Africa urged to improve infrastructure

Beijing. African countries have once again been advised to improve their infrastructure, energy supply, internet accessand and tax regimes so as to attract foreign investments.

The call was made during the recently concluded ‘Investing in Africa Forum’ at the Guangzhou City in Guangdong, China’s richest province.

Ms Haleh Bridi, the World Bank director for Africa External Communications and Partnerships (AFREC) unit in the Africa Region (AFR), told reporters here that industrialisation in Africa was one of the key issues for discussion during then two-day forum.

She said the emphasis was on use of solar energy in efforts to preserve energy in the continent.

She said participats also shared views and experince on the importance of enhancing Africa and China ‘Think Tank’ alliances.

The main duty of the ‘Think Tank is to conduct researches and offer technical advice to the two parties on various issues pertaining to cooperation.

Ms Bridi said participants resolved that more reserches be conducted on investments throughout the continent, and that both parties should efficiently implement the resolutions of the ‘Forum on China–Africa Cooperation (FOCAC) arrangement.’

She said China and African countries believe that favourable and good policies can enhance co-operation between them, and that the two sides should work together to address various challenges Africa grapples with.

As part of the implementation of the China-Africa FOCAC agreements, there has been an increase of financial support from the China Development Bank to the Chinese investors already with projects in Africa from USD$ 5 to 10 billion.

It was agreed during the gathering that there was a need to raise to raise initial capital to the Chinese SMEs entering Africa for the first time from $ 1 (Sh2100) to $6 (about Sh12600) billion.

This, she said, would pave the way for the availability of a co-operation spirit, job creation and sound industrial development plan.

South Africa’s President Jacob Zuma hailed the existing investments from China and asked more investors from China to invest in Africa, saying the Asian country was part of an initiative not only to get continent out of poverty but also rescue women from discrimination, which has been promoted by abject poverty.

President Zuma said it is the duty of Africans, who were at the hall and those back home to turn the continent into an industrial one iso as to overcome the challenges, which have remained there for quite some time now.

Benin’s President Patrice Talon boasted that his country has one of the best quality virtues for investment- namely peace and tranquility. “We have set good grounds of power transition even in my case I won in the second round after out-competing other 25 presidential aspirants,” he boasted.

Mr Talon, who assumed power in April, this year, said that the power rotational system has seen four parties producing presidents since independence of this country, which was formerly known as Dahomey. His country was once the centre of slaves during the slave trade era.

“We have overturned the dark history of slavery into a historical virtue, we do not want this history to be wiped out and this has now been the centre of attraction, and hence generating a good income to my country,” he added.

The President of the World Bank Group Mr Jim Yong Kim lauded efforts by the two parties in the forum, noting that efforts that have been reached so far shows that Africa is becoming a focal point of world development.

Dr Young Kim sais the six fastest growing nations (economically), according to the 2015 World Bank Report, are countries from Africa.

“Let this development not only maintain clean energy and create jobs, but also enhance the development of science and technology in the African continent,” he said.

He also advised African countries to improve their systems of water supplies, reliable energy, agriculture, education and sanitation. “At any rate, Africa must transform its agriculture from the subsistence to a commercial one,” he urged.

He challenged the negative trend where private companies emerge in Africa at the expense of the public sector, on the contrary he challenged that these should go hand in hand because they need each other. Moreover he critiqued the multinational companies in Africa which have been noted for tax evasion.

He called for African countries to learn from the China, a country that was at the same level of development with many African countries in the early 80s, but today, 35 years later, a quarter of world engineers emanate from China a fact which has contributed to its significant achievements.

The chairman of the China Development Bank Mr. Hu Huaibang said that his bank has contributed a lot in its efforts to develop the African continent. “My bank has funded many constructions of infrastructure projects including the Addis Ababa –Djibouti railway project which will be the biggest in Africa once completed.