Shell Energy Entrepreneurs banner Yudala banner
5 African Presidents, continent’s top business leaders call for increased private-sector participation in Africa’s development

By News Express on 25/07/2013

Share on facebook Yahoo mail icon Gmail icon

Views: 4,594


BRAZZAVILLE, Republic of the Congo, July 25, 2013/African Press Organization (APO)/ – At the second annual Forbes Afrique Economic summit, Presidents Denis Sassou N’Guesso of Congo, Macky Sall of Senegal, John Mahama of Ghana, Blaise Compaoré of Burkina Faso and Jacob Zuma of South Africa all highlighted the importance of private-sector participation in Africa’s development.

The summit, which focused on infrastructure and the emergence of an African middle class, was attended by global leaders from the private, public and philanthropic sectors including former UN Secretary General Kofi Annan, former prime minister of Belgium Guy Verhofstadt, former US Ambassador and Atlanta mayor Andrew Young, President of the leading opposition party in France, the UMP’s Jean-Francois Copé, as well as African business leaders Tony Elumelu, Patrice Motsepe and Louis Ebata.

The tone was set by President Denis Sassou N’Guesso, who highlighted the need for African countries to create more policies to support what he called ‘a powerful emergence of Africa’s middle class’ who would create a better future for Africa. Macky Sall, President of Senegal, expanded on the four critical pillars that would drive this ‘better future’, citing education and training of human capital, modernised and mechanized agriculture, affordable energy and an adequate network of infrastructure as key drivers.

Advocating for increased private-sector participation in driving the development agenda, President John Dramani Mahama of Ghana warned against an overreliance on government when he said, “Government cannot leverage the sort of finance that is needed to create enough power in Africa.”

In his speech, President Campaoré of Burkina Faso acknowledged business leader and philanthropist Tony Elumelu, the Chairman of pan-African proprietary investment company Heirs Holdings for his efforts to drive Africa’s development by investing across the continent.

During the panel session on “Supporting growth through investment”, which featured the two most high-profile private-sector leaders in attendance, Elumelu and South African billionaire Patrice Motsepe, Chairman of African Rainbow Minerals, Elumelu commended the five African leaders for their strong belief in the power of the private sector as a catalyst and driver of development – the essence of his Africapitalist philosophy which other leaders, including President Obama, appear to have embraced.

Elumelu outlined the terms under which the private sector’s involvement would yield the greatest impact, highlighting long-term investments and infrastructure development as key focus areas.”Short-term investments in Africa simply don’t make an impact. It took close to two decades to get United Bank for Africa to where it is today – employing 25,000 people in 19 African countries. African leaders need to ensure the right physical and policy infrastructure is in place to support the growth of more successful pan-African businesses,” said Elumelu.

Capital such as the USD40 trillion dollars ex-US Ambassador Andrew Young called ‘scared money’, currently sitting in tax havens around the world and which could be put to better use in developing Africa.

Kofi Annan described Africa as a continent going through “momentous times”, highlighting ‘energy’ and ‘infrastructure’ as the two biggest impediments to development. He listed the three pillars of peace and security, economic development, and the rule of law and respect for human rights, as the solution for Africa’s economic success.

•Photo shows Tony Elumelu, one of the African business leaders at the summit.

Source News Express

Posted 26/07/2013 01:10:01 AM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Dogara calls for permanent solution to Niger Delta...

Nigeria deploys 700 troops to Liberia for peace...

Terrorists die en masse as Boko Haram suffers...

Kwara to generate N2bn monthly

Adesina charges online publishers on credibility

CAN declares support for National Dialogue, inaugurates 6-man...

Oshiomhole accuses FG of 419 over N800m water...

EFCC begins Dasuki’s trial in alleged N2bn fund...

BREAKING: Buhari presents 2018 budget proposal of N8.6...

CNS completes on-the-spot assessment tour of Naval Outpost...

Jonathan under fire for dividing Anambra APGA; blamed...

72 Battalion lost 28 soldiers to insurgency in...

 

Latest News Music star Burna Boy in police net over armed robbery 4 killed, 160 wounded in Jerusalem protests NAF helicopters, fighter jets unleash fire on Boko Haram settlements Sultan to train 200 orphans caused by insurgency Muslim, Xtian leaders meet in Lagos Activists spoil for war with IGP over continued sealing of Peace Corps headquarters in defiance of court order Delta LG polls: Okowa predicts landslide victory for PDP Lagos CP orders arrest of female lawyer over alleged abuse of house help Supreme Court dismisses appeal to stop investigation into N1.8bn subsidy fraud PDP convention: Reconciliation in South-West successful, says Dickson All set for multiple celebration of Obuah in Port Harcourt Expect hazy, sunny, cloudy weather today – NiMet

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (301,756 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (286,549 views) Shameless Genevieve Nnaji exposes breasts in public (231,176 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (193,899 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (183,724 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (170,868 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (147,570 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (132,763 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (130,955 views) Lagos plane crash: Journalist releases victims’ names (119,410 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (115,773 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (112,580 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (33) Business (2,823) Business Verdict (30) Columnists (779) Complaints & Requests (94) Enterprise & Opportunities (195) Entertainment (421) Features (523) Global Business Monitor (196) International (1,693) Interviews (138) Live Commentary (28) Love Matters (92) News (31,059) Opinion (845) Pidgin (9) Politics (4,224) Religion (654) Sports (1,381) Stock Watch (25) AMA & Al Jazeera Global Update

 

CBN Banner advert

CBN Words on marble

 

 

MOBO Awards

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement



 

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!