LAGOS – The Chief Executive Officer (CEO) of MTN Nigeria Ltd, Mr Micheal Ikpoki, has identified infrastructure development as a critical factor for businesses sustainability in Africa.
Ikpoki made the assertion on Monday at the Africa Sustainable CEOs’ Business Roundtable Forum, jointly organised by the United Nation Global Compact, Nigeria Economy Summit Group (NESG) and Local Network Nigeria in Lagos.
Ikpoki, represented by the General Manager, Corporate Services, Ms Funmi Onajide, said the absence of infrastructure remained a major challenge for businesses in some African countries.[pro_ad_display_adzone id=”10″]
He urged African governments not to relent in their development of economic blueprints toward the inclusive growth and attraction of foreign partners.
Ikpoki said the saturation of the developed world had compelled African governments to redouble their efforts as the continent had become an investment destination.
The MTN COE also attributed the continent’s recorded success to the development of financial
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institutions, especially banking operations throughout the Africa.
He identified high cost of doing business in Africa as one of the critical gaps in the infrastructure financing and development.
On the MTN experience in Nigeria, Ikpoki said that it took the company 15 years to have base stations in many parts of the country.
He described as worrisome the high cost of diesel for operations and the establishment of base stations in various parts of the country.
Mr Ben Akabueze, the Commissioner for Economic and Budget Planning, Lagos State, said that corruption was another hindrance to business sustainability.
Akabueze said that repulsion of corruption was prevalent among public and private sector operators.
He said that while the public sector seemed to be “intolerant’’ of corruption, the private sector tended to be “protective’’ of it because most companies did not want to be stigmatised.
The commissioner said that a lot of the corruption perpetuated in public service was mainly caused by private sector contractors who come to public offices uninvited
Akabueze suggested that institutions should come up with awards for clean government and companies involved in best global practices. (NAN)
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