Africa needs capital, technology and managerial skills to realise desired development and poverty reduction among its people, the Vice-President, Dr Ali Mohamed Shein, has said.

Opening the China-Africa Business forum here yesterday, Dr Shein said that Africa has attractive investment opportunities that could liberate people from abject poverty if well exploited.

He said business relationship between China and Africa should aim at achieving broad-based technology diffusion in Africa, including applied modern technology to traditional production approaches by embedding empowerment in investment initiatives.

He called upon the forum to creatively innovate for economic development in Africa by enhancing productivity among the majority of the people through a policy of empowerment for accelerated economic growth.

"The growing business between Africa and China should benefit the people of the two countries and this can be done in health business relationship," he said.

Dr Shein underscored competition as central to the operation of markets, saying it fosters innovation, productivity, and growth which eventually create wealth, while reducing poverty.

In Africa, said Dr Shein, technological change and market access should be part of the package for facilitating an increase in productive capacities for economic growth, development and poverty reduction.

"Africa can catch up with other continents under elaborate partnership and empowerment programmes for business development," he insisted.

He said production techniques and technologies that have already been invented and applied in China, should be emulated and adopted, rather than reinvented to circumstances of Africa.

Dr Shein urged over 200 delegates attending the meeting to consider Tanzania when it comes to investment, because the country offers a wealth of market opportunities for both local and foreign companies, insisting that investment support is available from the Tanzania Investment Centre (TIC).

He mentioned arable land, minerals, and natural tourist attractions as untapped natural resources which offer a wide range of investment prospects.