2013 World Economic Forum on Africa closes with call for action
World Economic Forum (Geneva)
Cape Town, South Africa, 10 May 2013 — Calling for investment to consolidate and make more inclusive recent African growth, leaders from across the continent gathered to close the 2013 World Economic Forum on Africa.
“We’ve had a couple of days of very exciting conversations about what is happening on the continent,” said Eric Kacou, Co-Founder, Entrepreneurial Solutions Partners (ESPartners), USA, a Young Global Leader and Member of the Global Agenda Council on Fostering Entrepreneurship. “I think in Africa we are in the middle of a metamorphosis,” he said. “People are just starting to recognize there is potential.”
“I felt very encouraged, very energized” by the Young Global Shapers, said Ngozi Okonjo-Iweala, Coordinating Minister for the Economy and Minister of Finance of Nigeria. “They are the people who will ultimately take this continent forward.” Okonjo-Iweala announced that next year’s World Economic Forum on Africa will take place in Abuja, Nigeria. “I can assure you of an exciting Forum next year,” she said.
“The era of pessimism is over in Africa,” said Børge Brende, Managing Director and Member of the Managing Board, World Economic Forum. “The African lions are growing even faster than the Asian tigers,” he said.
“But if this growth is not invested in human capital and diversifying economies, we will lose out on the opportunity.” Brende concluded: “There is a lot of optimism, but also a lot of realism.”
Articulating that realism, Martyn Davies, Chief Executive Officer, Frontier Advisory, South Africa, a Young Global Leader and Member of the Global Agenda Council on China, laid out the challenges and opportunities ahead. “If we look back in 20 years, what will have become of this high growth we’re enjoying?” asked Davies. He said he worries that growth is not being re-invested in development, and that Africa needs to offer “better enabling environments” for industrialization to capitalize on opportunities, like the fact that China’s workforce will shed 85 million jobs in the near term. “Beyond the lip service, there needs to be a deeper realization,” argued Davies, “that our most valuable asset is not what’s under the ground, but it’s what is potentially in our people.”
“While there may not be an abundance of jobs, there is no shortage of work to be done,” argued Rapelang Rabana, Founder, ReKindle Learning, South Africa, who called on leaders to take advantage of the continent’s “youth bulge” by fostering educational systems that promote “job-ready” skills. Inclusion of women should also be a priority, added Anne Githuku-Shongwe, Founder and Chief Executive Officer, Afroes Transformational Games, South Africa, a Social Entrepreneur. “Women are the third emerging market,” said Githuku-Shongwe.
“We need to have inclusive and high-value growth,” argued Younes Slaoui, Consultant, Strategy and Development, Attijariwafa Bank, Morocco. “It’s not only about GDP. We need to have competitiveness.” Slaoui called for greater regional integration, as well as investments in social entrepreneurship and industry to promote inclusive growth and fight poverty. “Success is a journey,” concluded Elsie S. Kanza, Director, Head of Africa, World Economic Forum, a Young Global Leader, “not a destination.”
With the support of the Government of South Africa, the World Economic Forum on Africa was held in Cape Town, South Africa, from 8 to 10 May.
Over 1,000 participants from more than 80 countries took part. Under the theme Delivering on Africa’s Promise, the meeting’s agenda integrated three pillars: Accelerating Economic Diversification; Boosting Strategic Infrastructure; and Unlocking Africa’s Talent.
The Co-Chairs of the World Economic Forum on Africa were Frans van Houten, Chief Executive Officer and Chairman of the Board of Management and the Executive Committee, Royal Philips Electronics, Netherland; Mo Ibrahim, Chairman, Mo Ibrahim Foundation, United Kingdom; Mustafa Vehbi Koç, Chairman of the Board, Koç Holding, Turkey; Frannie Léautier, Executive Secretary, The African Capacity Building Foundation, Zimbabwe; and Arif M. Naqvi, Founder and Group Chief Executive, Abraaj Group, United Arab Emirates.
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Cape Town, South Africa May 8-10, 2013
World Economic Forum on Africa
Program
See link
World Economic Forum on Africa
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Friday, May 10, 2013
Video: Africa 2063: From Fragility to Stability
As African economies transform over the next 50 years, how will political and geopolitical tensions in the region be managed?
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The Richest People At The World Economic Forum On Africa
Mfonobong Nsehe, Contributor
Forbes
The World Economic Forum on Africa is currently taking place in Cape Town, South Africa. The program, which kicked off on Wednesday and ends Friday, is playing host to the crème of African society- presidents, prime ministers, diplomats, technocrats and business leaders.
This year’s meeting features an agenda built around three major pillars: accelerating economic diversification, boosting strategic infrastructure, and unlocking Africa’s talent.
Some of the richest people in Africa have made an appearance at the forum. Here’s who they are:
Aliko Dangote: The continent’s wealthiest man sits atop the Dangote Group, which owns cement production facilities across sub-Saharan Africa as well as flour-milling, salt and sugar production companies. Dangote has a net worth of $19.2 billion, based on May 8 stock prices, up from the $16.1 billion net worth FORBES calculated for the 2013 Billionaires list in March. He is from Nigeria.
Mo Ibrahim: The Sudanese-born billionaire founded Celtel, a mobile phone company that now serves 23 countries in Africa and the Middle East. He sold it in 2005 for $3.4 billion and pocketed an estimated $1.4 billion. FORBES estimated his net worth at $1.1 billion. Ibrahim is co-chair of the forum this year.
