On BAP, NJ addresses lack of an adequate policy frameworks for Africa. He further argues that a more decentralized policy will enable local communities to work effectively, employing local expertise whenever possible. Page 21.
- Synergies between oil and gas players and African policymakers will be fundamental in optimizing the continent’s energy transition into low-carbon economies while ensuring financial sustainability.
- Transparency, stability, and good governance in particular are of great importance to foreign investors
- Government stability plays a huge role in determining whether a country is likely to honor contracts if and when new leaders take power
- Africa needs to improve its regulatory policies to create effective and noncomplex master plans that will let the private sector work.
- Africa needs policies that will encourage investment, create jobs, and bring prosperity to Africa’s countries and its people.
- Africa needs policies that promote intra-Africa trading.
Continental media focus/messaging
- US, Europe audience: Good governance, transparency and stability in African governments is most important to American companies looking to do business on the African continent
- Africa audience: messaging to focus: Africa needs improved policies that will encourage and create an enabling environment to empower local communities
Quotes – To be created by Media Guru.
“Countries with better policy frameworks exhibit higher efficiency of investment,” World Bank. Extracted from World Bank, Understanding the Africa Country Policy and Institutional Assessment (CPIA) Report for 2017.
“When OPEC allies with African producers, it’s like they’re taking out a market share insurance policy, with even small producers adding incrementally to OPEC’s dominance.” – NJ Ayuk.
“There’s more to local content policy than the drafting of it. Local governments must share in the vision and have practical mechanisms for ensuring compliance. Without oversight, local content regulations can be easily “forgotten.” NJ Ayuk.
“No local content policies can be effective without the establishment of a fully empowered government regulatory agency to lead public enlightenment, communication, and education—and to take firm actions against defaulters.” NJ Ayuk.
“… We need to create policy and regulate consistently in a modern… There also needs to be a focus on building and strengthening institutions, eliminating corruption, and becoming a more transparent and educated nation.” - Andrew Skipper, Head of Hogan Lovells’ African practice.
“A sound fiscal policy helps form the backbone of a solid economic management strategy that will promote growth and prosperity for all. Of course, a country can’t decide which natural resources will be discovered within its borders—but the lawmakers of that country do decide which policies to adopt regarding those resources. And their decisions impact their economy.” NJ Ayuk.
“I’m happy to say that good policies are coming, and some heavy-handed regulations are being rolled back. That will help Africa better control her own future.” NJ Ayuk.
“We need to improve our regulatory policies to create effective and noncomplex master plans. At the same time, let the private sector work” NJ Ayuk.