Final session panellists upbeat about Africa
THE final panel discussion at WEF Africa fittingly shared a title with this year’s theme: “Achieving Inclusive Growth”.
Moderated by Bronwyn Nielsen, the editor-in-chief and executive director of CNBC Africa, the 30-minute panel was a robust session, during which delegates were first asked to imagine themselves as the president of Africa.
They had to explain what steps they would take to achieve inclusive growth and how they would prioritise those steps.
Inclusive growth is a concept that advances equitable opportunities through economic growth, with every section of society reaping the benefits.
Siyabonga Gama, the group chief executive of Transnet, said: “I think the key issues lie not with strategic planning, but rather action. It requires a sense of urgency. The implementation of bold decision-making, keeping in mind that over-regulation slows down progress.”
Winnie Byanyima, the executive director of Oxfam International, who was praised by Nielsen for her tenacity when challenging leaders on social and economic issues, said: “I have a right to fight because it’s my continent. In a tribute to Ahmed Kathrada at WEF by Pravin Gordhan, I was reminded of a quote by Uncle Kathy: ‘Freedom is not a gift, you have to fight for it’. It is our ubuntu.”
Ulrich Spiesshofer, the chief executive of ABB Ltd, agreed: “We need to move from ‘I’ and ‘me’ to a joint effort and a common vision. We need to look to Singapore as an example of that togetherness and then operationalise (it). We need a free movement alliance so that money and people can move more freely. We need to create jobs and get people moving.”
Frédéric Lemoine, Wendel’s chairperson of the executive board, said: “In spite of the progress Africa has made, there is a lack of quick action. There is a lack of predictability for the rest of the world. If I were president, I would be an ambassador and try to attract the kind of global companies needed to invest and grow our opportunities.”
Rich Lesser, the global chief executive and president of the Boston Consulting Group, said: “Firstly, only an African should be the president of Africa, but I think the agenda should be around AEIOU: agriculture, education, infrastructure, opportunity and understanding.
“We have an opportunity crisis. There are only 3 million formal new jobs created in Africa annually, but we have 12-15 million young people entering the market. We need to focus on making investing easier, we need skills development and personal commitment.”
Where could Africa be in 10 years if we get it right?
All the panellists said they were optimistic about Africa’s prospects and emphasised that the role of the youth would be crucial.
Byanyima said Africa was in a better place now than it was 10 years go. “Our youth are already better educated and healthier. We need to reduce and manage the risks. Then we can have a powerful Africa. A brighter day.”