Effective government to key to attracting FDI

Effective government remains the single biggest pre-requisite for African success if the continent does not want to miss any more opportunities. This is according to former UK Prime Minister Tony Blair who told delegates at the recent Investing in African Mining Indaba that improving the quality of governments across the continent was becoming increasingly important in light of the many opportunities that existed and the huge scale interest in the continent. “Efficient government is what differentiates between success and failure. Not only here but across the world,” he said. “Transparent governments that are effective are what inspires investors. Africa must work towards that goal.” He said governments that created environments where things got done were what it was ultimately about. “Effective governments ensure that the best policies are in place and that these are implemented to get results. This is a big challenge for Africa,” he said. He added the absence of corruption was another crucial ingredient for African countries wanting to transform and benefit. “It is impossible to access high level investment if there is any indication of corruption. Governments have to work harder to eliminate this from their countries and to ensure there are transparent systems in place. “ Blair said the more effective governments in Africa became the more investment they would attract. “Africa must take responsibility for Africa’s future,” he said. “That means we have to move away from a culture of dependency and aid to one of partnerships. Blair said Africa was in the advantageous position of being able to look at the rest of the world and see what had worked and leapfrog to ensure success. “The biggest challenge, however, lies in doing it. When we look around the world and inside Africa itself the examples of what works and what doesn’t are very clear, but doing it is what is tough. The legacy of poor systems, the inability to function, the lack of transparency – these are what African governments have to boot out.” INSERT & CAPTION We have to move away from a culture of dependency and aid to one of partnerships. – Tony Blair