No slogans or platitudes at WEF
THE World Economic Forum’s recognition of the critical need for inclusive growth in Africa is to be applauded. It is the theme of this year’s global event, which starts in Durban today, and speaks directly to a major challenge confronting South Africa – and all on the continent.
So we welcome the 1 000 or so delegates attending the 27th WEF on Africa, their input on this pressing issue, their counsel and debate.
For the host country, it will be an opportunity to gather ideas, learn from the experience of others, and test its own thoughts. It also provides a platform to persuade influential visitors from 100 or more countries of South Africa’s sincerity in achieving the stability necessary for a thrusting economy.
Hence the presence of President Jacob Zuma, a host of cabinet colleagues and other public representatives who will seek to convince the forum that inclusivity, and sharing prosperity in South Africa, does not imply harming those who have it.
It will be their lot to convince delegates that radical economic transformation will be well managed, that they truly embrace the second part of the WEF theme this year, “Achieving Inclusive Growth through Responsive and Responsible Leadership”.
They will also have to address concerns of tempestuous politics – images of the insult to Zuma at a Workers’ Day rally on Sunday are still fresh. Then there was the recent cabinet shuffle, ratings downgrades, and talk of nationalisation remains incessant.
Delegates will not want slogans or platitudes, they will require details and concrete steps on how this inclusivity is to be won. This will be a questioning audience, and to this the government delegation must be equal.
And figures in the private sector, while free to express their reservations, must support them in arguing sound fiscal policy, a solid banking sector, and other positive features of the South African economy.
As usual the World Economic Forum will be as important for things announced and debates had on public platforms, as for interactions in many meetings out of gaze.
For South Africa, WEF on Africa 2017 must involve persuasion and absorption. As Khalid Abdulla, group chief executive of African Equity Empowerment Investment, said: “You can attend all the conferences in the world, but if you don’t apply and implement what you learn, it is just going to be another certificate on the wall.”