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
Equity Group appoints Bhartesh Shah as COOEquity Group Holdings has announced the appointment of Mr. Bhartesh Shah to the Chief Operations Officer (COO) position. Read More
The nine top trends in CEM todayCustomer experience management that genuinely enhances customer ‘stickiness’ depends on new strategies and now mindsets, says Frost & Sullivan. Read More
MTN, former ATCON chief disagree over naira devaluationMTN Nigeria and a former president, Association of Telecoms Companies of Nigeria (ATCON) have disagreed over further devaluation of the naira. Read More
MTN Business launches Supplier Development Programme in MpumalangaMTN Business has reaffirmed its commitment to develop small and medium-sized enterprises (SMEs) within Nelspruit by extending its Supplier Development Programme (SDP) and Accelerator Programme (AP), the company’s enterprise development initiatives, to the Mpumalanga Province of South Africa. Read More
VMware appoints Senior Vice President and GM of EMEAVMware, a global leader in cloud infrastructure and business mobility, today announced the appointment of Jean-Pierre Brulard as Senior Vice President and General Manager of EMEA. Read More
InfoGraphics chief urges investment in tech start-upsThe Managing Director of InfoGraphics Nigeria, Chinenye Mba-Uzoukwu, has urged wealthy Nigerians to invest in tech start-ups. Read More
Convergence Partners acquires stake in Nigerian Fintech firmConvergence Partners has announced an investment of $20m for a strategic, minority stake in Venture Garden Nigeria. Read More
MTN Business augments its management team further with key strategic appointmentMTN Business SA has appointed an industry veteran, Mariana Kruger, as General Manager of Private Sector. Read More
SA Competition Tribunal approves Telkom-BCX mergerBusiness Connexion Group Limited has announced that the Competition Tribunal of South Africa has approved the proposed merger between Business Connexion Group Limited ("BCX") and Telkom SA SOC Limited ("Telkom") with the imposition of conditions. Read More
Kenyan SACCOS riding on innovation to attract customersAs confidence in mainstream banks remains low due to prohibitive interest rates, customers are embracing Savings and Credit Cooperatives (SACCO) as an alternative. Read More
FEATURED STORYYoung innovators shine during pitch sessions
Botswana saw an array of upcoming tech wizards selling their ideas during the Vendors’ Day pitch sessions this week.
BEST READ NEWS
IN DEPTHHigh tech homes: Just press play
High tech, digital homes where everything is automated and connected aren’t the stuff of science fiction any longer, says BNC Technology.