Capitalizing on Opportunity

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Friday 6 June

Focus on leadership and education for Africa's future
African countries should focus on raising the quality of leadership and education to capitalize fully on the growing opportunities available thanks to strong economic growth and the significant decrease in conflict in recent years, business and government leaders said at the closing session of the 18th World Economic Forum on Africa. “There is much better clarity in the political leadership on the continent about where we need to go,” Thabo Mbeki, the President of South Africa, observed. “There is greater clarity on how to respond to economic challenges. And there is an appreciation of the need to deal with conflict.”
Press release I Session Summary I Summit Outcomes I Photos

Powering Africa
The current power crisis in Africa is pushing the region to promote energy innovation and efficiency. Phirwa Jacob Maroga, Chief Executive of Eskom Holdings, South Africa, said that an energy strategy is needed that supports efficiency along with an execution plan and pricing mechanisms that obviate strategy mismatches.
Carlos Poñe, CEO of ABB, South Africa, said there were no constraints on power demand and that people will find the means to pay for power. But this needs to be set against supply constraints and the need for greater energy efficiency. The World Economic Forum's Energy Poverty Action group announced that it will establish a financing mechanism that specializes in the delivery of commercial energy to rural areas.
Session Summary I Photos I Energy Poverty Action Initiative I Webcasts

Thursday 5 June

African business ready to forge new kinds of global partnerships
The private sector is poised to play a growing role to help Africa become more competitive and forge international alliances that extend beyond the customary handouts that have long characterized the region’s relationship with rich countries. That conclusion emerged as one point of consensus among panellists in a session entitled "Taking Control of Global Partnerships" at the World Economic Forum on Africa in Cape Town.
"We have a unique combination of developed world business skills but we have learned how to do business in emerging markets," said Pat Davies, Chief Executive, Sasol, South Africa. "This needs to be emphasized more, and we can lead the way."
Press release I Session Summary I Photos

Going macro with micro
Microfinance in Africa is no longer a microbusiness. Session participants discussed issues facing the industry like whether microfinance institutions grow with customers or pass them on, the regulatory environment, and they agreed they do not pose a threat to traditional banks.
“Banks deal with enterprises, microfinance institutions deal with households, and the overlap is minimal,” said James Mwangi, CEO and Managing Director, Equity Bank of Kenya.
“Bank branches are very few in Africa and in most cases they are in cities where the money is,” said Jacobs Ajekigbe, CEO and Managing Director of First Bank of Nigeria. Stressing the importance of microfinance institutions, he continued: “Even where there are branches, there is often a minimum balance requirement to open an account.”
Photos I Session summary

Food insecurity: a perfect storm
“The issue of rising food prices is a time bomb,” said Jacob Zuma, President of South Africa’s ANC party at the World Economic Forum on Africa. He echoed South African Finance Minister Trevor Manuel in calling for rising fuel prices to be tackled as part of the problem through a global, multilateral approach. “Africa is the only continent that does not subsidize its farmers,” said Sheila Sisulu, Deputy Executive Director of the World Food Programme. She said farmers needed help to afford crops and fertilizers. “I know farmers in Kenya who have to plant a third less because they cannot afford seed and fertilizer. And so we exacerbate this problem.”
Press Release I Session Summary I Photos I  Watch the session

 
In the news
Journalists debated issues in the news with leaders in a session streamed live on blogtv. Bloggers also sent in their questions to the forum which touched on media coverage of Zimbabwe, the role of blogs and positive news from Africa.
www.blogtv.com/people/worldeconomicforum
Photos

Wednesday 4 June
Push for peace a priority in Africa
"One of the positives on the African continent is that there is progress to peace and stability,” said Thabo Mbeki, President of South Africa at the World Economic Forum on Africa being held in Cape Town. He named ongoing conflict in many parts of the region as “areas of concern.“ Prime Minister Odinga of Kenya said: “We must harness the resources and skilled manpower and involve our people more in development. That way we will be able to catch up with other parts of the world."
 Watch the session I Press release I Session summary I Photos


