APPEALS for greater private sector investment in Africa’s natural resources and tourism sectors are highly welcome as such involvement helps break down traditional agro-sector systems and advance sustainable development across the continent.

A high-profile forest conservator is among these voices, having made pleaded as much at international panel discussions on investment in Africa at an event in the Japanese city of Yokohama.

It was part of auxiliary events at the conclusion of an international conference for African development, reflecting the fact that for years now the major issues on Africa’s development are being tailored to relate to action to transform agriculture.

There is evidently need to accelerate private-sector engagement, and some experts including the forest expert believe that the matter is critical at the moment. In this connection, they cite the need for inclusive and sustainable economic growth in Africa.

In the particular expert’s assessment, there was both a keen reliance on private sector participation as more essential than earlier thought, while admitting that plenty of work has been done by public sector lending so far.

But he was not very clear if leading public sector lending instrument can be boosted to assist small agro-sector units and industries or if real private sector investments like commercial banks are also required.

His own outlook was of a public sector practitioner in like manner as his actual functions, having pointed out that Africa currently faces a financial gap of over US$200 billion annually in its investment needs.

The difficulty with this affirmation is that the whole issue of meeting the 17 global sustainable development goals (SDGs) or the African Union’s Agenda 2063 global climate change risk mitigation requirements is a series of budgetary financing issues unrelated to investments as such.

The policy adviser was more at home with pointing out some notable successes in renewable energy and blended-finance initiatives in the likes of Tanzania, while expressing worry that many global investors still perceive Africa as a high-risk destination.

Instead of rooting for policy initiatives that rectify this image, he preferred to discount the narrative by collectively challenging it.

That view may sound convincing for public sector executives, while in so doing they may unwittingly reinforce the same impression in that inability to notice problems implies being part of the same.

There was a timely observation, all right, that the strengthening of domestic capital markets will reduce dependency on foreign currency financing with its volatility risks.

Yet, as he mentioned in preliminary remarks, there is need for a good picture in overall policy outlook as the global financial market can’t be sceptical about a country and then the particular country earns the confidence of local investors.

Money will flow out to safe havens when a country lacks stability and the rule of law, or business is under heavy strictures that disrupt confidentiality and strategic planning.

There was a time in North Africa when the state would have two board members in every large firm –and it is easy to see challenges there relating to reinvestment chances or attracting international investors.