Corruption stunts investments in Africa

If African business wants to take advantage of African opportunities, more pressure must be put on governments to take a business-friendly approach when drafting or revising policy, according to Janine Myburgh, president of the Cape Chamber of Commerce and Industry. “If there is one great big obstacle standing squarely in the way of investment into Africa, it’s the unenviable reputation for our tolerance of corruption – at both a public and a private level. This requires business to take a strong line,” she said. “It also makes the case for a strong business voice led by the Chamber movement even more compelling. The Cape Chamber has never been more vocal in our advocacy role as we now are. “It is clear there are opportunities,” she said. “But we have to create environments across Africa that encourage business.” She said the Cape Chamber was designing an extended exporting programme. “This will investigate trade opportunities as well as ways to mitigate risks for companies looking to, or already exporting. Not only will this give companies access to information about the countries into which they plan to expand but will also ensure that they can tap into networks that will give them on-the-ground experiential information on investment destinations they are investigating."