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Investment: Africa as the new target for the world businessmen

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[NEPAD] – The greatest Chief Executive Officers of the world and Africa launched a Continental Business Network (CBN) today to boost the high-level private sector investments regarding the regional infrastructures of Africa.

The launch of the CBN outside the World Economic Forum that takes place in Cape Town, South Africa, is a compulsory continuation and corresponds to the implementation of the recommendations formulated during the Summit of Dakar on Financing (SDF) wanted by Macky Sall, the president of Senegal.

The executive secretary of the Agency of the New Partnership for the African Development (NEPAD) (http://www.nepad.org), Ibrahim Mayaki, declared that the CBN was approved by the NEPAD Heads of State and Government Orientation Committee (HSGOC) in June 2014 and brought a direct answer to facilitate the councils and the leadership of the private sector in the essential infrastructure projects of the NEPAD and Africa. Mr. Mayaki called on the private sector to take care of the future of the regional infrastructures development. “We are now moving from an exclusively public approach to a public-private mixed approach concerning the implementation of the African regional infrastructures. This new culture will be supervised by the instruments the CBN will offer“, he declared.

According to the SDF, the lack of capacity and fund in the preparation of projects and the low implication of the private sector are the main brakes for the implementation of the African regional infrastructures. The CBN is the pillar that was lacking to solve these problems, pointed out Momar Diop, the Ambassador of Senegal accredited in South Africa.

Africa can succeed if only all the actors of the public sector and the private sector combine their efforts“, added Elham Mahmoud Ahmed Ibrahim, Commissioner in infrastructure and in energy of the AU.

The opening ceremony of the CBN organized by the NEPAD Agency, gathered a representative sample of managers from the private sector who proposed recommendations to the African heads of States concerning the approaches and the necessary practical stages to improve the investment climate in infrastructures of Africa for the investment projects in cross-border infrastructures and other in Africa.

The CBN is an exclusive platform of investment advices in infrastructures intended for the African heads of States that proposes a commitment and a leadership well-informed about various strategic questions as politics, assessment of investment risk, projects structuring and more particularly the existing constraints as for the implementation of the Program of Infrastructures Development in Africa (PIDA). The network includes the main companies and the financial institutions of Africa and the world as well as the regional and international organizations.

 

Original text by: Roger ADZAFO

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