Osinbajo, Mbeki, Dangote, Others Task African Entrepreneurs On Africa’s Prosperity

FUNSHO AROGUNDADE

Nigerian Vice President, Professor Yemi Osinbajo, Former President of Nigeria, Chief Olusegun Obasanjo, former President of South Africa, Thabo Mbeki, and president of the Dangote Group, Aliko Dangote, who are co-chair of the African Champions Club, have urged top entrepreneurs in the continent to focus on job creation for their teeming unemployed youths as a way to ensure economic prosperity and poverty reduction in the continent.

They all made this submission at the launch of Afro Champions Initiative over the weekend in Lagos.

Speaking at the launch, Vice President Osinbajo urged the private sector in the continent to take the lead in reshaping government policies and strategies in the continent.

“We think that it is the private sector that would do what is required to bring the urgency and the sense of mission to all the plans in the AU. We will like to see greater synergy and collaboration in the Africa champions while all the organs of the AU get involved in economic integration issues,” Osinbajo stated.

According to the Vice President, “the continent still have one of the lowest trade integration levels under 20 per cent while Asia is at 40 per cent and European integration is very much further ahead at about 60 per cent. The fact remains that other regions play as a bloc but Africa is still largely splintered into several economies and the ease of doing business across the region remains a significant challenge”.

He added that in the past few years it had become obvious to many African countries that both the momentum and common sense were in favour of the private sector leading the economies of the continent.

Osinbajo later congratulated the initiators of the Africa Champions initiative on their visionary action and pledged that the administration was behind them.

Former President Obasanjo, in his speech at the launch, expressed appreciation and commendation for the initiative.

He noted that while the initiative had put the private and public sectors together, it needed to integrate the financial institutions.

Obasanjo mentioned the Lagos Plan of Action, the Abuja Treaty, and NEPAD as initiatives which had not achieved their purposes before going under.

“We should not allow this one to slip; we should continue to fan the flame of Afrochampions initiative and may God help Africa,” the former President said.

Former South African leader, Mbeki emphasized greater integration of African economies for real development and agreed that for Africa to attain its desired goal in real growth and development, prominent African leaders and top entrepreneurs across the continent need to work effectively together towards integrating their economies to enable free trade among its members.

Dangote, on his part, said the AfroChampions initiative is for African businesses to cater to African needs to accelerate development in the continent and create more jobs to tackle unemployment of youths in the continent.

He acknowledged that it is the first time that leaders from Africa’s multinational companies will meet, not to discuss their sector and ad-hoc investment opportunities, but to exchange views on Africa’s transformation and on what contributions they may have.

The Africa’s richest man noted that Africa’s young population and a growing labour force are valuable assets in an aging world.

“Africa’s current population of 1.2 billion (16 percent of the world’s population) is expected to grow to 3.8 billion by 2100 – accounting for 49 percent of the world population. By 2034, the working-age population is expected to hit 1.1 billion, larger than that of either China or India. We as African business leaders can overcome our differences and speak with one voice, to foster reforms facilitating trade between our states with investments in strategic projects and synergies between our countries,” he said.

While promising to work with his colleagues to make the club a unique platform, Dangote added, “We do have to change the dynamics in a way that is more favourable to Africa and Africans because as Africa’s biggest multinationals, we owe a duty towards our communities, towards the next generation of young men and women who now want to become Pan-African entrepreneurs”.