African businesses 'require a focused strategy'

Businesses in Africa require clearer leadership strategies in order to ensure they can continue to attract the investment they require to succeed.

Industry experts speaking during the Vodafone African Business Leaders Forum earlier this month stated that changes to the way companies operate will be needed to ensure continued confidence in the region.

Alec Erwin, chief executive officer of UBU Investment Holdings in South Africa, said "clarity of purpose" is the key to success, with focused developmental strategies needed to help build infrastructure.

He suggested that this could be accomplished through a greater emphasis on public-private partnerships, which would serve to help stabilise the economy and markets.

"It can't be done by proceeding with 'business as usual'. It means changing the way we govern in Africa," he said.

The forum took place over three days earlier this month, addressing issues such as boardroom diversity, IT strategies and corporate governance among others.