7 QUOTES FROM 2015 WORLD ECONOMIC FORUM ON AFRICA
The
continent of Africa is a place of vast opportunities embedded in challenges and
poverty.
According to the World Bank, almost half of Africa’s countries have
attained middle-income status and even growing. However, the continent is being
threatened by fluctuating commodity prices, youth unemployment, competitiveness,
lack of infrastructure, underdevelopment and many more.
Below
are 7 quotes I feel you should know from some participants at the 2015
World Economic Forum on Africa. Digest and enjoy.
“Infrastructure
is a big issue... For example, to sell products in Nigeria, it is cheaper to
have them come in from Vietnam now days than to have them come in from Ghana
next door. So you have to make these markets function to be very efficient.”
– Paul
Polman
CEO
of Unilever
"When
you look at the challenges and opportunities that Africa faces, it is very
clear that these challenges cannot be addressed and resolved by any single
entity or by any single organization. What we have realized over the years is
that partnerships between government, civil society, and the private sector are
critical to addressing the many challenges that we face."
–
Nathan Kalumbu
President
for Eurasia and Africa group of Coca-Cola Company
“The
export of oil, the export of minerals, will for many decades continue to be a
critical part for the growth of African economies. The emphasis is on
diversification. We have for many years – not just in South Africa but in many
parts of the continent – spoken about beneficiation. And I think part of the
secret, in relation to beneficiation, is you have got to make it attractive,
profitable for the private sector – and it will take off. You may have to look
at mechanisms like tax concessions... You will not have to worry about
beneficiation if it makes commercial sense.”
– Patrice Motsepe
Founder
of African Rainbow Minerals
“I
think that a mistake that we make is to assume that informality means
illegitimate. These are legitimate activities that people are engaging in. What
we have tried to do is just formalise them.”
– Kwesi
Amissah-Arthur
Vice-president
of Ghana
"What
is concerning is that work in the informal sector is characterised by
vulnerability, low wages and no rights. So it is not the way that we lift people
out of poverty in Africa."
–
Winnie Byanyima
Executive
director of Oxfam International
“The continent
suffers from a severe deficit of infrastructure... It is also true that we have
amongst the lowest investment to GDP ratios amongst all the regions, at about
22%, which suggests that there are huge opportunities to execute projects and
investments that are developmental in nature, but give rise to returns that
adequately remunerate those that are willing to take risk on those projects.”
– Sim
Tshabalala
Joint
CEO of Standard Bank Group
"I
would say the biggest opportunity for Africa on the sustainable business front
is to leverage the digital revolution, and to align the digital revolution with
this concept of shared-value and better outcomes for consumers and citizens on
some of these challenging social governance and environmental issues. Because
we are seeing extraordinary disruption and opportunities to reinvent business
models, reinvent the way we deliver public services, reinvent so many
industries. The real opportunity is to harness that for both commercial gain,
but also the greater good."
– Peter
Lacy
Global
managing director of Accenture Strategy
Also read: Take Action and Practice, Use your mind, Never Give Up, Start Small,Overcome Setbacks and Business Drive
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