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Submitted by Steve Doe on
The leaders of many African countries say that they want their countries' development to be private sector-led. Yet their actions are to the contrary. A change of government is almost guaranteed to result in the new government reneging on existing contracts signed by the previous government. Why would any private investor waste his/her time and money investing in infrastructure in Africa at the risk of losing the capital? There is a saying that money flows where it is treated best and the BRIC nations seem to be the ones treating money best so that is where most of the foreign direct investments are flowing. Until successive African governments create a stable business environment where private property and contracts are honoured, it will be difficult for Africa to make significant progress in private sector-led infrastructure development.