{"id":70844,"date":"2019-12-10T04:31:24","date_gmt":"2019-12-10T03:31:24","guid":{"rendered":"http:\/\/pointblanknews.com\/pbn\/?p=70844"},"modified":"2019-12-10T04:31:24","modified_gmt":"2019-12-10T03:31:24","slug":"improve-the-business-environment-to-drive-industrialisation-wealth-creation-in-african-caribbean-and-pacific-countries-elumelu-tells-acp-presidents-in-kenya","status":"publish","type":"post","link":"https:\/\/pointblanknews.com\/pbn\/other-news\/improve-the-business-environment-to-drive-industrialisation-wealth-creation-in-african-caribbean-and-pacific-countries-elumelu-tells-acp-presidents-in-kenya\/","title":{"rendered":"Improve the Business Environment to Drive Industrialisation, Wealth Creation in African, Caribbean and Pacific Countries, Elumelu Tells ACP Presidents in Kenya"},"content":{"rendered":"
\n
\n
\nTony O. Elumelu, CON, Founder of the Tony Elumelu Foundation and
\nChairman, Heirs Holdings and United Bank for Africa Group, urged
\nAfrican, Caribbean and Pacific (ACP) Heads of State to improve the
\nbusiness environment in their countries to drive industrialisation and
\nwealth creation in ACP member states.<\/p>\n

He said this while presenting the keynote speech on the theme
\n\u201cIndustrialization and Private Sector Engagement for Economic
\nTransformation of ACP States\u201d at the Presidential Dialogue of the 9th
\nACP Business Summit in Nairobi, Kenya.<\/p>\n

Elumelu stated that industrialisation will not be achieved without
\nsupport for small and medium scale enterprises (SMEs) and improved
\naccess to electricity. \u201cWe cannot hope to industrialise if we do not fix
\nthe issue of power, if our entrepreneurs spend so much of their
\nresources to power their businesses, how then are they expected to make
\nthe investments necessary to upgrade and industrialise? If we do not
\ntackle these pertinent issues, we will be unable to achieve
\nindustrialisation, wealth creation and poverty reduction,\u201d he said.<\/p>\n

He highlighted infrastructure development as another critical area
\nneeded to achieve sustainable development, highlighting the key role the
\nUnited Bank for Africa Group plays in achieving this. \u201cUBA is a force
\nfor development in Africa through infrastructure investment and leading
\nthe way in cross border payments and services, with the objective of
\nencouraging trade across the continent,\u201d he said.<\/p>\n

While citing the impact of the flagship Entrepreneurship Programme of
\nthe Tony Elumelu Foundation, Elumelu highlighted the critical role
\npartnership between the private and public sectors, as well
\ndevelopmental organisations, play in achieving industrialisation. The
\nTony Elumelu Foundation, a private-sector-led philanthropy,\u00a0 is on a
\nmission to catalyse the economic transformation of the continent by
\nempowering young African entrepreneurs \u2013 over 7,500 beneficiaries across
\n54 African countries thus far \u2013 through its Entrepreneurship Programme.
\nElumelu shared stories of beneficiaries in Kenya including Dr. Peter
\nGichuhi Mwethera, who has developed a contraceptive gel, Uniprin, which
\naims to prevent HIV infection, and Maureen Amakabane whose company,
\n\u2018Usafi Sanitation\u2019, is bridging the sanitation gap in schools by
\nproviding waterless toilets.<\/p>\n

He said: “To date, we have 497 beneficiaries in Kenya, 596 in Uganda,
\n187 in Tanzania and 194 in Rwanda. This brings the total number of TEF
\nEntrepreneurs in East Africa so far to 1,474, so far. Organisations such
\nas the UNDP, African Development Bank, the ICRC, and GIZ have helped
\nincrease the number of young entrepreneurs we can support “.<\/p>\n

The President of Kenya, H.E. Uhuru Kenyatta shared the same approach to
\ndevelopment, while highlighting his country’s private-sector-focused
\nplan which has propelled the country’s ease of doing business rank from
\n129th position out of 190 economies in 2013 to the 56th position in
\n2019.<\/p>\n

President Kenyatta said: “Our young people are tech-savvy and indeed
\nwith a huge entrepreneurial spirit. They are ready to embrace the
\ndigital revolution. We are experiencing a flourishing digital innovation
\necosystem which can stimulate the rate of growth of ICT and technology
\ninnovations, and nurture vibrant tech startups and incubator hubs as
\nTony [Elumelu] has mentioned, of those young men and women he has
\nsupported through his family and Foundation”.<\/p>\n

In closing, Elumelu stressed the importance of including women in the
\ndevelopment agenda of the ACP region, commending the European Investment
\nBank (EIB), for its initiative \u201cShe Invest\u201d, which is focused on
\nmobilising 1 billion Euros for women across Africa. “We at the Tony
\nElumelu Foundation strive to reach the same goals of uplifting women out
\nof poverty and empowering them with knowledge and resources. This is an
\ninvitation to join forces as we have done with the UNDP to lift 100,000
\nyoung African boys and girls out of poverty, thereby stemming migration
\nchallenges,” he said.<\/p><\/div>\n<\/div>\n

<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"

Tony O. Elumelu, CON, Founder of the Tony Elumelu Foundation and Chairman, Heirs Holdings and United Bank for Africa Group, urged African, Caribbean and Pacific (ACP) Heads of State to…<\/p>\n","protected":false},"author":1,"featured_media":70845,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[4],"tags":[],"class_list":["post-70844","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-other-news"],"yoast_head":"\nImprove the Business Environment to Drive Industrialisation, Wealth Creation in African, Caribbean and Pacific Countries, Elumelu Tells ACP Presidents in Kenya - Pointblank News<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/pointblanknews.com\/pbn\/other-news\/improve-the-business-environment-to-drive-industrialisation-wealth-creation-in-african-caribbean-and-pacific-countries-elumelu-tells-acp-presidents-in-kenya\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Improve the Business Environment to Drive Industrialisation, Wealth Creation in African, Caribbean and Pacific Countries, Elumelu Tells ACP Presidents in Kenya - Pointblank News\" \/>\n<meta property=\"og:description\" content=\"Tony O. 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