Dynamic Wealth Management Headlines: Opportunities for Africa from the global economic crisis
So in the hope that we can learn from the past… Firstly we need to guard more and more against an insidious line of thinking that has come out of the world economic crisis. There is no doubt that international trade and flows of real investment across borders are drivers of growth and in no way bear any responsibility for the recent crisis. Emerging markets need access to wealthy trading partners. And it is certainly no one way ticket as the developed world also needs the recourses of Africa. Both parties will benefit from openness and accessibility.
I know that calling for open access to the world at large also means that within Africa we need to play our part, as we are not blameless in this process. And for this we need leadership within the African continent from our politicians as they create the environment in which their private sectors can flourish. All too often as the commodity boom continues revenue flows have increased allowing fundamental flaws to be hidden. It would be very dangerous to assume the commodity boom will continue forever and so a proper, secure, foundation for the future is essential. Botswana is a remarkable example of how to invest a commodity windfall wisely.
It is also important for us in Africa that as we take heed of the lessons from the financial crisis and the reforms being proposed that we do nothing to hinder the emergence of effective fiscal institutions within Africa. Without reliable banks and an efficient credit markets Africa, like other developing regions, will remain poverty stricken and heavily dependent on unrefined commodity exports. If we succeed in building a fair banking sector private enterprise will be ready to invest and take business risks which are its task in life. However the private sector also has to look to its method of doing business. Good corporate governance and social investment need to be more than just a slogan. Business must act in synch with the world in which it lives, not in a bubble of careless ambition. Investments must be seen as generational and not driven by their impact on quarterly reports. Ethical capitalism is the right way forward and will allow the countries of Africa to grow and prosper.
The sound economic policies that many African countries have adopted need to be re-enforced and key health, education and infrastructure programmes and expenditures need to be maintained. Doing so will not only assist in creating the conditions for long term and positive economic growth but also allow the large, young unemployed populations of so many African countries to join the formal economy. We must not abandon any of the market related reforms which have acted as key drivers of growth for successful developing nations round the world. Good governance, open markets and strong institutions are vital for development. These factors need the support of domestic populations with Africa where once again the politicians have an important role to play. In other words there is a need to build a ‘Coalition for Growth’. In Africa we talk of how a pride of lions works to live and prosper, all working together for the common good. Quite a different picture from Asian tiger!
African competitiveness has received much too little attention – something my family, through the Brenthurst Foundation and its range of continental and international partners, has sought to address through the creation of the ‘Lake Kivu Consensus on Economic Competitiveness’. Africa needs to find the means within its own development and not be dependent on the vagaries of aid and donor sentiment. If Africa signs up for this growth and competitiveness philosophy then Africa’s lions will roar – and they will provide the interdependent network of jobs, security and free passage of trade, and economic growth which is vital for our future.
As the Spence Commission on Growth and Development points out in its report last lasted year – fast sustainable growth is not a miracle. Rather it is attainable for developing countries with the ‘right mix of ingredients’. The commission found that ‘countries need leaders who are committed to achieving growth and who can take advantage of opportunities from the global economy. They also need to know about the levels of incentives and public investments that are necessary for private investment to take off and ensure the long term diversification of the economy and its integration in the global economy’. Critically, therefore, the long term priorities of African leaders should not change despite the uncertain world in which we live. To the contrary, goals associated with the promotion of competitiveness must be accelerated. This competitiveness requires political and macro-economic stability, as well as social and environmental stability. Ever more important is what countries can do together, including improving trade logistics and deepening integration. With growth as a national and continental priority everything is possible.
At the Dynamic Wealth Management Zurich, Switzerland, we realize that no two clients are the same. Every client has different financial needs, goals, and
plans. For this reason, the DWM offers a wide array of investment options to suit every client. We tailor your investment strategy to be as individual as you are.
Dynamic Wealth Management
Dynamic Wealth Management Zurich
14 Wall Street
New York City, New York 10005
212 618 1700
This release was published on openPR.
Permanent link to this press release:
Please set a link in the press area of your homepage to this press release on openPR. openPR disclaims liability for any content contained in this release.
