Courage & joint venture to sustain Africa's growth

03 Jun '06

3 min read

Africa's unprecedented economic growth must be sustained and must directly benefit all sectors of society, political, business and civil society leaders concluded in the closing plenary session of the World Economic Forum on Africa in Cape Town.

With an economic growth rate of 4.5 percent across Africa in 2005, Thabo Mbeki, President of South Africa, challenged participants to ensure that such figures are more than just statistics. "Does the growth create jobs?" Mbeki asked.

Tanzanian President Jakaya M. Kikwete said agricultural development is critical in delivering growth-led employment and called on private business to engage with governments in developing and "modernizing" the sector. "We look at partnerships as the key to generate further growth," said Kikwete.

Co-Chair Maria Ramos, Group Chief Executive, Transnet, South Africa, said mindsets still need to change among all role players in order to achieve sustained growth. She called on the private sector to show "courage" when taking advantage of opportunities in Africa and to foster an understanding that "for everyone to benefit (from economic growth) you need to work together."

Ramos said positive economic and political changes are taking place in Africa and that it is imperative for all to "make sure that the things we commit to, we actually do."

Co-Chair Syamal Gupta, Chairman, Tata International, India, encouragedAfrica to seek innovative solutions to its challenges and to promote small and medium enterprise development as a means of creating employment.

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