“There are many ways in which business can, must and should help,” said Co-Chair, Niall FitzGerald, Chairman, Reuters, United Kingdom, and Member of the Foundation Board of the World Economic Forum. “I hope that by the end of Friday we will have a strong endorsement of business people who live and work in Africa and who are interested in Africa to get behind, in the most practical possible way, the recommendations of the Commission for Africa” which highlight the role business must play as a driver of Africa’s regeneration.
The Co-Chairs Niall FitzGerald, Chairman, Reuters; Graham Mackay, Chief Executive, SABMiller; and Lazarus Zim, Chief Executive, Anglo American Corporation of South Africa, noted that the Commission for Africa’s Report makes clear the importance of economic growth as the means to drive poverty reduction.
“Where we are today is completely unprecedented. We have never had this type of global attention on Africa in such a structured way and this is why this Summit is so important for us African business people and governments to say we have a ringing endorsement of this Report… that it’s something that is practical and can be implemented. And we also say that we are prepared and willing to do our part in that implementation process,” said Zim.
Governance is critical for setting the right climate, said Mackay. “The most important thing that business needs in order to make a positive contribution is improved governance. What it looks at most is if there is a safe, secure climate for investment, and that depends largely on the government. And so the response of business to the Commission’s Report centred on that, that governance is a key lynchpin of everything else that happens,” Mackay added.
The Co-Chairs agreed that 2005 is the “Year of Africa” with pledges of support and plans for action from many G-8 heads, accompanied by strong buy-in from African leaders such as Thabo Mbeki, President of South Africa, Olusegun Obasanjo, President of Nigeria, and Benjamin William Mkapa, President of Tanzania.
“This is the 15th annual Africa Economic Summit, which this year comes at a critical time as the Commission for Africa and next month’s G-8 Summit in Gleneagles have shone the spotlight on mobilizing the necessary partnerships and resources for Africa,” said Haiko Alfeld, Director for Africa at the World Economic Forum.
The Commission for Africa Report provides the basis of discussions at the Africa Economic Summit because it suggests, for the first time, a way of executing change. “It is the only plan that can provide the framework to improve Africa’s investment climate, address capacity constraints, mobilize financing for critical infrastructure development, boost healthcare systems, and discuss the legislative environment that will help business flourish,” said Alfeld.
Over the course of the three-day meeting, more than 700 leaders, among them 500 from business – overwhelmingly from Africa – will have the first opportunity to respond to the Commission’s Report. They will hold informal dialogue and form partnerships to address the major development challenges facing Africa.
