General News of Friday, 26 October 2018
To achieve the desire industrialisation of Africa for sustainable development, the Chief Executive Officer of the Chamber of Bulk Oil Distributors (CBOD), Senyo Hosi has charged African leaders to strengthen public institutions devoid of politics.
Speaking at this year’s African Development & Investment Convention (ADIC) summit on the theme, “Africa Rising – Lacing Politics, Industry and True Partnership for Sustainable Development”, Mr. Hosi said industrial growth can only be achieved once African leaders depoliticise and detribalise state institutions.
According to him, the way forward will be to build these institutions on the principles of meritocracy and accountability as that will serve as the bedrock for policy credibility and effectiveness.
To achieve this, he said, there is the need for African countries to realign their politics as that would have a positive impact on Africa’s industry and entrepreneurship.
“At the heart of our problems are institutions, they are ineffective because they’re excessively politicised, tribalized and there’s a total absence of meritocracy, absence of accountability. We can’t ask anybody to come to our town if we don’t fix it and make it right for them to come into our town”, he bemoaned.
Senyo Hosi further indicated that investment flow to Africa has reduced due to the politicisation of state institutions causing most investors to think twice before they invest on the continent.
“The desired investment flow to Africa is hindered by the short-term view investors wealth for Africa because of the political risk they perceive on the politicisation of our institutions such as our central banks, our regulators, state-owned enterprises, etc”.
He, therefore, charged African leaders to make institutions work again by taking inspiration from Rwanda and Mauritius.
He added that “the institutions should be made to work and work professionally and objectively. These weaknesses translate to the inconsistent and arbitrariness of policies, infringement on the sanctity of contracts and the distortion of markets all superintending by a corruption leading bureaucracy”.
Mr. Hosi further said the ‘Big Man’ syndrome must change for Africa to rise with its people and the worship of politics must also change to the true call of service.