Shell Nigeria Yudala
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: 3,353


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 25/07/2013 7:10:01 PM

 

Share on facebook Yahoo mail icon Gmail icon


 

CLASSIFIED ADS

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

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

 

You may also like...
Saraki orders review of National Assembly security

Certificate saga: Buhari taking Nigerians for granted; he’s...

Senate committee moves to address B.Sc., HND dichotomy...

Apostle Suleman writes Keyamo, demands N1 billion

RIGHTSView: ABIA STATE and the return to GESTAPO...

RIGHTSView: KADUNA’S ANTI-GRAFT WAR

Nigeria’s inflation rises to 18.48 percent in November...

Rapper cuts off penis, jumps from building

20 quoted South African firms lie about turnover...

Alleged hackers infiltrate bank account, docked for withdrawing...

Electoral malpractices: INEC to prosecute corrupt officials

Reps to probe over $17bn crude oil and...

 

Latest News Boko Haram kingpin arrested in Ekiti Sacred Cow: EFCC refusing to investigate hot petition against Ex-Governor Oshiomhole •Petitioner cries out ASUU demands immediate payment of outstanding salaries Why we demolished Otodo Gbame (Lekki) community: Lagos Govt. 4 dead, 20 injured in London ‘terror’ incident Adoke/EFCC: Crude oil conversations THE FUTURE AWARDS or backward denigration? Marine Police recover body of medical doctor who jumped into Lagos Lagoon Rivers PDP blames APC chieftains for continued Ogoni violence Amnesty chief brokers partnership between Akwa Ibom and Innoson Motors Ultra-modern shopping plaza springs up in Aba Umahi to Southern churches: Assist your counterparts in the North

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (234,161 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (212,768 views) Shameless Genevieve Nnaji exposes breasts in public (176,941 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (161,760 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (150,231 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (132,894 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (116,284 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (115,498 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (103,056 views) Lagos plane crash: Journalist releases victims’ names (98,613 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (93,231 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (87,135 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,495) Business Verdict (14) Columnists (653) Complaints & Requests (81) Enterprise & Opportunities (142) Entertainment (292) Features (406) Global Business Monitor (142) International (1,306) Interviews (116) Live Commentary (28) Love Matters (46) News (22,597) Opinion (659) Pidgin (8) Politics (3,622) Religion (488) Sports (1,241) Stock Watch (15) AMA & Al Jazeera Global Update

 

 

JAMB Sale of 2016/2017 UTME/DE applications

 

CBN Advert

 

Mohammed Anas thanks 'wife and girlfriend' (full interview)

 

APO Newsbreak logo

 

CLASSIFIED ADS

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

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

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!