A Business Vision for Africa

This report by the South African Institute of International Affairs outlines a business-centric vision for Africa's economic development, arguing that the continent must prioritize political stability, basic infrastructure maintenance, access to credit, and the rule of law over large-scale projects or long-term social goals to achieve immediate growth.

• Political stability and the cessation of conflict are identified as the absolute primary requirements for economic growth in Africa. Research indicates that participants across polled countries consistently rank peace as the top goal for the African Union.
• Africa's infrastructure suffers from a lack of basic maintenance rather than a lack of large-scale projects. While telecommunications and energy exploration have seen progress, transport infrastructure—including roads, ports, and railways—is in a state of neglect, leading to significantly higher international freight charges compared to other global regions.
• Electricity instability is a major operational hurdle for African businesses. Over half of the business organisations surveyed by eAfrica reported experiencing electricity failures at least once a week.
• A severe 'credit crunch' inhibits business growth, particularly for micro-businesses which make up 90% of the economy in some West African contexts. Banks are viewed as overly risk-averse, often demanding onerous collateral or audited accounts that small firms cannot provide.
• The absence of the rule of law and ineffective court systems create a cycle of economic stagnation. High costs and long delays in resolving payment disputes—taking over 500 days in eight of 31 evaluated African countries—discourage foreign investment and exacerbate credit shortages because debts cannot be legally collected efficiently.
• Corruption is viewed as a systemic threat that can destroy the economy. eAfrica found that 52% of business organisations believe paying bribes is necessary to open a business, and there is a documented correlation between the number of procedures required to register a business and the level of corruption.
• There is a significant funding gap for African growth targets; while the World Bank reports donors provide approximately $14 billion annually in aid, African leaders state that $64 billion in investments are required.

APA

South African Institute of International Affairs (2008). A Business Vision for Africa. https://saiia.org.za/research/a-business-vision-for-africa/

Chicago

South African Institute of International Affairs. A Business Vision for Africa. 2008. https://saiia.org.za/research/a-business-vision-for-africa/.

Wikipedia

{{cite report |author=South African Institute of International Affairs |title=A Business Vision for Africa |date=28 April 2008 |url=https://saiia.org.za/research/a-business-vision-for-africa/ |access-date=17 August 2026 |via=Climate Insights Directory}}

BibTeX

@techreport{southafricaninstituteofinternationalaffairs2008business, author = {{South African Institute of International Affairs}}, title = {{A Business Vision for Africa}}, institution = {South African Institute of International Affairs}, year = {2008}, month = apr, url = {https://saiia.org.za/research/a-business-vision-for-africa/}, urldate = {2026-08-17}, note = {Indexed by Climate Insights Directory} }