Cape Town, South Africa, 4-6 May 2011
From Vision to Action, Africa’s Next Chapter
Africa has demonstrated greater than expected resilience through the global economic crisis and has become one of the fastest-growing regions in the world. Improved political and macroeconomic stability, strengthened political commitment to private sector investment and better access to basic education and social services are drivers behind this trend.
However, the translation of growth into inclusive and sustained development is complex.
It will depend on the leadership capacity and political will of its governing institutions to direct taxes, profits and donor funds to much-needed infrastructure investment, better urban design and critical health, and education services.
It will also depend on the ability to craft innovative partnerships between business and civil society, as well as the empowerment of small and medium enterprises that continue to be the main providers of income across the continent.
Another major challenge will be Africa’s increasing exposure to global risks such as prolonged global financial market instability, commodity price volatility and climate change.
- How can Africa take on a leadership role and guard against newly emerging global and regional risks?
- How can it further attract global and regional investment, and sustain its growth path through greater industrial diversification and innovation?
- How can inclusive growth be fostered through partnerships and the promotion of Africa’s small and medium enterprises?