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What can we expect from the WEF Africa Forum in Cape Town?

02 June 2015 Paul Clark, Ashburton Investments

We read a lot about the shortage of power that is constraining economies from Nigeria to South Africa and from Zambia to Egypt. Less than 13% of Africa’s trade is with other countries on the continent, constrained by road and rail infrastructure and border crossing issues. There are concerns about insurgencies across North Africa to West Africa and in East Africa. These three examples show that despite the forecasts for strong growth of over 5.5% for Africa ex SA over the next 5 years (by the IMF amongst others) the continent could be growing significantly faster if some of these constraints were removed. Of course key to the continent’s future is to ensure that this growth is both inclusive and sustainable.

The WEF Africa Forum will bring African leaders from governments, businesses and interest groups together to debate broad ranging issue and opportunities on the continent. Developing nations, especially ones changing as quickly and significantly as we see in Africa, need to address imbalances that occur during these changes. Sharing of ideas and solutions in a forum where the normal adversities of negotiation between business and government are put aside helps shape future solutions and policies – even though we don’t expect an instant result when everyone goes home.

So who can we expect to see at the WEF Africa Forum?

Presidents and former Presidents from African nations, Ministers of Finance from Africa and the world, other government Ministers and Central Bank Governors are just a few of the senior government representatives that will be present. Cabinet ministers from Cape Verde, Canada, Côte d'Ivoire, Ghana, Guinea, Malawi, Mauritius, Mali, Namibia, Nigeria, Pakistan, Rwanda, Sierra Leone, Somalia, Somaliland, Sweden, Tanzania, Togo, Zimbabwe and of course South Africa are expected.

Business sectors represented are too many to mention, but key areas of Agriculture, Energy and Oil, Financial Services, Health, Information Technology, Infrastructure, Mining, Retail and Telecommunications are all well represented by senior business leaders.

So what will people be talking about?

The agenda is extremely varied but follow this year’s theme “Then and Now: Reimagining Africa’s Future”. Along with sessions on infrastructure, human development and resource management, many sessions cover ways that technology can be used to deliver objectives in new ways and thus overcome existing constraints.

But most of all, people will be talking to each other both within and outside the formal sessions. Talking together is the key objective to open up opportunities and manage the challenges on the continent.

 

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