African countries must get broadband Internet connections if they are to attract foreign investment, a pan-African technology conference said Tuesday.

The International Telecommunication Union (ITU) and African Development Bank (AfDB) jointly vowed to cooperate in connecting all African capitals and major cities with a broadband infrastructure and strengthen connectivity to the rest of the world by 2012.

Currently less than four percent of Africans have Internet access whilst the rate of broadband penetration barely reaches one percent, according to the ITU.

According to the World Bank, the cost of connecting to the Internet in Africa is the highest in the world, at some 250-300 dollars (175-210 euros) per month.

The AfDB chief Donald Kaberuka said that while private investment in information and communication technology (ICT) infrastructure, especially in mobile phone networks, had made an impact in the continent, major gaps still remain.

"The development banks and other financing partners have a responsibility to step in where these gaps are holding back development in the region," Kaberuka said in the joint statement issued at the end of landmark "Connect Africa" two-day summit in Kigali.

"The solution for African development is not charity," said Hamadoun Toure, the secretary general of ITU that organised the conference with supported from international bodies including the African Union and the United Nations.

"African countries need modern, reliable broadband ICT infrastructure to attract investment for jobs and economic growth. This is about economic independence and strengthening Africa's competitive position in the global economy," Toure explained.

At least 300 million dollars (207 million euros) will be invested in projects to promote ICT in Africa by 2012. In the joint statement released here, ITU and AfDB vowed to actively mobilize partners and funds to plug ICT broadband infrastructure gaps between the continent's major centres.

Better inter-connectedness is seen as key to developing the continent's economic potential as nearly 70 percent of Africa's Internet traffic travels through intermediary networks outside the continent, costing more for consumers, experts say.