Terkper calls for enhanced political systems to push Africa’s growth

Mr Seth Terpker - Finance Minister
Mr Seth Terpker – Finance Minister

The African Capacity Building Foundation (ACBF) on Friday launched the Africa Capacity Indicators 2013 Report in Ghana.

It was based on Capacity Development for Natural Resources Management in Africa.

The report which would be an excellent reference for policy makers and corporate and civil society organisations in Africa focused on the need to develop strategies of enhancing human resource capacity for the management of the natural resources of the continent

It indicated that the massive discoveries of natural resources in Africa have generated critical concerns about the quality of human resources capabilities to manage them to the benefit of the people.

Mr Seth Terkper, Minister of Finance commended the ACBF for its commitment towards ensuring development of the continent, explaining that Africa’s challenges had been enormous and these involves human and institutional capacity challenges, weak governance systems and absence of peer review among countries.

He emphasised the need for civil society to constructively collaborate to monitor the governance of natural resource and in the development of human resource to develop the continent.

Mr Terkper called for enhanced political systems that are sensitive and responsive to growth of Africa.

The challenges associated with massive exploitation of the continent’s natural resources by multinational companies and misuse, need to be urgently addressed, he said.

Such issues could be addressed through collective efforts of academia through research, inter country collaboration and partnerships.

The Finance Minister expressed the hope that the recommendations of the report would suggest critical solutions to the challenges of the continent to bring about crosscut ting development.

In most cases these discoveries have generated both internal and external conflicts as well as serious environmental challenges.

Dr Frannie Lautier, Executive Secretary, ACBF, who gave the overview of the report, said Africa currently lacked the human capacity to manage natural resources.

She said multinational companies destroy the environment, take over lands and render local communities impoverished due to lack of supervision of government, absence of strategic plan or effective policies to hold them to their terms of contract, corruption and lack of constant monitoring of their activities.

Naa Professor John S. Nabila, President, National House of Chiefs and Member of Council of State, expressed happiness that the report undertakes an assessment of dynamics in the natural resources sector to indentify some of the capacity issues necessary for good governance and effective management in Africa.

He said Africa undoubtedly, needs to seriously seek ways to address its emerging challenges.

The continent required demonstrating its democratic credentials, embracing transformative leaders and privileging good governance as core values.

Prof Nabila said for Africa to be more than just a commodity producer and recipient of finalised goods, capacity needed to be enhanced, knowledge assets harnessed and shared more strategically and more creative solutions encouraged.

Source: GNA

Leave A Reply

Your email address will not be published.