Erratic Power Supply In Africa Identified As Major Hindrance To Effective Business

Investors on a panel discussion at the Africa Global Business Forum in Dubai, United Arab Emirates have identified the erratic power supply in Africa as a major hindrance to doing effective business on the continent.

Ghana's Roland Agambire, Chief Executive of the Agams Group of Companies was among the panelists who spoke on "making Africa an investment hub".

Mr Agambire also proposed a common currency for Africa to accelerate growth of Exports and Imports across countries.

The whole idea of the Africa Global Business Forum is to project the African market and whip up investor interest and confidence in exploring the continents potential.

The forum uses panel discussions featuring leading businessmen and African Heads to send the message across. 

Chief Executive of the Agams Group Roland Agambire said he is living the Dubai dream in Africa, particularly Ghana.

Dubai, an oil rich country draws its revenues from Tourism, Aviation, real estate and financial services.

As a businessman, Mr Agambire is embarking on an ambitious task of building a ten billion dollar Hope City project in Accra.

The project, an IT hub will have one of the Tallest tower in Africa, similar to the tallest building in the world in Dubai the "Burj Khalifa" which attracts huge tourist investments.

Mr Agambire told the forum that Dubai's approach to change should inspire decision making in Africa, particularly governments should pay special attention to making Public Private Partnerships the core of policy directions.

The panelists were also asked to share their views on what really will hinder an investor from penetrating the African market.

They raised various concerns including harmonising integration policy, doing away with artificial borders and erratic power supply which is detrimental to industry.

The second African Global Business Forum officially ends today.

GBC