MTN chief urges stable policies to boost Africa’s investment

MTN Group President and Chief Executive Officer Ralph Mupita has urged African governments to implement stable and predictable policy and regulatory frameworks to attract investment and unlock the continent's long-term economic potential. Speaking at the Kgalema Motlanthe Foundation Winter Seminar, Mupita emphasized that Africa's future prosperity depends on expanding economic opportunities, strengthening regional integration, and ensuring more people can participate meaningfully in the economy. He highlighted the importance of governments creating an enabling environment for investment, stating that businesses are more likely to commit capital where policies are clear and consistent. Mupita stressed that the future of Africa would be shaped not by the borders separating nations but by the economic opportunities that connect them. He called on governments to set predictable policies and regulations, asserting that businesses would follow suit and allocate resources accordingly. “Together, we can build a continent where opportunity is more evenly shared and prosperity is more widely created,” Mupita said during the seminar, which brought together leaders from government, business, the diplomatic corps, academia, and civil society to discuss the relationship between migration, development, and Africa's future. MTN sponsored this year's event, emphasizing the need for platforms that encourage dialogue among diverse stakeholders to find practical solutions to the continent's development challenges. During a panel discussion, Mupita addressed the topic of migration, arguing that it should be viewed as a consequence of uneven economic development rather than an isolated policy issue. He warned against focusing solely on the language of crisis surrounding migration, suggesting that such an approach would treat symptoms rather than address underlying challenges. Mupita explained that people migrate because opportunities are unevenly distributed, and the central question is whether Africa can build economies where mobility is matched by opportunity. He pointed out that the continent's growing population could become an economic advantage if countries invest in skills development, infrastructure, financial systems, markets, and strong institutions that allow people to contribute productively. Digital infrastructure, he noted, has emerged as a key driver of economic participation by connecting individuals to education, entrepreneurship, financial services, public services, and broader markets. Mupita reflected on MTN's journey, stating that the telecommunications group was born in South Africa and has grown alongside the continent. He emphasized that MTN's prosperity is inseparable from Africa's prosperity and expressed the company's commitment to supporting initiatives that promote evidence-based discussions on issues shaping Africa's future. He reiterated that Africa's strength lies in its connectivity, not just through networks but through people, ideas, and shared identity, and described the initiative as being about building bridges, not borders. As many African countries strive to attract greater domestic and foreign investment to accelerate economic growth, create jobs, and leverage digital technologies to enhance financial inclusion and regional trade, Mupita's call for stable policies aligns with these goals. His remarks come amid ongoing efforts to foster sustainable development across the continent, with a focus on creating environments conducive to both investment and innovation. In a related development, an Egyptian pharmaceutical firm, Utopia Pharmaceuticals, announced plans to establish a drug manufacturing plant in Abia State, Nigeria, to serve Nigeria and the West African market. The company's founder, Kamel Muhamed, revealed the plan during a meeting with Governor Alex Otti of Abia State. Muhamed stated that the firm seeks a partnership with the state government to establish the facility as part of its expansion strategy in Africa. The proposed plant aims to position Nigeria as a hub for advanced pharmaceutical technology, serving the broader West African region. According to Muhamed, Utopia already operates under an existing Memorandum of Understanding (MoU) between Egypt and the National Agency for Food and Drug Administration and Control (NAFDAC) on drug registration. The company has previously executed similar manufacturing projects in Tanzania and other African countries, indicating readiness to replicate the model in Abia. Governor Alex Otti welcomed the proposal, underscoring the significance of local manufacturing in advancing the state's industrialization agenda. He emphasized that his administration prioritizes investments that promote production over the distribution of finished products, highlighting the potential for job creation, stimulation of economic activity, reduction of poverty, and encouragement of technology transfer. Otti assured the investors of the state's support in establishing the plant and recommended considering the Ukwa axis as the preferred location due to its abundant natural gas reserves, reliable electricity supply from Geometric Power, and ample land available for industrial development. He instructed the Commissioner for Health, Enoch Uche, to collaborate with the investors to facilitate the project.