SA President Cyril Ramaphosa addresses UN United Nations private sector forum on Building & Investing in Peace for All, in New York. Picture: Yandisa Monakali/Dirco

Johannesburg -  Many of the world's conflicts, particularly in Africa, arise from developmental challenges and many countries often slip back into strife because peace agreements have not been followed by post-conflict reconstruction, South African President Cyril Ramaphosa has said.

In a speech prepared for a private sector forum on "Building & Investing in Peace for All" on the sidelines of the United Nations General Assembly in New York on Monday, Ramaphosa said the efforts of  the UN's Peacebuilding Commission could only succeed with the support of political leadership and their partners like those in the private sector.

"Peace, stability and the rule of law are critical for economies to thrive and for businesses to achieve sustainable returns for shareholders," he said. "The private sector, therefore, has a direct interest in the preservation or restoration of peace."

Ramaphosa said as many countries emerged from conflict, they faced the challenge of rebuilding the state, including building infrastructure, establishing resilient public institutions and restoring the economy to health.

"This is where the private sector can play a critical role, working in partnership with civil society and political leadership," he said.

"Investment is necessary to promote economic progress and stability, while stability is an important condition for investment."

African News Agency (ANA)