Africa's Private Sector can partner on development

Abstract

The Executive Secretary of the Economic Commission for Africa, Mr. Carlos Lopes called on the private sector to adopt corporate social responsibility and advance the continent’s development. Speaking to private sector representatives at the 9-13 June UN global compact forum in Addis Ababa. The private sector is yet to do its fair share for the continent’s development due to two fundamental mistakes: They see development as being the business mainly of governments and they believe that development activities are not profitable. Addressing the need to tackle challenges that impede on the continent’s advancement, that trade miss-pricing is practiced widely across Africa by both Multinational Corporations (MNCs) and home-grown African companies.