Source: Political infighting impeding Africa’s fortunes – DailyNews Live
BUSINESS WRITER 24 July 2017
HARARE – The current political infighting in South Africa (SA) – and other
countries such as Zimbabwe – is exacerbating Africa’s woes, and political
instability tag or perception, a leading continental lobby group has said.
This also comes as Ladislas Agbesi’s Pan African Business Forum (PABF) has
said Pretoria must recognise its role as a leading African economic player
and, therefore, its actions must be driven a body-politic which cherishes
“democratic principles and good governance that becomes the hallmark of…
Africa’s determination to advance its goals in good business practice as
well”.
“Since her (SA) independence, she has championed the cause of Africa’s
economic liberation as it has leveraged her economic prowess to ensure
that Africa’s voice is heard among the comity of nations. Unequivocally
speaking, she and Nigeria hold the key to ensuring that Africa’s economic
emancipation becomes a reality,” the pressure group said in a recent
letter to South African parliamentary speaker Baleka Mebete, adding
though, that Abuja remains plagued by socio-economic strife and religious
extremism as driven Boko Haram.
“…this unfortunate situation in the west African country leaves your
country as… the sole torchbearer to right Africa’s unfortunate
socio-economic situation. We are, however, worried about the incessant
bickering, which has plagued your country since the tenure of late…
Nelson Mandela ended peacefully,” Agbesi said in the hard-hitting
dispatch.
Citing the premature ejection of Thabo Mbeki in 2008 and incessant
attempts to remove incumbent president Jacob Zuma, the PABF said the ugly
fights playing out in SA’s parliament were not good for nation building
and the entire continent’s liberation struggle, as it created an
impression of endless volatility.
Crucially, these violent acts were negatively impacting on Africa, as
potential investors shied away and those already operating in the
continent resorted to capital flight, thus worsening its economic
fortunes.
“…the happenings in your country… are creating an impression that the
country is political unstable and ready to remove her leaders at the drop
of a hat. These we believe (are) giving a bad image to not only your
country, but Africa as a whole as the outside world equates these
parliamentary upheavals with the coups that once bedevilled west Africa,”
Agbesi said, adding dialogue was the only answer to the endless African
National Congress fights, which were hurting Pretoria’s democratic
credentials.
“An ability to do this will not only… bring peace and level headedness
to the parliament, but show… your country is maturing (and) while also
giving hope to other countries that issues can be resolved peacefully..,”
the PABF executive chairman said.
“…at this time of Africa’s fervour… (for) socio-economic
transformation and progress, what she needs is an economic powerhouse as
SA to be a trailblazer.”
Meanwhile, the African Medallion Group (AMG)’s special coins have morphed
into a cryptocurrency, which are also tradeable in Zimbabwe and six other
countries, including America and the United Kingdom.
This also comes as the Frank Buyanga-led initiative has been registered
with the London Metal Exchange and the value of its three batches of
tokens has skyrocketed to 2 000 percent-plus.
Apart from the two sets of $5 medallions, which were launched in early
April and another one in May, the South African-based AMG has launched $1
coins that were targeted for the local market.
The development also comes as Buyanga – a PABF executive director for
small enterprises – has inked a deal with Visa International to enable
foreigners to easily access the product and make their purchases. –
Business Writer/Wires
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