GTB 737 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: 4,076


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

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...
Nigeria must be restructured to enhance sustainable development...

Revealed: How Army, Civilian JTF recaptured Chibok from...

Imo spends N40bn on free tertiary education

Residents turn watchmen as robbers terrorise Iyana Ipaja...

Todd Rebello Captures Biggest Stack At Day 1b...

I have no plans to dump PDP for...

Okorocha rated worst performing APC Governor

Senators dismiss reports on ‘juicy’ committees

Car bomb kills 13 in Yobe

INEC postpones Saturday’s senatorial re-run in Anambra

Ex-ICPC Chairman tasks stakeholders on improvement of legal...

Tony Elumelu foresees Africa’s rise, calls for stronger...

 

Latest News Buhari’s speech leaks •His message for Boko Haram, Arewa Youths, IPOB, Niger Delta Militants, kidnappers, herdsmen/farmers Wike, Fayose, Ugwuanyi storm Anambra for PDP Ward Congress Chelsea rediscover winning formula, spoil Spurs’ Wembley opener FG, 36 states share N2.56tr — Investigations •Akwa Ibom, Lagos, 8 other states top list Mitee sues FG over failed section of East/West Road •Demands immediate, effective fixing of collapsed part of PH-Onne axis No alternative to Buhari — NUPENG PDP, APC cannot rescue Nigeria, says Pastor Bakare Fertiliser: NSIA releases new whistle-blowing numbers Osun declares public holiday for traditional religious festival Stakeholders hail NIMASA on new Cabotage implementation initiative 30 CSOs hold rally for Buhari Police open investigation into assassination of Benue Governor’s aide

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (272,196 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (254,102 views) Shameless Genevieve Nnaji exposes breasts in public (206,472 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (174,438 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (173,132 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (154,708 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (133,941 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (125,102 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (117,992 views) Lagos plane crash: Journalist releases victims’ names (109,418 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (108,724 views) APC cries foul as PDP’s Fayose takes early lead in Ekiti governorship election (101,272 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (27) Business (2,661) Business Verdict (19) Columnists (728) Complaints & Requests (92) Enterprise & Opportunities (172) Entertainment (352) Features (476) Global Business Monitor (170) International (1,497) Interviews (128) Live Commentary (28) Love Matters (67) News (27,616) Opinion (781) Pidgin (8) Politics (3,859) Religion (597) Sports (1,307) Stock Watch (23) AMA & Al Jazeera Global Update

 

UBA mobile app

CBN words on marble advert

 

 

Senator Adeleke on the dancing steps in London

 

APO Newsbreak logo

 

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

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!