Africa Gender Parity Group launched at World Economic Forum on Africa
Forty top female and male leaders from across the continent have launched an Africa Gender Parity Group on the opening day of the World Economic Forum on Africa. The group of business, government, media, academic and civil society decision-makers are collaborating on ways for companies and countries to eradicate gender inequality and better engage women in the economy. "It's important to diagnose the legislative framework of countries that stand in the way of women so we can change it to provide an enabling environment for all to lead better lives," said Group member, Linah Mohohlo, Governor, Bank of Botswana.
Press release I Photos

Corporate Global Citizenship in Africa
Without sustainable communities, there are no sustainable companies, agreed panelists on a session devoted to the issue of corporate global citizenship. It is not just a duty but an "imperative" for business to be engaged with society, stressed Co-Chair Neville Isdell, who is Chairman and CEO of The Coca-Cola Company. "The world is in a state of flux, and Africa is not an exception," said Co-Chair Wendy Luhabe, Chairperson, Industrial Development Corporation, South Africa. "We are dealing with challenges that few of us are properly equipped to respond to and so we have to identify principles... which are responsibility, ethics, and leadership," she said.
Session summary I Photos


Leaders and the public vote on Africa’s drivers of change
The World Economic Forum on Africa opened with a highly interactive brainstorming session where 350 participants voted on the major drivers of change that Africa needs to be most prepared for in the next 12 months. The same question was addressed to the public through the Forum’s website and results were debated.
Education, food security, robust infrastructure, economic growth and investment, and visionary leadership were the top drivers of change voted by the leaders at the Forum on Africa. In contrast, empowerment of women and youth, mobile internet, peak water, entrepreneurship, and Zimbabwe’s future were identified as top priorities from the public’s point of view.

A blog is now open to discuss the links between these two sets of results. The public voting remains open for input as the debate continues.
Vote now and share your opinions with the World Economic Forum on Africa.

New toolkit boosts South African firms' response to TB threat
The Forum's Global Health Initiative (GHI) and the Lilly MDR-TB Partnership have launched a new toolkit that aims to boost the involvement of South African companies in tackling the TB crisis. The announcement comes as South Africa faces an emerging threat of TB/HIV co-infections and fatal drug-resistant strains of the disease.
GHI I Press Release I Toolkit Summary (PDF)


Africa@Risk 2008
Food security, geopolitical instability, economic shocks and climate change are among top risks facing Africa, according to a new report released at the World Economic Forum on Africa.
Interview I Press release I Report I Global Risk Network

Quotes

"In the globalized era of the 21st Century, government alone cannot do everything and how to bring other partners into the process of responsible decision making is a very big challenge, one which the World Economic Forum is helping to lead."
Sadako Ogata, President, Japan International Cooperation Agency; Co-Chair, World Economic Forum on Africa

"Progress will not happen by accident. There is much work to do and by collaborating we will have a greater impact."
Aliko Dangote, President and CEO, Dangote Group, Nigeria; Co-Chair, World Economic Forum



"This is the first Forum that is looking at how we can understand the role, relevance and quality of leadership in Africa and use it as a bridge to capitalize on the opportunities the continent offers." 
Wendy Luhabe, Chairperson, Industrial Development Corporation, South Africa; Co-Chair, World Economic Forum on Africa

“How does Africa convert the food crisis to an opportunity? Currently, yields in Africa are the lowest in the world. We need a long term approach.”
Obiageli Katryn Ezekwesili, Vice-President, Africa Region, World Bank

Co-Chairs
Aliko Dangote, President and Chief Executive Officer, Dangote Group, Nigeria
E. Neville Isdell, Chairman and Chief Executive Officer, The Coca-Cola Company, USA
Wendy Luhabe, Chairperson, Industrial Development Corporation, South Africa
Sadako Ogata, President, Japan International Cooperation Agency, Japan
Sultan Ahmed Bin Sulayem, Chairman, Dubai World, United Arab Emirates

Contact
For more information about the World Economic Forum on Africa, please contact:
Africa@weforum.org