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Business News of 2015-03-26
An international diplomacy expert, Mr Alexander Kwame Archine, has urged Ghana and other African countries to renegotiate unfavourable contracts that they have signed with foreign investors.
Delivering the maiden lecture of the Institute of Diplomatic Practice and Development (1-2DP) in Accra last Tuesday, Mr Archine said such contracts did not offer any significant benefits to the countries because those who signed them on behalf of their nations did not consider their respective national interests.
As a result, he said, the foreign investors took away Africa’s natural resources such as gold and other raw materials such as cocoa in huge quantities, while majority of Africans continued to wallow in poverty.
The about two-hour lecture on the theme: “Post 2015 Development Agenda and Missing Links in Africa’s Development Strategies”, traced the various development paradigms implemented in Africa in the last decades with their inherent difficulties.
Mr Archine, who succeeded in sustaining the interest of the audience from the start to the end by his expose’ on the missing links in Africa’s development, received a standing ovation from the audience, comprising retired and serving diplomats and academicians.
Established in 2011, 1-2DP is an applied policy research institute, as well as a growing centre for capacity development of African officials who represent their governments or organisations at multilateral meetings. It is also involved in international policy processes.
Poor negotiation
Mr Archine, who is Head of the Developmental Strategic Unit at the 1-2DP, said it was crucial for ministers of state and other diplomats who signed contracts of behalf of their nations to inform themselves well about the nuances in the deal before going for the negotiations.
“Do not get to the negotiation and get intimidated. Do not go to only dot the ‘i’ and cross the ‘t’,” he stressed.
Mr Archine said Africa had a lot of things that development partners or foreign investors needed, hence their decisions to come down to Africa to talk about contracts.
Therefore, Mr Archine said, Africans needed to negotiate from the position of strength, saying that “you have something that they are interested in”.
“We have to renegotiate contracts that are not favourable to us,” he said.
Mr Archine, who is also the Managing Director of the Oak Financial Services Limited, said Africa needed a united approach in negotiations with development partners.
He said Africa could use its population of about 1.2 billion as a bargaining chip by speaking with one voice in their engagements with the development partners.
“Your position will be fragmented when you come to the negotiating table, we need to unite and speak with one voice,” he said.
Mr Archine charged African countries to explore the potential of intra-African trade to boost trade among their peoples.
Mr Archine stressed the need for Africa to have control over their natural resources by trying to add value to their resources.
Ambassador Gbeho
The Chairman of the 1-2DP Governing Board, Ambassador James Victor Gbeho, said Africa had the capacity to develop, and indicated that all that Africa required was the required leadership.
Business News of 2015-03-26
An international diplomacy expert, Mr Alexander Kwame Archine, has urged Ghana and other African countries to renegotiate unfavourable contracts that they have signed with foreign investors.
Delivering the maiden lecture of the Institute of Diplomatic Practice and Development (1-2DP) in Accra last Tuesday, Mr Archine said such contracts did not offer any significant benefits to the countries because those who signed them on behalf of their nations did not consider their respective national interests.
As a result, he said, the foreign investors took away Africa’s natural resources such as gold and other raw materials such as cocoa in huge quantities, while majority of Africans continued to wallow in poverty.
The about two-hour lecture on the theme: “Post 2015 Development Agenda and Missing Links in Africa’s Development Strategies”, traced the various development paradigms implemented in Africa in the last decades with their inherent difficulties.
Mr Archine, who succeeded in sustaining the interest of the audience from the start to the end by his expose’ on the missing links in Africa’s development, received a standing ovation from the audience, comprising retired and serving diplomats and academicians.
Established in 2011, 1-2DP is an applied policy research institute, as well as a growing centre for capacity development of African officials who represent their governments or organisations at multilateral meetings. It is also involved in international policy processes.
Poor negotiation
Mr Archine, who is Head of the Developmental Strategic Unit at the 1-2DP, said it was crucial for ministers of state and other diplomats who signed contracts of behalf of their nations to inform themselves well about the nuances in the deal before going for the negotiations.
“Do not get to the negotiation and get intimidated. Do not go to only dot the ‘i’ and cross the ‘t’,” he stressed.
Mr Archine said Africa had a lot of things that development partners or foreign investors needed, hence their decisions to come down to Africa to talk about contracts.
Therefore, Mr Archine said, Africans needed to negotiate from the position of strength, saying that “you have something that they are interested in”.
“We have to renegotiate contracts that are not favourable to us,” he said.
Mr Archine, who is also the Managing Director of the Oak Financial Services Limited, said Africa needed a united approach in negotiations with development partners.
He said Africa could use its population of about 1.2 billion as a bargaining chip by speaking with one voice in their engagements with the development partners.
“Your position will be fragmented when you come to the negotiating table, we need to unite and speak with one voice,” he said.
Mr Archine charged African countries to explore the potential of intra-African trade to boost trade among their peoples.
Mr Archine stressed the need for Africa to have control over their natural resources by trying to add value to their resources.
Ambassador Gbeho
The Chairman of the 1-2DP Governing Board, Ambassador James Victor Gbeho, said Africa had the capacity to develop, and indicated that all that Africa required was the required leadership.
