In recent years there has been a shift in the relationship between African economies and the outside world – from one of dependence to one of partnership. Former British Prime Minister, Tony Blair, during his speech at the Investing in African Mining Indaba held in Cape Town last week. This was highlighted by former British Prime Minister, Tony Blair, during his speech at the Investing in African Mining Indaba held in Cape Town last week.
“There is a move from what I would call mere ‘transactions’, to the idea of relationships,” he said. “Governments want something deeper and richer (as a relationship) with those coming to invest in their countries.”
He highlighted five principles which he argues govern mutually-beneficial, long-term relationships between African governments and foreign investors.
1. Infrastructure investment for mutual benefit
“The first principle of a new relationship, based on partnership, I think is cooperation between the investor and the country around the area of infrastructure for the greater benefit of the country as a whole.”
Blair highlighted the Simandou mining project in Guinea as an example, where a vast amount of capital is being invested in infrastructure – beyond just the mine – through collaboration between the government of […]