada. FinDev Canada's commitment to Africa and the amount of resources they have to invest in Africa pales in comparison. It's not even enough for one country investment.
Then, the return on investment expected is also a key issue that one has taken on, because the cost of capital and the risk premium associated with investing in Africa is too high, is unfair and is linked to the lack of data.
I would suggest, in partnership with organizations such as ONE and many of the academic institutions in the room, that we really produce high-quality data in Canada, like ONE has done, with a trade report that demonstrates what we are missing out on if we don't put our money where our mouth is. It's affordable financing and it's increasing the investment appetite and following Canadian businesses to priority countries where there is a return on investment and where that can be demonstrated.
We also mentioned trade missions. If you look at the trade teams in every priority African country that China has built up, they're in it for the long game. They have equipped their embassies with knowledge, insights and very committed engagement on the ground. We've seen that quite reinforced in countries like Nigeria, where I am from.
The final thing I'll say is that for me, it's also critical that we change narratives. We have been working a lot with the diaspora populations in Canada to change the face of Africa from that of a hungry child to that of a successful female entrepreneur. What are we introducing into the Canadian curriculum?
If you speak to the average Chinese young person, they'll tell you what Africa has to offer China. The average Canadian citizen doesn't know where Nigeria is on the map or doesn't know what Nigeria or Morocco have to offer to Canada.
Thank you.