| The Commonwealth Business
Council (CBC) today announced the commencement of
the "Cutting Red Tape for Business in Africa"
initiative to encourage African governments to make
smart regulation an integral part of their economic
growth and poverty reduction strategies. The priority
programme is in response to the growing calls from
the CBC's influential private sector membership
on the need for regulatory environments that are
conducive to business operation and growth. Overly-complex
and burdensome regulation is too often acting as
an obstacle to the private sector's ability to drive
economic and social growth. "Cutting Red Tape
for Business in Africa," in partnership with
the SBP (Small Business Project), intends to take
the powerful case for smart regulatory reform and
planning directly to government decision-makers
through the voice of local and foreign business.
The initiative is founded on the basis that increased
awareness and strong advocacy can go a long way
in accelerating action within Africa.
Dr. Mohan Kaul, CEO of the CBC, launched the
campaign at the Commonwealth Business Forum saying,
"Business is telling us there are few issues
as important to growth for Africa than getting
regulation efficient and enforceable. Poor and
heavy regulatory environments are preventing indigenous
African businesses from growing and are sending
a 'do not enter' sign to foreign investors. The
CBC is committed to putting the full weight of
its resources and relationships behind raising
the importance of smart regulation for African
leaders and for supporting their efforts to make
regulatory best practice a core component of their
economic growth and poverty reduction strategies.
Business will respond significantly and quickly
with the jobs, growth and tax revenues that Africa
so desperately needs."
The role of the private sector in Africa's development
has never been more important as evidenced by
the 1,000 business and government delegates attending
the Commonwealth Business Forum on Sustainable
Development. The private sector contribution to
job creation, growth, and opportunities for the
poor is increasingly seen as a critical component
for sustainable development. While Africa's progress
is growing, and its future opportunities are vast,
the continent repeatedly ranks at the bottom of
the chart when it comes to burdensome environments
to do business in.
"If we are to achieve seven percent growth
needed to halve poverty by 2015, we need to give
business the supportive environment it needs to
do its job - producing growth, employment, and
much needed revenue for African governments. Reducing
red tape and making good regulation part of poverty
reduction strategies can provide tangible and
concrete results, and can do it fast. Africa can
and must become a better place to do business,"
said Alhaji Bamanga Tukur, Chairman of the NEPAD
Business Group.
South Africa-based SBP, an independent specialist
support and research organization, is partnering
with CBC on this important initiative, providing
key research and capacity building. SBP's recent
report, Gaining Momentum, examines the extent
to which regulatory best practice is on the agenda
of African governments and to what extent action
is following. SBP Executive Director, Chris Darroll,
states, "This report paints a mixed picture.
The good news is that African governments taking
the tough steps to put good regulatory reform
and planning on the agenda are seeing significant
results. The bad news is that too few are doing
it. Governments need to know that prioritizing
regulatory best practice can be the single most
important factor in their economic growth strategy.
The initiative is designed to create the support
and case for that to happen."
The "Cutting Red Tape for Business in Africa"
initiative will not only raise awareness of the
importance of regulatory best practice, but will
work to encourage African governments to make
this issue central to their policy reform and
planning efforts, and then to act on it. The programme
will include: public-private dialogues on this
issue, the promotion of best practices and models,
work with multilateral organizations to embrace
smart regulation as part of poverty reduction,
tools and support for local private sector and
government advocates, and research and capacity
building efforts. The CBC will use the full breadth
of its government advisory services, investment
promotion conferences and events, private sector
membership and role within the NEPAD Business
Group to advance this campaign. SBP brings respected
research, advocacy and capacity building resources
from within Africa. The CBC is also expected to
forward the creation of essential and predictable
regulation as a formal recommendation to the Commonwealth
Heads of Government Meeting later this week.
The Commonwealth Business Council (CBC) was formed
in 1997 to promote trade and investment throughout
the Commonwealth. In keeping with its mandate
to improve trade and investment flows across the
Commonwealth, in the past three years alone, CBC
has convened investment conferences in seven African
countries and held two continental events with
NEPAD. www.cbcglobelink.org
SBP is an independent specialist support and
research organization. Working in partnership
with the private sector and government, its central
objective is to develop and empower profitable
small and medium enterprises (SMEs), and to promote
a policy environment that supports private sector
growth. Its programmes combine research, practice,
and advocacy. Established in South Africa in 1997,
SBP is currently expanding into a number of other
African countries. www.sbp.org.za
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For further information, please contact:
In Nigeria:
Marcus Courage
234 0803506 2403
+44 (0)7770 234 557
mcourage@africapractice.com
Internationally:
Robert Watkinson
+44 (0)20 7024 8271 direct
+44 (0)7984 433 486 mobile
rwatkinson@africapractice.com
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