Geingob calls on foreign investors to do business in Africa

29 Aug 2019 18:40pm
By Isabel Bento
YOKOHAMA, 29 AUG (NAMPA) – Namibian President Hage Geingob emphasised the importance for foreign investors wishing to do business in Africa, to do so on the continent’s terms.
Geingob was speaking during a plenary session on Public-Private Business Dialogue on Thursday, during the 7th Tokyo International Conference on African Development (TICAD7) taking place in Yokohama, Japan.
“Africa is open to do business with the world, as demonstrated through the established India-Africa; China-Africa; USA-Africa summits and the first Russia-Africa Summit due later this year. Africa is also open to do business with Japan and Namibia in particular, is a country governed through processes, systems and institutions and the rule of law, where predictability is guaranteed,” said Geingob.
He added that his country is an open-economy and ready to do business with foreign investors.
“Our economic growth trajectory is centred on a dynamic private sector. We have for this reason adopted legislative frameworks to leverage public-private-partnerships, to enable inclusive growth and shared prosperity,” Geingob said.
He highlighted the newly announced key public policy reforms to enhance ease of doing business and facilitate the movement of goods and services in Namibia, saying these reforms have bolstered investor confidence, resulting in important private sector commitments in the economy.
President Geingob also called on the gathering to harness technology in order to build climate resilient communities both in Africa and Japan.
“Japan has always pushed the frontiers of innovation, so I invite your private sector to share expertise, in support of our enterprise development efforts as a vehicle to creating sustainable jobs for our young people,” he urged.
Meanwhile, South African President, Cyril Ramaphosa outlined the continent’s two ambitious programmes namely Agenda 2063 which is the continent’s roadmap for the next four decades as well as the recently signed African Continental Free Trade Agreement, aimed to open up the continent for commerce and trade.
“It is therefore important for the Japanese companies to reflect and embrace these developments that involve and form the content of African business. The Japanese companies should take account of the reality of Africa for partnerships between Africa and Japan and our continent will never be better than it is now,” Ramaphosa said.