Stephen Blewett
MTN Ghana’s Chief Executive Officer, Stephen Blewett, has emphasized that while the continent often faces negative stereotypes related to war, disease, and famine, it also possesses significant strengths that can be leveraged for growth.
Speaking at the Africa Policy Dialogue (APD) conference, themed “Delivering the African Single Market Through Infrastructure: Invest, Connect, Integrate,” Mr. Blewett stressed the urgent need for African leaders to utilize the continent’s available resources for its development.
“Africa is a vibrant continent with a youthful population capable of driving productivity if equipped with the right skill sets. The continent’s vast natural resources must be effectively managed and governed to transform its economic prospects,” he stated.
Mr. Blewett underscored the exciting investment opportunities in Africa, citing MTN as a prime example of how such investments can benefit both the continent and the business landscape.
He reiterated MTN’s commitment to enhancing connectivity and integration across Africa, asserting that achieving a single market will rely on investments in digital access and literacy.
He highlighted the critical role of e-commerce and mobile banking in realizing this vision. “The APD is significant for us as it brings together leaders from various sectors to share insights and commit to building a resilient Africa. Our time is now. It’s a time for action,” he declared.
Mr. Blewett also emphasized the importance of collaboration among African nations through institutions like the African Continental Free Trade Area (AfCFTA), the African Development Bank (AfDB), and the African Union.
“Together, in the spirit of Pan-African cooperation, we can control and shape our narrative,” he affirmed, expressing confidence in Africa’s ability to seize opportunities for growth and prosperity.
Chief Financial Officer of MTN, Antoinette Kwofie, highlighted the complexities of accessing capital in Africa, noting a prevalent reliance on Western nations for investment.
She argued that if this trend continues, it is crucial to find ways to facilitate easier access to funding.
Madam Kwofie identified currency volatility in many African countries as a significant factor contributing to poor investor confidence, along with an inconsistent regulatory environment across the continent.
To build investor confidence, Antoinette Kwofie called for the establishment of robust legal and regulatory frameworks to ensure that funds are used for their intended purposes and not diverted elsewhere.
She emphasized that these considerations are vital for attracting external investment and urged collaborative efforts among African nations to address these challenges.
BY Prince Fiifi Yorke