Monday, March 24, 2008

Africa wants India to take shareholder interest in Africa’s development

by Jo Black

India should be a shareholder and not just a stakeholder in Africa s developmental process, and be willing to share the risks, was the leading message that came through the Dialouge of Ministers held at the 4th CII-Exim Bank Conclave on India Africa Project Partnership 2008 in New Delhi.

Highlighting this aspect of India-Africa engagements, Mr Tadesse Haile, Minister of State for Trade and Industry, Ethiopia, said that India should seek to play a larger role in Africa s capacity building initiatives. He added that though Indian consultants are already operating in Africa, many of them are linked to deals rather than any long-term engagements that could have translated into sharing of knowledge and skills.

Similarly, Mr Simon Mboso Kiamputu, Minister of Industry, D R Congo, said the lines of credit (LOCs) extended by India should go beyond facilitating the supply of Indian equipment to Africa and encourage Indian industry to approach Africa in the true spirit of enterprise marked by long-term vision and risk-bearing outlook. We would like to see a long-term partnership between Africa and India leading to effective transfer of technologies and skills, local capacity building initiatives and utilisation of local resources for local development, he said.

Mr Ivohasina Razafimahefa, Minister of Economy, Commerce & Industry, Madagascar, said a stakeholder approach by India will contribute to Africa s quest for long-lasting peace and prosperity. He expressed hoped for a more balanced terms of trade between the two regions and said the partnership should look to scale up the engagements so that all partners can partake a larger share of the benefits of growth.

Dr Zweli Mkhize, Minister of Finance and Economic Development, KwaZulu-Natal Province, South Africa, commended CII s efforts to organise the ongoing Conclave which has resulted in real deals being structured . He observed that the cross-border engagements should lead to a higher level of capacity building programmes in Africa. He also said that India has a key role in converting the local raw materials in Africa into productive assets. At the same time, there should be some level of regional coordination in Africa to leverage the benefits of partnerships with India for a larger number of countries in the region, he said.

Mr Felix Mutati, Minister of Trade and Industry, Zambia, said both India and Africa share common challenges but the depth of challenges vary widely between the two regions. For a long-term partnership, both regions need to make a right assessment of these challenges, and importantly, India should look to pace up its cooperation endeavours to meet Africa s urgent needs, he said. We are asking you if you can act faster, he said.

He urged Indian industry to create industries in Africa. Creation leads to happiness which will sustain democracy in Africa, he said.

Mr C C Mushohwe, Minister of Transport and Communications, Zimbabwe, said his country has adopted a Look East Policy leading to stronger ties with countries like India. He identified sectors like infrastructure, rail rehabilitation, human resources development, and mining where India could assist Zimbabwe in terms of technology and skills.

Stating that no country grows without partners , Mr Agyemang Manu, Deputy Minister of Trade and Industry, Ghana, said that Africa is ready to receive Indian FDI in a variety of sectors. He added that Indian expertise is needed to add value to products manufactured in Africa which can then fetch higher values in the global markets.

Mr Mutati also said that Indian expertise will be greatly needed in the small and medium industrial sectors in Africa.

Mr Tarun Das, Chief Mentor, Confederation of Indian Industry (CII) said that in view of the growing India-Africa relations, CII is planning to open four new offices in different regions of Africa.

 

 

 

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