The NEPAD business group is another very important structure of NEPAD to promote investment in the continent and deal with the endless reliance on Aid. This group is usually referred to as the private sector arm of NEPAD and comprises of leading business organizations who have broad constituency-both in and outside Africa- and are committed to investing in the continent. The group acts as medium between NEPAD and private companies who supports its aims. They share information on trade and investment opportunities in Africa and encourage private sector led sustainable development projects. The group consists of twelve organizations who control businesses in and outside Africa including African Business Roundtable(ABRT) International Chamber of Commerce(ICC) Commonwealth Business Council Forum Francophone des Affaires, Business Humanitarian Forum,(BHF) Conseil Francais des Investisseur en Afrique, (CIAN),Corporate Council on Africa, British Africa Business Association (BABA),International, Business Leaders Forum,(IBLF), Business Council European Africa Mediterranean (BCEAM) Pan African Employers Confederation(PEC) Canadian Council on Africa.
However, NEPAD encouraged the establishment of this business group at the sub- regional level and that is where the Southern African region has made appreciable impact with it NEPAD business group known as NEPAD Business Foundation. This group has remained the most visible business group under NEPAD because of its achievements in promoting business, good corporate governance practices and regional integration in the Southern African region.
Criticisms of NEPAD
The New Partnership for Africa’s Development was faced with scratching criticism soon after its launch in Abuja Nigeria. These criti...
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...to will not come from Aid but from foreign direct investment all that is required from Africa is to create conducive business and economic policies that will make it an investor’s delight. This view is well captured by the NEPAD business foundation hence its activities has been largely based on promoting good economic and corporate governance practices across Southern Africa while it projects are funded from corporate loans sourced from the African development bank as well as capital investments from the companies operating under it. Therefore since multilateral aid agencies have not played significant role in its funding activities probably because they prefer to grant Aid to governments than private entrepreneurs one will not just roundly condemn everything about NEPAD just like Moyo (2009) and some of other scholars that have not taken a closer look at the plan.
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