Researchers and experts at a TRENDS symposium underlined the importance of strengthening environmental and business governance in Africa, describing it as the key to attracting the investments needed to build robust and sustainable infrastructure across the continent.
They also highlighted the significant role of think tanks and research institutions in providing a deeper understanding of challenges and how to address them.
In the symposium, organised by TRENDS Research and Advisory, as the Diamond Sponsor of the Brazil-Africa Forum 2024, in collaboration with Aletihad News Centre, the media partner, entitled ‘Sustainable Prosperity: A Governance Approach to Boosting Investment in African Infrastructure’, the speakers discussed various issues related to governance and infrastructure investment.
These issues included the importance of transparency and accountability, institutional capacity-building, legislation development, and enhancement of public-private partnerships. The speakers underscored the impor
tance of investing in renewable energy and digital infrastructure as drivers of economic growth in Africa.
The speakers – including Maisoon Al Dah, Chargé d’Affaires at the UAE Embassy in Brazil – commended the central role played by the country in supporting investment in African infrastructure. They pointed out that the UAE has presented a successful public-private partnership model and can contribute valuable expertise to help African countries’ efforts in this area.
In its recommendations, the symposium called for enhanced cooperation between African countries and international institutions to provide the necessary financial and technological support for implementing infrastructure projects.
It also emphasised the importance of sharing knowledge and experiences between African countries and learning from successful global models. Moreover, the symposium highlighted the need to strengthen public-private partnerships, create regulatory environments that minimise bureaucratic hurdles, promote transparency
and accountability, and combat corruption.
Speaking on the occasion, Dr. Mohammed Abdullah Al-Ali, CEO of TRENDS, explained that TRENDS’ current tour in Africa aims to explore prospects of research cooperation with think tanks and academic institutions in this vital region.
He added that investment in African infrastructure is one of the most pressing challenges facing Africa and developing countries.
In his keynote speech, Dr. Mohamed Hamad Al-Kuwaiti, Chairman of the UAE Cybersecurity Council, explained that the symposium theme highlights the urgent need to develop infrastructure based on a comprehensive and sustainable approach to addressing today’s needs and anticipates future challenges and opportunities. He said that, especially in the context of climate change, pandemics, the Fourth Industrial Revolution, cybersecurity challenges, and other emerging issues.
He emphasised the importance of developing sustainable infrastructure in Africa, focusing on digital infrastructure, a crucial driver of econom
ic growth and comprehensive development.
Dr. Hamad Al-Kaabi, CEO of Aletihad News Centre, said that ‘infrastructure investment in Africa is the key to achieving sustainable development and prosperity on the continent.’ Despite Africa’s enormous potential, he added that the infrastructure sector still faces a significant lack of funding due to political instability, lack of accurate data, and the risks associated with investing in emerging markets.”
Professor Otaviano Canuto, former Vice President and Executive Director at the World Bank Group, delivered a research paper on governance and enhancing economic resilience in African countries.
Prof. Canuto highlighted the importance of improving governance standards in African countries because governance is critical in determining whether the continent’s massive natural resources become a blessing or a curse. He explained that good governance is fundamental in attracting private investment to Africa’s infrastructure, which drives economic and social developmen
t.
The symposium concluded with a research paper, From Governance to Sustainability, presented by Paulo Gomes, Chairman of the Board of the Africa-Southeast Asia Chamber of Commerce. In this paper, he warned about the challenges facing achieving sustainable development goals in the region, such as climate change and water scarcity.
Source: Emirates News Agency