Private sector investment the wheel to drive africa to posterity
Private Sector Investment theWheel to Drive Africa to Posterity
Positive Growth For the last decade Africa has experienced great positive growth, and this has not gone unnoticed worldwide, according to the economist magazine dated 3rd Dec 2010 titled “Africa Hopeful Economies” the writer state that theses growth is bound to continue
IntroductionIt is quite evident that currently in Africa there is: Reduced conflicts, stability in majority of countries Most African countries are set to take off after India and China.
Case Study- Information Technology Vs Mobile Money In Kenya Information technology has been widely accredited for the success of (Mobile Money) M- Pesa services in Kenya, where it has had profound effect on: Banking and Transaction, SMEs, etc. Information technology has also been able to spur the growth of private sector; we therefore envisage the impact and success of private sector to supersede that brought initially by M-Pesa (Mobile Money)
Revolution of the Private Sector In Africa According to Mckinsey and company report titled “what is driving Africa” by Leke, Roxburgh et. al, dated June 2010, the authors writes that“private owned enterprise have increased openness, of trade,…. provided critical physical and social infrastructure and this has helped fuel Africa productivity”.
Areas of Potential In Private Sector In Africa1. High success in the support of private enterprises2. Strengthening of financial system3. Achievement of competitive infrastructure4. Great success in regional integrations and trade5. Promotion of stability and investment climate in Africa
ConclusionThe success in any free market economy to createjobs, create innovation, improve living standards andcreate wealth has been driven largely by Entrepreneurs, investors and private enterprise (that form the body of the private sector.)The role of the public sector in Africa will remain largely or belimited to regulatory, supervision and guidance.The Private Sector in Africa is the next big force to usher Africato a medium income continent in the next 50 year with notableinvestment in information technology, Agriculture, Energy, RealEstate, Infrastructure, Financial Services and Research.
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