Business News of 2014-06-27

Premier Brey calls for development of African skills

The Prime Miniter of Spain, Mr Mariano Rajoy Brey, on Thursday said Africa's development in the coming years would depend on the development of skills that would provide appropriate technology and expertise to catapult growth.
He said although Africa was abounding with numerous natural resources, lack of skills and expertise from its people had over the years hindered the continent’s orderly progress and development.
Mr Brey, who was speaking as the Guest of Honour at the 23rd Ordinary session of heads of state and governments at Malabo, Equatorial Guinea, said Africa had the task of providing an environment that would create vibrant trade and business opportunities that would make them a mighty industrialized authority in the world. The opening session was attended by President John Dramani Mahama, heads of state from other African countries, observers and members of the Diplomatic Corps, business partners among others.
The Spanish Premier said though it looked difficult for Africa to immediately industrialize and make good use of their natural resources and raw materials, the fundamental way was through democracy, rule of law and transparency that would draw the attention of development partners to achieve those goals.
"In growing business in this unique continent called Africa, there is the need to use democracy, peace, stability, non- racism, equality and solidarity in the continent to achieve the huge potentials that you have," he added.
He condemned political crisis in Africa, especially the activities of Boko Harem in Nigeria adding that such activities were inimical to development and growth and urged the African leaders to fight against that trend in the continent. Mr Brey expressed regret that investment in Africa had been minimal in spite of her longtime trade links and partnerships with Europe and other continents over the years.
He called on African leaders to establish strong institutions including firm legal frameworks that would enhance their industrialisation and attract investors. Mr Mohamed Ould Abdel-Aziz, Chairman of African Union, expressed satisfaction at the political progress in Egypt and Guinea Bissau, adding that it was incumbent on them to do better to raise the aspirations and expectations of their citizenry that had gone through mental torture as a result of the turmoil that engulfed their countries.
He appealed to leaders of the two countries to play pivotal roles in the development of their countries and the entire continent by developing strategies that would enhance African integration and industrialisation.
Mr Abdel- Aziz commended the international community for various roles played during the political disturbances in some African countries and pledged to continue to partner them in all aspects of their move towards agricultural development and industrialisation.
"Our bid for agricultural mechanisation and industrialisation should not be individual but collective enough to place us on the same springboard that will accelerate our development," he said. He called on member states to implement all the recommendations that would come from the deliberations to ensure food security in the continent.
Source: GNA
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