Private sector key to vibrant economy—ACP

African Caribbean and Pacific (ACP) secretariat assistant secretary general Henrique Banze has urged governments belonging to the group, including Malawi, to work closely with the private sector to improve their economies.

Speaking in Lilongwe on Tuesday on the sidelines of a workshop for senior officials from the National Authorising Office (NAO) and Regional Authorising Office from Southern Africa, Banze said in the absence of a vibrant private sector, economies cannot function properly.

The call comes at a time the local private sector is owed about K135 billion for goods and services supplied to government over the past few years.

Said Banze: “The private sector is the most important part of the economy. The sector has a key role to play to stimulate the economy.

“Governments must make sure that they provide an enabling environment for the private sector to function well. This can be done by working closely with the sector to establish goals and proper targets.”

He said the workshop came at the right time as countries in the ACP region can share ideas on how to use resources from the European Development Fund (EDF) to reduce poverty and stimulate growth of the economy.

Secretary to Treasury Ronald Mangani agreed with Banze that the meeting helped ACP member States share experiences, learn from each other and reflect on the role that the intra-ACP cooperation under the 11th EDF can play to reflect the regional and global priorities of financing for the agenda 2030 for sustainable development.

According to Mangani, under the 11th EDF, the European Union (EU), among

others, will support Malawi in three priority areas of sustainable agriculture, secondary education and vocational training as well as governance.

Further, the support will also go to the NAO support unit and the civil society.

“In terms of the Sadc [Southern Africa Development Community] region, the support will focus on peace and security and regional stability, regional economic integration, regional natural resources management and institutional capacity,” he said.

The Lilongwe meeting is one of the six taking place in all the six ACP regions.

During the meeting, delegates discussed and shared experiences on the implementation of the national and regional programmes of the 11th EDF and look at the intra-ACP strategy paper and indicative programme of the 11th EDF. n