Ease of business is a priority - Ramaphosa
CAPE TOWN - President Cyril Ramaphosa said African countries, like South Africa, need to prioritise ease of business, infrastructure development and address corruption if they are to position themselves as attractive destinations for foreign investment.
He was speaking at a panel discussion that involved the presidents and prime ministers of Zimbabwe, Seychelles, Namibia, Botswana, Ethiopia, eSwatini, and included the UN deputy secretary-general Amina Mohammed at the World Economic Forum Africa 2019 in Cape Town.
Ramaphosa said addressing the inadequate infrastructure would require “enormous resources” to rectify, but it was not impossible to raise funds through various private public partnerships, he said.
Botswana President Mohweetsi Masisi said accelerated reforms in that country began a year ago, and entailed opening up the economy; establishing transparent systems of government; strengthening the rule of law; establishing mechanisms for the quick settlement of disputes; opening up opportunities for the private sector; rolling out connectivity to every household and business; and supporting small businesses and entrepreneurs in the businesses that that the country could be good at.