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29.03.2007 General News

Leadership is Africa’s greatest problem


The latest person to agree with the above assertion and conclude that the continent's seemingly daunting predicament is because of the kind of people that led and is leading it is the Managing Director of Cal Bank, Frank Adu Jnr.

For Africa to develop, says Frank Adu Jnr, our leaders need to be properly looked at, adding that the continent of Africa does not lack the resources needed for economic growth.

What the continent lacks, according to the Cal Bank Managing Director, is the special kind of leaders that will harness those resources present in the various countries.

“If we have leaders who dictate and mismanage our resources that will not happen” he said, noting further that our slow progress is due to the fact that we always take two steps forward and two steps backward.

Making a presentation on the 'Impact of globalization on the trade payment system' at a forum organized by the British West Africa (BWA) Forum, Mr. Adu Jnr said though Ghana has in the past years made some fair economic strides, “if we get our policies right with visionary leadership we should be able to become a developed country.”

He also noted that international globalization is a work in progress and that Trade Credits are needed to finance the imports of goods and services because the resources for payment are very limited.

Industrialist Ken Appiah-Menka who chaired the three-day forum also questioned the commitment of West-African heads of states to the promotion of the economic well being of the sub region and its people.

The British-West Africa Forum for Trade Business Partnership, a private sector initiative focuses on helping West African businesses to enter into the American and European markets and how they can partner each other for the development of Africa.