Business News of Sunday, 12 March 2017
Vice president Dr. Mahamudu Bawumia believes Africa will earn more respect from the West if it stops begging for aid.
The economist wants the ‘dark continent’ to aim at “economic emancipation” through trade partnerships and cooperation instead of relying on aid to develop.
“Africans will only get the respect of the rest of the world if we emancipate ourselves economically. We don’t have to take begging bowls around the world. We should look for investment, cooperation and partnerships,” Dr Bawumia said at the Africa Leadership University in Mauritius on how to unlock the leadership potential of the continent.
He noted education plays a crucial role in development therefore the youth must take advantage of it to save the continent.
Later on Sunday, Dr. Bawumia was the Special Guest at a Breakfast Meeting to celebrate Mauritius’s 49th independence and 25th republic anniversaries. Both countries signed various agreements at the Government House in the capital Port Louis for a stronger partnership.
“Mauritius is a model for us and we want to emulate you… We believe that government should set the best environment for the private sector to invest and it is time now for action … Our economy is based on production and not on taxation. This is why we abolished various taxes,” he noted.
Meanwhile, the Government of Ghana has signed a Double Taxation Avoidance agreement (DTA) with the government of Mauritius.
The countries have also set up a Ghana-Mauritius Permanent Joint Commission on Bilateral Cooperation, as part of measures to facilitate trade between the two countries.
As well, Ghana and Mauritius have agreed to collaborate on an Investment promotion and protection agreement to better channel investment into each other’s country, possibly via Special Investment Zones.
Foreign Affairs and Regional Integration Minister, Shirley Ayorkor Botchwey, signed the agreement on behalf of Ghana, while Seetanah Lutchmeenaraidoo, Minister for Foreign Affairs, Regional Integration and International Trade signed on behalf of Mauritius.