WEF to bring 1 000 leaders together
AFRICA’S preparedness for the digital revolution, responsible leadership in the continent and inclusive economic growth are some of the key topics expected to come under the spotlight at the World Economic Forum (WEF) on Africa which kicks off tomorrow.
The three-day gathering at the Inkosi Albert Luthuli ICC in Durban will bring together more than 1 000 leaders from business, civil society and government from more than 100 countries.
Some of the key African leaders expected to attend include the president of Senegal Macky Sall, the prime minister of Namibia Saara Kuugongelwa, president of Uganda Yoweri Museveni, the king of Swaziland Mswati III, president of Mauritius Ameenah Gurib, vice-president of Ghana Mahamudu Bawumia, president of Zambia Edgar Lungu and president of Mozambique Filipe Nyusi.
Elsie Kanza the head of the Africa WEF said the Durban gathering would be a continuation of the conversations which took place at the Davos meeting in January.
She said the meeting would focus “very much on actual conversations with leaders who can do something about the current situation”.
One of the discussions will be the African paradox of the continent having so much land and mineral resources yet unable to feed itself, Kanza said.
“There is a concern that the pursuit of growth has not translated to the benefits that citizens are expecting. There is a lot of frustration with systems not working for the people. There are not enough jobs, there is a deterioration in living standards and pressure on leaders to become more responsive and responsible to their citizens and in Davos we interrogated what that means for the leaders,” she said
Regarding discussions on the fourth industrial revolution, Kanza said the major concern is that Africans shouldn’t be left out because of a lack of investment in things like connectivity.
Deputy Finance Minister Sfiso Buthelezi said the focus on inclusive growth resonated with the government’s stance to fast-track economic transformation by ensuring more people participate in the economy.
He said the government was looking forward to discussions on the issue. “It talks about ensuring that citizens of the country get involved in the economic activity. It talks to all the citizens of the country being part of the means of production… ”
Buthelezi said the Davos meeting reflected on the underlying need for the reform of global and national economies. “It is evident that globalisation and capitalism have to be better managed and harnessed to address the increasing discontent experienced by citizens not only in Africa but globally,” he said.
Buthelezi said the Durban meeting would be an opportunity for Africa to ensure that addressing inclusivity and inequality remained top of the global agenda and would also as an opportunity for Africa to set the narrative on this issue.
“As you know, we are the most unequal society in the world and it is an established economic theory that unequal societies are the most unstable societies. There is a correlation between instability and investment. It means that if you are unstable you cannot hope to get investment,” he said.
Asked whether the current developments in the country, including the recent cabinet changes, were likely to overshadow the meeting, Buthelezi said: “I hope not. I do not think it will because I think we are faced with very pressing issues to try and create an equal world,” he said.