The Chief Executive Officer of CLG Securities, Adeniran Aderogba, says funding is a central factor hindering the development of the maritime and shipping sector in Africa.
He enjoined governments in all African countries to provide policies and an enabling environment that would encourage private-sector investment.
Accoring to him, the development of modern seaports cannot be achieved through public budget.
Aderogba, in a statement, also said for the goals of the African Continental Free Trade Area to be achieved, appropriate policy and regulatory environment must be conscientiously provided.
the development of the maritime and shipping sector in Africa, as indeed, other critical transport and economic infrastructure.
“For the peculiar nature of the maritime and shipping sector, the funding must be appropriate and adequate to be effective and deliver the required outcome.
“The development of modern seaports in Africa cannot be achieved through the public budget. A strong and committed PPP funding mechanism is very key.
“Governments in African countries, especially the littoral states should as a matter of economic development priority, provide relevant and adequate policy and legal environments to stimulate private sector investment in the provision of shipping services, where most appropriate, public-private partnership could be considered in this regard.”
