PPPs key to development
BUSINESS| Oct. 27, 2011, 8:34 p.m.
Rwandan President Paul Kagame has told the Commonwealth Business Forum that public-private partnerships are crucial for the developing world.
President Kagame said in his address at the meeting of the 54 Commonwealth nations that the goals of business and governments are increasingly inseparable.
He said only business, trade and private sector investment have the potential to improve lives and create prosperity for all. He encouraged leaders of governments to let business leaders take a more central role in enhancing the public- private partnerships model.
“I sometimes reckon that we political leaders should take a back seat and allow business leaders to be the drivers of innovation, entrepreneurship and wealth creation. Governments’ focus should largely be to carry out necessary investment, business and trade-related reforms and generally create an environment that allows businesses to flourish.”
He pointed out that aid alone cannot effectively deliver better standards of living to the citizens of the developing world.
“We need to tap into the spirit of business enterprise and innovation that is so ubiquitous here, and harness the potential market of an estimated 1.2 billion people. We must optimise the opportunities that come with the diversity of the Commonwealth countries and fully leverage it to the benefit of our citizens,” he said.
Australian Prime Minister Julia Gillard said in her keynote address that the Commonwealth was enthusiastically looking at opportunities in Africa and Asia as growing markets. "One day, perhaps we will talk of the African century,” she said, noting that Sub-Saharan Africa as a whole is expected to grow at over twice the pace of the developed world.
The event includes investment showcases by various member nations, with deals worth at least USD10.5 billion reported to have been sealed on the sidelines of the business conference this week. The forum preceded the Commonwealth Heads of Government Meeting (CHOGM), which Queen Elizabeth II will formally open on Friday, attracting more than 1 400 delegates, including 16 heads of government.
MORE BUSINESS NEWS
The Tech Revolution: Sage Sets out the Vision for African BusinessesSage, a market leader in cloud accounting software used its global Sage Summit 2016, held this week in Chicago, to outline its strong commitment to future technologies, with a focus on new and existing initiatives that power business growth. Read More
Francistown Barclays gets cardlessCardless cash deposits have been launched in Francistown. Read More
Business incubator to boost 200 Zimbabwean entrepreneurs200 would-be Zimbabwean entrepreneurs are set to benefit from business training and support, thanks to a business development programme to be launched by business incubation specialist KBA Africa. Read More
Union gives Globacom 14 days to reinstate 54 sacked workersThe Private Telecoms & Communications Senior Staff Association of Nigeria (PTECSSAN) has urged Globacom to reinstate the workers it allegedly sacked from its service. Read More
British envoy promises more investors at Rack CentreMr Paul Arkwright, British High Commissioner to Nigeria, has promised to do his utmost to encourage more British companies to do business with their Nigerian Counterparts. Read More
UBA, Mastercard in pan-African partnershipUBA and Mastercard have announced a five year deal across 19 markets focused on driving financial inclusion in Africa. Read More
MTN Business partners with the National Gazelles to boost SMEs marketMTN Business today announced a new drive to help support the growth of small and medium enterprises (SMEs) and contribute to creating sustainable entities. Read More
Travelport appoints new Managing Director for AfricaTravelport has announced the appointment of Douglas Jewson as Travelport’s Managing Director for Africa. Read More
Brexit’s impact on AfricaThe short-term implications of Brexit for African economies will be mainly noticeable through market volatility, say Control Risks and NKC African Economics. Read More
Safaricom Blaze to take 2nd youth empowerment summit to ThikaSafaricom will this Friday, 8th July 2016, host the 2nd in a series of youth empowerment summits under its recently launched sub-brand, BLAZE. Read More
FEATURED STORYFirst-ever Africa Barclays Accelerator programme concludes
Ten fintech companies have concluded the first-ever Barclays Accelerator, powered by Techstars in Africa.
BEST READ NEWS
IN DEPTHEthical Hacking students can’t get a heck of a job
Botswana ethical hacking students report that they are failing to break into the local job market.
COMPANY NEWSThe Tech Revolution: Sage Sets out the Vision for African Businesses
Sage, a market leader in cloud accounting software used its global Sage Summit 2016, held this week in Chicago, to outline its strong commitment to future technologies, ...