(DURBAN) Businesses across Africa have come out in strong support of the objectives of the New Partnership for Africa's Development (Nepad), Eskom chairman Reuel Khoza told the World Economic Forum (WEF)'s Africa Summit yesterday.
Endorsements for Nepad had been received from the continent's business community during the summit, he said. As many as 67 companies and 120 individuals had so far signed a special declaration, which pledges their commitment to Nepad and the actions necessary to ensure that it succeeds.
Among the signatories are international and local firms such as Anglo American, Barclays Bank and Microsoft, as well as BHP Billiton, and Absa.
According to Khoza, the declaration states that its signatories will commit to implementing best-practice standards of corporate governance, sound accounting practices, and eliminating corrupt practices.
Other pledges include the continued transfer of skills and technology to build human capital, assisting governments in capacity building across many areas, developing effective publicprivate partnerships and exploring the creation of a private, nonprofit body to raise and promote finance to fund the attainment of Nepad's goals.
Committed business could enhance Nepad's case for the Group of Eight (G-8) industrialised nations as well, by demonstrating the strength of support for the plan across the continent, Khoza added.
Representing the private sector's point of view, Leon Vermaak, head of financial services group Sanlam, told the forum that business people present at the WEF meetings during the past two days had "come out in very strong support" of Nepad and its goals.
"Business sees opportunities in Nepad since it builds a sound platform for long-term economic growth. Our most important contribution lies in the way we run our businesses to adhere to and promote sound principles of corporate governance, create jobs, develop human capital, and identify business opportunities."
He added that business leaders believed new structures for working with governments had to be created and existing ones strengthened, with a strong coalition of business people supporting Nepad, as shown by the support for the declaration.
Frederic Sicre, managing director of the WEF, said the proposal was a way of business backing African leaders who would be attending the G-8 summit in Canada at which a plan of action for the continent is due to be launched.
Sicre said that organised business in Africa should also think about setting up national bodies to ensure a greater involvement in the implementation of Nepad.
Yesterday's declaration does not explain how members of the body will be selected or and how it might be funded. This could leave open the possibility that existing business associations could play a role in any new body.
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