The Chairman of the United Bank for Africa (UBA), Tony Elumelu, has said that African leaders “know what should be done but fail to do what is right”.

He has, therefore, charged leaders to commit to appropriate actions in terms of policies and other interventions.

Mr Elumelu, who was speaking at the World Economic Forum (WEF) in South Africa on Wednesday, 3 May, challenged leaders to provide long-term solutions to develop the continent.

“Some leaders are short-term in orientation and do not think about how they will be remembered beyond today. If leaders think in the long-term, they will start to fix Africa,” he said.

He charged African leaders to create an enabling environment for businesses to thrive because that is the way economies can be developed.

“The people who grow economies are SMEs, entrepreneurs. What entrepreneurs need to succeed is that the business environment is right. The environment is stifling – they have to provide their own water, their own transport, their own electricity. How are they going to succeed?” he questioned.