Jim Ovia: The Nigerian banker co-founded Zenith Bank in the early 90s. He is still the bank’s largest individual shareholder. His 9% stake in the bank is valued at roughly $370 million. He is also the founder and Executive chairman of Visafone, a Nigerian mobile phone services company and Quantum , a private equity firm. Forbes estimates his net worth at $800 million.
Folorunsho Alakija: The Nigerian oil businesswoman sits atop Famfa Oil, a Nigerian oil exploration company which owns a 40% stake in one of Nigeria’s most prolific oil blocks.
Strive Masiyiwa: Zimbabwe’s richest man is the founder and Executive Chairman of Econet Wireless, Zimbabwe’s largest mobile phone company. His stake in Econet is worth $525 million, based on the May 8 stock price.
President Uhuru Kenyatta: Kenya’s popular President is a heir to some of the largest land holdings in Kenya. He also owns stakes in Brookside Dairies, Kenya’s largest dairy company, Commercial Bank of Africa group and K24, a local TV station in Nairobi.
Chris Kirubi: The flamboyant Kenyan tycoon is the Chairman of International House Limited, a real estate company which owns the landmark International House in Nairobi’s Central Business District. He also owns a 49% stake in Tiger Haco Industries and a major stake in publicly-listed Kenyan investment company, Centum Investments.
James Mwangi: The Kenyan banker is currently the largest individual shareholder of Equity Bank, one of Kenya’s top 3 commercial banks. He also owns stakes in British American Investments, Kenya and a significant real estate portfolio in Kenya.
Wale Tinubu: The Nigerian oilman is CEO of Oando PLC, a $700 million (Market Cap) publicly-listed integrated energy services company in Nigeria. Through Tinubu’s privately-held investment holding company, Ocean and Oil Holdings, he owns a very significant stake in Oando.
Kola Karim: Karim is the founder and CEO of Shoreline Group, a Nigerian conglomerate with interests in oil & gas, construction, power, engineering and commodities trading. Last year, Shoreline Energy in collaboration with the United Kingdom’s Heritage Oil acquired a stake in an oilfield asset in Nigeria, OML 30 for $850 million. Karim, a polo buff is also a WEF Young Global Leader.
Ashish J. Thakkar: The maverick Ugandan tycoon is the CEO of Mara Group, a Pan-African conglomerate with interests in 16 countries in everything from hotels and tourism to financial services, information and communications technology, renewable energy and manufacturing.
Adrian Gore: Gore is the founder and largest individual shareholder of Discovery Health, South Africa’s largest medical insurer.
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Video: 2013 World Economic Forum Kicks Off In South Africa
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Video: World Economic Forum in Cape Town
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Video: World Economic Forum on Africa 2013
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Klaus Schwab
Founder and Executive Chairman, World Economic Forum
The World Economic Forum was first conceived in January 1971 when a group of European business leaders met under the partronage of the European Commission and European industrial associations. German-born Klaus Schwab, then Professor of Business Policy at the University of Geneva, chaired the gathering, which took place in Davos, Switzerland.
Members
Forum Members are companies that are driving the world economy forward. The typical Member company is a global enterprise with more than US$ 5 billion in turnover, although this varies by industry and region.
In addition, these enterprises rank among the top companies within their industry and/or country (generally based on turnover in US$ millions; for financial institutions the criteria is based on assets) and play a leading role in shaping the future of their industry and/or region.
The Forum’s 1,000 Member companies are at the heart of all our activities and their support is essential to helping us find truly sustainable solutions to improve the state of the world.
Source: The World Economic Forum
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Nigeria to Host 2014 World Economic Forum On Africa
Vanguard
Cape Town, South Africa — Nigeria is to host the 24th edition of the World Economic Forum (WEF) on Africa in Abuja next year.
The Coordinating Minister of the Economy and Minister of Finance, Dr Ngozi Okonjo-Iweala, made the announcement at the close of the 23rd edition of the WEF in Cape Town, South Africa on Friday.
Okonjo-Iweala thanked the WEF for choosing Nigeria as the next host, expressing the readiness of the country to make the next edition as exciting as possible.
She said that the choice of Nigeria was appropriate given its position and huge economic potential.
“I think we epitomize a lot of things about Africa. We have the excitement, the passion, the entrepreneurship, the private sector drive and the glow for the future.
“But we also epitomize all of the difficult challenges of the continent such as infrastructure deficit, governance issues, corruption and transparency,” she said.
According to her, a combination of these opportunities and challenges in one country makes Nigeria the most exciting place to be on the continent.
Okonjo-Iweala said that the future of Africa was bright, judging by the commitment and passion demonstrated by participants in the forum, especially the Young Global Leaders, who represented the youths of the continent.
The Director General, Nigeria Economic Summit Group, Mr Frank Nweke Jnr, said that Nigeria was excited to be the host of the next WCF.
He said that President Goodluck Jonathan had already mandated the team to organize a successful forum. (NAN)
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Video: Africa’s quest for sustained economic growth
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Dilemma X 
May 13, 2013 at 1:46 pm
Reblogged this on The ObamaCrat.Com™ and commented:
Thank you Dilemma X for this post. Nobody gives a shit about Mother Africa.