The World Economic Forum on Africa Buoyed by booming commodity prices, improved governance and strong growth, governments and businesses in Africa and beyond are sharpening their strategic focus towards the continent.
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Thursday 14 June
Trade between China and Africa has trebled in the past five years and more than 800 Chinese companies have set up on the continent, Li said. China continues to help African countries improve the living standards of African people and is working jointly with the continent to create a climate of greater peace and prosperity.
Wednesday 13 June
“It is a key milestone for the World Economic Forum to have DBSA as a partner to the Alliance. This provides a good platform to link international business capability with local community needs, to develop a brand for electrification projects, and help develop financing mechanisms,” said Christoph Frei, Director of Energy at the World Economic Forum.
Speaking at the World Economic Forum on Africa in Cape Town, South Africa, Baroness Amos said, “Business development is essential in the fight against poverty. The Africa Enterprise Challenge Fund will help to deliver this. It encourages innovation in trade and commerce to help those who are most excluded enter the world of business. The Fund will become operational in 2008 and I hope that businesses will see its potential and use it to stimulate growth."
A major new report from the World Economic Forum, The Africa Competitiveness Report 2007, concludes that African businesses can become far more competitive, but African governments and their international partners will need to improve access to finance, rebuild infrastructure and strengthen institutions. The report also points to the growing number of success stories in the region that show the steps countries can take to improve business conditions.
Li Zhaoxing, Foreign Minister of the People's Republic of China
"It is important that the World Economic Forum is here. The world is either at war or in dialogue and this forum allows us to be in dialogue."
Cynthia Carroll, Chief Executive, Anglo American, United Kingdom
Co-Chairs
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Mbeki: Tell us your problems; World Economic Forum on Africa ends
South African President Thabo Mbeki called on investors to tell government leaders about specific problems they encounter in doing business in Africa. Speaking at the closing session of the World Economic Forum on Africa, Mbeki invited the business sector to engage governments in a frank discussion about the issues and challenges they face. “It is important to know what you as investors are concerned about,” the president said. “We may not know what the problems are.” At one point, after Meeting Co-Chair Malvinder M. Singh, Chief Executive Officer and Managing Director of Indian pharmaceutical firm Ranbaxy Laboratories, described the difficulties his company has had in dealing with the differing regulatory regimes across the continent, Mbeki responded: “Write a letter. It would help us. I am quite sure we can solve this problem and remove this particular obstacle.”
The World Economic Forum on Africa has run an 'open session' in which questions and solutions regarding Africa's development from members of the public were put to the leaders who have the power to implement change. These contributions were used to help design the session on the final day of the World Economic Forum on Africa and the answers given to the questions will be reposted back on the internet. The result is a conversation between participants, panellists and concerned global citizens.
Li Zhaoxing, who recently stepped down as Foreign Minister of the People’s Republic of China, today said the relationship with Africa remains a priority for China and he expressed hope that it would go from strength to strength. The close partnership between the regions would allow both to better address the challenges of globalization, he said.
Zanele Mbeki, the First Lady of South Africa and Board Member of the Schwab Foundation, recognised the achievements of four outstanding Social Entrepreneurs during the World Economic Forum on Africa. Philip Hourquebie, Chief Executive Officer of Ernst & Young, South Africa commented that social entrepreneurs are part of a movement which is seeing business control pass from the few to the many and where the social element is no longer a sideshow but the main focus. 
At the World Economic Forum on Africa, the Alliance for a Green Revolution in Africa today announced the appointment of former UN Secretary-General Kofi Annan as its first Chairman. “I am honoured today to take up this important post and join with my fellow Africans in a new effort to comprehensively tackle the challenges holding back hundreds of millions of small-scale farmers in Africa,” Annan said. “Africa is the only region where overall food security and livelihoods are deteriorating. We will reverse this trend by working to create an environmentally sustainable, uniquely African Green Revolution.”
African countries should focus on building the capacity necessary to help their economies sustain the strong growth many of them have achieved in recent years, two African leaders told participants at the opening session of the World Economic Forum on Africa. “Sustainable development requires human resources necessary to move a country forward,” said Abdoulaye Wade, President of Senegal, noting that his government has allocated 40% of its budget to education and launched numerous infrastructure projects. “All of what we do has to be linked to building the necessary capacity to take the continent away from poverty,” concluded Thabo Mbeki, President of South Africa.
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Today at the World Economic Forum on Africa, the Development Bank of Southern Africa (DBSA) agreed to join the World Economic Forum’s Energy Poverty Alliance as part of a drive to provide basic electricity to African citizens. Jay Naidoo, Chairman of the Board, and Paul Baloyi, Chief Executive Officer and Managing Director, Development Bank of Southern Africa, have committed to host the Energy Poverty Action Management Unit (EPAMU) at their offices in Midrand.
The UK today became one of the first donors to get behind a new fund which will support businesses to help people in Africa become economically active. Leader of the House of Lords, Baroness Amos, announced that the UK will provide $20 million over three years to the Africa Enterprise Challenge Fund (AECF). The AECF will provide match-funding for business innovations that improve the economic prospects of the most excluded in Africa, as employees, entrepreneurs or consumers.
"The nature of our growth must ensure that everyone in our society is a stakeholder. Even if we reach 10% growth, issues such as unemployment and home-ownership will still be paramount."
"The World Cup is here in South Africa to stay. Local companies have invested more than US$ 700 million. Surely these companies know what can be achieved."
"The market force is playing an essential role in creating partnerships between Africa and China."
"The international community must come and address investing in Zimbabwe in a real way. In business we still can't engage international partners. We are stalled".
"In the last 50 years governance in Africa has gone downhill and is in bad shape. The question we need to ask is, how do we get out of this situation."
"The world now needs Africa as much as Africa needs the world. This is a true partnership."
"In Africa there's been tremendous movement towards democracy and that's attracting foreign direct investment and providing for further growth."
