Is Africa still poised to become the next investment frontier?
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Over the last decade, Africa had been hailed as the next business frontier, promising growth and offering opportunities for investment. Is that outlook changing with the gloomy global economy and falling commodity prices? Joining CNBC Africa's David Williams to discuss the investment environment on the continent are: Cheryl Buss, Head of Global Clients at Barclays Africa; Bryan Leith, Chief Operating Officer, KPMG Africa; Julie Tregurtha, Head of Database, Technology & Mobile Sales for Southern Africa at SAP; Wildu du Plessis, Partner and Head at Baker & McKenzie Banking & Finance Practice Group, and Nomzamo Xaba, Group Executive, Research and Advisory at Empowerdex.
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Shitty governance is the issue. Africa needs a total restructure piratically from the ground up. Executed well, it can do what China did in 20 years.
Fix the freaking infrastructure (roads, rail, motorways, broadband, energy) using PPPs with great tax incentives. Offer free education from age 5 to 17 using e-learning. Make it super easy to pay taxes, register a business, access government services via the internet. And finally create tax policies that tax imports HEAVILY for the next 10 years (and re-new as long as you need to). With that environment it would be super easy to attract direct foreign investments that would establish plants and factories in special economic zones with 10% tax. You'd also need to re-structure government from the ground up. Only people with a 4 year degree can become a politician, create a digital currency system that traces all transactions (get rid of paper money) and possibly only have elections for 1 position i.e the role of the president and then allow the president to hire who ever he sees fit - the way a business would. Can you imagine if a business had to get a vote from all of its employees every time it wanted to get a new CEO, COO, MD, CFO, CTO etc.
My point is, we do not have to do things the way everyone else is doing things, we can leap frog, put in place systems and create our own way instead of just copying what they do in the west or east.
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