Weak policies, institutions Africa’s biggest hindrance — Senyo Hosi

The Chief Executive Officer (CEO) of the Ghana Chamber of Bulk Oil Distributors (CBOD), Mr Senyo Hosi, has stated that weak policies and institutions, superintended by poor leadership, is Africa’s biggest hindrance of crossing from a third world status to first.

That, he said, combined with a generally passive citizenry and middle-class inertia that believe politics and policy-making were the sole preserve of politicians, a posturing that had given rise to a slower reform efforts across the continent.

Delivering the keynote address at the United Kingdom (UK)–Africa Trade and Investment Forum in London last Sunday, Mr Hosi said, “Africa’s biggest hindrance to transcending its third world status to first world was the canker of weak policy making and institutions superintended by poor leadership.

“Every industry, including mine, has not been immune to the passiveness in seeking greater policy reforms that are credible and certain. Yet, in developed countries, industries lay the golden eggs that spur economic transformation,” Mr Hosi said.

He cautioned: “We cannot be like the proverbial stomach that houses anything the mouth throws in only to warehouse poison someday and die.”

Forum and awards

The forum and awards, organised by African Leadership LLC, and African Leadership (UK) Limited, was on the theme: “UK–Africa Relations Post Brexit: Building Trade and Investments Structures for Equitable Partnerships.”

It was aimed at bringing together UK–Africa business leaders, investment bankers, fund managers, senior government officials, key private sector players as well as diplomats to discuss trade and investment priorities for the relations between UK and Africa.

Mr Hosi was declared winner of the African CEO Impact Award (West Africa) for his role in the oil and gas sector of the country.

The award, according to the organisers, is in recognition of his “outstanding posturing as one of Africa’s most innovative and development thought leaders in the petroleum trading and distribution sector, having contributed to the economic growth of Ghana.”

“Through your unrivalled leadership ingenuity, you have laid the most impactful foundation for the future prosperity of the Ghana Chamber of Bulk Oil Distributors and a key factor in the development of the economies of Africa at large. This patriotism to the fatherland is commendable,” the organisers said in a citation accompanying the award.

The Minister of Trade and Industry of Botswana, Mr Vincent Seretse, presented a plaque to Mr Hosi at the event.

Lead policy making space

Mr Hosi urged the businesses to lead the policy making space by being very proactive and added that “we need to drive the quality of the process; we have to lead in the transformation of institutions into competent bodies independent and devoid of politicking. We must and can change the story of Africa.”

“We say Africa is the next economic frontier but I ask: the frontier for who? Until we begin to drive and lead policy from behind, Africa’s industry shall miss its own opportunity of becoming an economic frontier. We must change the way we think and the way we act,” Mr Hosi emphasised.

Ghana/UK Trade

Touching on trade between Ghana and the UK, Mr Hosi said Ghana’s trade with the UK had dipped by 30 per cent since 2012.

He said the reason for that was because the “UK trade in Ghana and most of Africa has been mainly extractive and primitive in the production chain.”

Mr Hosi stated that the use of aid to keep the influence on this level of the African economy in check would only be limited, especially when the UK had been out-competed by the likes of China and the European Union (EU).

Africa, he noted, needed real trade partners to invest in its secondary and tertiary production chain.

“It needs real trade, not aid. As Africa rises, those with the real partnerships will yield the most and influence the rise,” the CBOD CEO asserted.

Former award winners

Past outstanding recipients of the African Leadership Magazine Awards include a former President of Namibia, Hifikepunye Pohamba; a former President of Tanzania, Jakaya Kikwete; the President of Sierra

Leone, Dr. Ernest Bai Koroma; the President of the Republic of Liberia, President Ellen Johnson Sirleaf; a former President of Ghana, John Kufuor, as well as Dr Mo Ibrahim.

Writer’s email: mabel.baneseh@graphic.com.gh