Build capacity for growth, say African leaders as World Economic Forum on Africa opens

Cape Town, South Africa, 13 June 2007 – 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. Both presidents argued that Africans must pursue their own agenda and solutions rather than those of outsiders who prefer to focus on problems such as corruption and disease. “There are some sick people in Africa but Africa is not sick,” Wade declared. “There are some corrupt people in Africa, but Africa is not corrupted.”

Some 800 participants from 42 countries are participating in the 17th annual World Economic Forum on Africa. Under the theme “Raising the Bar”, the three-day meeting will focus on how Africa can build the capacity the continent needs to succeed. The Co-Chairs of the meeting are: Cynthia Carroll, Chief Executive, Anglo American, United Kingdom; Li Ruogu, Chairman and President, Export-Import Bank of China, People’s Republic of China; Tokyo Sexwale, Executive Chairman, Mvelaphanda Holdings, South Africa; and Malvinder M. Singh, Chief Executive Officer and Managing Director, Ranbaxy Laboratories, India.

In opening remarks, Klaus Schwab, Founder and Executive Chairman of the World Economic Forum, said that African countries have an important role to play in the emerging multi-polar world, particularly now that the continent is more peaceful than at any time in the last 40 years and many countries have achieved unprecedented economic growth in recent years. “The world needs Africa as much as Africa needs the world,” Schwab said. He underscored the importance of partnerships to address global issues affecting the continent. “Business, government or civil society alone cannot meet the challenges that we have on our agenda,” he explained. Carroll agreed. “It’s all about partnerships and business partnering with the community, stakeholders and governments.”

The World Economic Forum on Africa is an opportunity for serious discussion about the state of Africa, said Sexwale. There is cause for optimism, he observed. “We want to talk about and celebrate our successes.” African economies that are neither oil producers nor rich in minerals are growing strongly, Obiageli Katryn Ezekwesili, Vice-President, Africa Region, World Bank, Washington DC, remarked. “The right policies are working,” she said. “But there are still huge areas that need reform. Let’s not be triumphant.”

The World Economic Forum is an independent international organization committed to improving the state of the world by engaging leaders in partnerships to shape global, regional and industry agendas. Incorporated as a foundation in 1971, and based in Geneva, Switzerland, the World Economic Forum is impartial and not-for-profit; it is tied to no political, partisan or national interests. (http://www.weforum.org)