The opportunities emerging for investors to play a part in Africa’s industrial expansion and intra-regional trade growth were among the topics explored by Kojo Aduhene, CEO of Ghana-based LMI Holdings, in a wide-ranging interview he gave recently to Oxford Business Group’s online broadcasting channel, Global Platform.
In the video, Aduhene told OBG that with individual countries now putting the necessary framework in place, the time was ripe for both the public and private sectors to begin addressing infrastructural shortfalls in priority areas, such as power distribution and transmission, alongside water and internet provision.
“Ghana and Africa must industrialise,” he told OBG. “To do that we need to have an enabling environment. We need to make sure we have in place all the infrastructure that will be needed.”
Aduhene was upbeat about the prospects for increased intra-regional trade through the African Continental Free Trade Area (AfCFTA), which he said held the key to boosting Africa’s competitiveness over time.
“We need to integrate to make use of various raw materials so we can be competitive,” he said “The African Continental Free Trade Area is excellent because it forces countries to take decisions. I am excited about it, especially for a company that wants to be active Africa-wide in five or 10 years’ time.”
The importance of making environmental, social and governance (ESG) goals a priority in areas such as power generation and the transport was another focal point.
“If we don’t look at ESG goals now, we will pay a price in the future,” he said.
“If it is done to scale, renewable energy can be cheaper than our current sources. For regional integration, transport is crucial. I think we should develop other forms of transport that are more environmentally friendly and cheaper, like rail, like waterway transport.”
Aduhene also highlighted the need to ensure urban migration is planned properly, with affordable housing in rapidly expanding centres a must.
“One way of doing so is to develop smart cities where we can use technology to make living easier, to make the provision of leisure, travelling to work and all of that much simpler,” he told OBG.
Marc-André de Blois, OBG’s Director of PR and Video Content, said the interview with Aduhene provided a fascinating snapshot of both the opportunities and challenges that Africa presents as it enters a historic phase in its socio-economic development.
“Africa stands on the brink of an exciting new chapter in its growth story, with the implementation of the AfCFTA translating into myriad openings for investors as the continent moves to lay the groundwork for much-needed industrialisation and cross-border trade facilitation,” he said.
“I’m delighted that we’ve been able to offer valuable insight into the plans taking shape across the continent, which will undoubtedly require significant input from the private sector.”
Click here to subscribe to Oxford Business Group’s latest content.
- Uneasy calm at WondaWorld Estates as wildlife officers move in to remove tigers
- Renowned American producer Timbaland reacts to Black Sherif’s Kwaku The Traveller
- Video of trainer playing with Cheddar’s tigers pops up
- Who is Kelvin Taylor? – Yvonne Nelson quizzes
- 2 Nigerians arrested for attempting to kidnap a 5-year-old child
- ‘My 2 tigers are to help boost tourism’ – Freedom Jacob Caesar
- Cheddar’s Tigers are well secured – Forestry Commission
- I took tramadol for confidence to approach my crush; I nearly died – 24-year-old man
- Ghana records $4.5bn remittances in 2021, places 2nd in Sub-Saharan Africa – World Bank
- What the law says about keeping wild animals like tigers as pets in Ghana
Ghana’s public debt hits ¢391bn as of quarter 1, 2022
Mariupol: Russia declares complete victory at Azovstal plant
Monkeypox: 80 cases confirmed in 11 countries, says WHO
Kwesi Arthur – the Akan rapper inspired by dreams
Nigeria’s facial scars: The last generation
‘Put our taxes to good use’ – Agbogbloshie traders urge AMA to desilt clogged drains
Deliver textbooks for basic schools before end of second semester – GNAT President tells goverment
Ministry of Education signs contract with Publishers Association to print textbooks for basic schools
Philip Kyeremanteng: Why Achimota Forest must be reserved
I went through proper procedures to acquire my tigers – Freedom Jacob Caesar
Tension simmers at UEW as Governing Council Chairman directs Registrar to proceed on leave
Nana Kojo Quaidoo: NPP internal elections – Akoto factor still gathering momentum in Upper East Region
U-17 WWCQ: Ghana beats Morocco 2-0 to claim first leg advantage
New Music: Kuami Eugene, Wendy Shay release new singles, Lojay features Chris Brown
Work to commence on Tumu-Han-Lawra Highway in June – UWR Minister