Maravi

‘African govts need to upgrade infrastructure’

‘African govts need to upgrade infrastructure’
Written by Kabanda Chulu
Thursday, June 11, 2009 12:57:07 PM

AFRICAN governments and their international partners will need to improve access to finance and upgrade infrastructure in order for the continent’s businesses to become more competitive.

According to the 2009 Africa Competitiveness Report released ahead of the World Economic Forum for Africa that begins tomorrow (Wednesday) in South Africa, limited access to financial services remained a major obstacle for African enterprises.

“But underdeveloped infrastructure, limited healthcare and educational services and poor institutional frameworks also make African countries less competitive in the global marketplace,” it stated.

“African businesses can become far more competitive, but African governments and their international partners will need to improve access to finance, resist pressure to erect trade barriers, upgrade infrastructure, improve healthcare and educational systems and strengthen institutions.”

The report also points to a number of success stories in the region that highlighted steps countries could take to improve the business environment.

The Africa Competitiveness Report 2009, reflects research efforts of three institutions namely, the World Economic Forum, the African Development Bank and the World Bank Group.

It is the second report on the region’s business environment to leverage knowledge and expertise within the three organisations. The report also presents an integrated vision of the policy challenges African nations face as they build a foundation for sustainable growth and prosperity.

Labels: INFRASTRUCTURE

posted by MrK @ 12:00 PM