‘Entrepreneurs can foster African development’

By Editor   |   05 November 2015   |   12:13 am  

map of africa-positivewww

map of africa-positivewww

A Nigerian businessman, Chris Baywood Ibe, has advised African leaders and governments to empower their entrepreneurs to facilitate intra-trade as a way of achieving rapid socio-economic growth and development on the continent.

He said no one would develop Africa better than Africans, thus re-echoing President Barack Obama’s recent charge on his visit to Kenya that “unlocking the next era of African growth is not with the United States; it’s gonna be in African trade with each other.”
 
Delivering a paper titled “Intra-Africa trade: The key to unlocking Africa’s trade potential,” at the recent 2015 UK-Uganda Trade and Investment Convention, in London, Ibe, who is the President and Chief Executive Officer of Baywood Group, called for economic, social and fiscal policies in African economies to enable African entrepreneurs compete favourably with their global counterparts.

“African governments need to establish attractive tax regimes, eliminate barriers to inflow and outflow of African-owned investment funds, develop requisite manpower through targeted-capacity-development initiatives and review import policies which stifled local businesses as well as create a pool of funds to be accessed by African entrepreneurs for in-country business startups and expansion.”
 



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