"Business leaders have an important role to play in encouraging the bold political and economic reforms that are needed to allow the private sector to flourish, for the benefit of all," he said.

Leon, who is on a week-long working trip to Tanzania and Zanzibar, praised both the South African and Tanzanian governments for strengthening the "bonds of private enterprise" and not weakening them.

He said it was this private sector that was the best hope for Africa in achieving its economic goals along with the broader political and social objectives. Business on the continent could do more to pressure governments to go in the right direction rather than leaving this task to "the usual suspects" in the political opposition.

He said business leaders could be more forthright on major issues affecting Africa. "One such issue is Zimbabwe, where (President Robert) Mugabe’s policies have not only led to human rights abuses and entrenched tyranny and corruption, but also to hyperinflation, capital flight and economic catastrophe."

"Our whole region is suffering untold losses from the disappearance of one of its most important economic producers and trading partners."

"It would therefore be useful for business leaders to speak out in support of any new attempts by political leaders to bring about peaceful political change in Zimbabwe and to encourage any shift in the position of regional leaders," he said.

This translated into the private sector in Africa adopting a more articulate notion of corporate citizenship — "what it means to contribute to society beyond goods and services, taxes and wages."

Leon said South African investors and entrepreneurs were part and parcel of development in Tanzania and the rest of the continent. He said trade between the two countries had grown substantially in the past 11 years.

While trade reflected a balance in SA’s favour, he said SA accounted for more than a third of foreign direct investment (FDI) in Tanzania in the past decade, investing roughly R2,5bn.

"Today SA has overtaken the European Union as Tanzania’s largest foreign investor. In addition to providing much-needed consumer services, skills, infrastructure and tax revenue, South African investments in Tanzania have created thousands of jobs. And the best recipe for the future success of both nations’ economies is simply more of the same, with investment and trade driving growth and development," Leon said.

Source: Business Day