Africa is a continent so enriched and endowed with all kinds of natural resources.What we are wanting to see however,is the aggressive exploration and development of these natural endowments for the benefits of her people and the world at large.How can a continent sitting a top such a fabulous wealth,yet with nothing to show for it?We need to find answers to these questions and address same quick,else the toga of backbencher in the comity of nations would not be laid off from her,easily!
The situation is so urgent and had become an emergency case that the private sector,that is,individuals,companies,and other non- government organizations should play her role.A wholistic approach to business investment is best undertaken by the private sector.Even,where efforts had been made in the past,by governments,in these regards,the running of such projects had been epileptic and dysfunctional.What should the private sector then do now?
Firstly,rich individuals and private organizations should embark on talents hunting,invest in them,develop,and patent their products.There are many talented ones in our universities,polytechnics,colleges of education, and even curiously,in secondary and primary schools.In the long run,it will bring the required profits and dividends.When it comes to entrepreneurship,private sector is the better option!Governments should only be charged with the enabling and overarching regulations and controls.Governments has no business in running businesses! It is the exclusive preserve of the private sector.We have enough investible funds in private sector’s hands!But who will bell the cat?
Secondly,the place of research institutes cannot be overemphasized.So the private sector too should come in,in this area.The discoveries from these efforts are also marketable and can be patented to yield huge profits in the long run.
Daisi Israel Omofe is a trained accountant, also a features-writer.