You can edit or delete your press release Dynamic Wealth Management Headlines: Opportunities for Africa from the global economic crisis here
News-ID: 205494 • Views: 1162
More Releases from Dynamic Wealth Management Zurich
Dynamic Wealth Management Headlines: Nigeria’s Economic growth and Statistics: …
Governor Sanusi Lamido Sanusi of the country’s apex Federal Reserve Institute, the Central Bank of Nigeria and its monetary policy committees retained the benchmark interest rate at 12 percent. The market did not anticipate any change of the monetary interest rate; therefore there was no negative or positive reaction to the outcome. Sanusi’s CBN cannot be accuse of not trying its best possible to utilize the tightening of the monetary
Dynamic Wealth Management Headlines: German Bunds Advance as French Borrowing Co …
German bonds rose as French borrowing costs climbed at an auction, stocks declined and European industrial orders increased less than analysts predicted, fueling concern the debt crisis is feeding an economic slump. Italian and Spanish bonds slid as Europe’s bailout fund sells notes at a yield spread almost seven times its first issue a year ago. Greek Prime Minister Lucas Papademos said his nation faces “the immediate risk” of a default
Dynamic Wealth Management Headlines: Europe,China Manufacturing Drops on Impact …
Dec. 1 (Bloomberg) — Manufacturing weakened from China to Europe last month as the euro region’s debt crisis darkened the outlook for the global economy. China’s manufacturing contracted in November for the first time since February 2009 as the property market cooled and Europe’s turmoil cut export demand. In Britain and the 17-nation euro area, manufacturing shrank at the fastest pace in about 2 1/2 years as the region edged toward
Dynamic Wealth Management Headlines: AIG Share Sale Raises $8.7 Billion
The U.S. Treasury Department and American International Group Inc. (AIG) raised $8.7 billion in a share offering, bringing the insurer a step closer to independence after its 2008 bailout. The Treasury sold 200 million shares yesterday at $29 each, compared with the closing price of $29.46 on the New York Stock Exchange. The government, which retains a majority stake, needs to sell shares at an average of about $28.73 to recover
More Releases for Africa
Frenchie Africa Introduction
Johannessburg, Gauteng, South Africa, 17 February 2021 – Frenchie Africa has announced the initiation of their website and Social Media channels to the public. Frenchie Africa will follow the journey of two French Bulldogs, Bakari and Jamani as they grow up in Africa. From their homebase, a small but cozy, custom-built log cabin in South Africa, Frenchie Africa will chronicle the lives of Bakari and Jamani and their owners Ross and
Baby Food in South Africa
Summary Although many consumers have been hard pressed over the last two years or so, as levels of consumer debt have mounted, the market for baby food has so far been fairly resilient, as purchases are predominantly still made by the upper income groups, who have suffered less than others from the difficult economic situation. Research published by Analytics Business Intelligence indicates that in 2011 some 41% of users of baby
14th Africa Independents Forum
The 14th Africa Independents Forum 2016, 25-26th May, gathers together leading independents and corporate players worldwide and from across Africa, both listed and unlisted, large and small, established and new entrants, and provides enhanced exposure to the wider Africa-wide upstream industry in oil, and gas, exploration and development, including issues in crude oil and financial markets, engaging equity financiers, banks, private equity and investors found on the AIM and LSE,
Vizocom Selects iSAT Africa as Its Africa C-band Partner
Vizocom, a leading global provider of satellite services, announced today that it has signed a partnership agreement with iSAT Africa to cooperate in providing satellite services and solutions. Sharjah, UAE, March 02, 2016 -- Vizocom, a leading global provider of satellite services, announced today that it has signed a partnership agreement with iSAT Africa to cooperate in providing satellite services and solutions such as data solutions including C-band VSAT services and
23rd Africa Oil Week
While the African Continent continues to attract a steady stream of oil and gas commitments in its fast-growing oil, gas-LNG and energy industry, our landmark Africa Oil Week 2016 event will again showcase Africa’s Governments, National Oil Companies, Licensing Agencies and corporate players shaping the continent’s future – in exploration and production/development, across new frontiers and established basins; onshore in the Rifts and offshore in the shelf and deep-water, providing
Vizocom Selects iSAT Africa as its Africa C-band Partner
Vizocom, a leading global provider of satellite services, announced today that it has signed a partnership agreement with iSAT Africa to cooperate in providing satellite services and solutions. Sharjah, UAE, February 29, 2016 -- Vizocom, a leading global provider of satellite services, announced today that it has signed a partnership agreement with iSAT Africa to cooperate in providing satellite services and solutions such as data solutions including C-band VSAT services and