Africa to 2015 and beyond!

	Networking Forum with Mr. Stanley Subramoney, Joint Deputy CEO and Executive Committee member of Pricewaterhouse Coopers & Director of the NEPAD Business Foundation
Proudly sponsored by Africa to 2015 and beyond! Download the presentation (PPT, 2.3mb) Africa is at a crossroads, with the pressures of change blowing stronger. Future failures will be states that cannot change due to entrenched dictatorship, command driven economies or corrupt regimes. African leaders need to invest in education in their countries so citizens can become competent and globally competitive. The New Partnership for Africa’s development (NEPAD) and the Commission for Africa are aimed at bringing hope and vision to the African continent. Central to the African Union (AU) and the Nepad programmes is the importance of promoting good governance, peace and security and economic development. Mr. Stanley Subramoney will be the guest speaker at this Networking Forum and will be addressing guests regarding the future of Africa to 2015 and Beyond.

Talks Ngozi Okonjo-Iweala: How to help Africa? Do business there

Ngozi Okonjo-Iweala, former Finance and Foreign minister of Nigeria, known for her tough policies on corruption and debt reduction, is next on stage -- she provides somehow a link to the upcoming TEDGLOBAL in Tanzania next June. There are stories about Africa that you hear all time: the Africa of poverty, violence, HIV/AIDS, disaster. But there is an Africa that you don't hear often about, the Africa that's changing, the Africa of people that are taking their destiny into their hands. In Sept 2005, the governor of one of the richest oil states in Nigeria, was arrested in London because of money transfers in the millions that went into an account that belongs to him and his family. Today he is in jail. This is not trivial: people in Africa are no longer willing to tolerate corruption from their leaders. People want their resources managed properly for their good, not stolen by the elites. In some countries people and governments are fighting corruption. There is still a long way to go, but there is a will there. Figures show that the trend is downwards in terms of corruption, and governance is getting better.
There is a will for reform. Africans are tired of being the subject of everybody's charity. We are grateful, but we know that we can take charge of our destiny if we have the will to reform. No one can do it but us. We can invite partners that can support us, but we have to start, reform our economies, change our leaderships, become more democratic and open. Nigeria has 140 million chaotic people but very dynamic people. We put forward a comprehensive reform program which we developed ourselves (not the World Bank or others). A program that would get the state out of businesses it should not be in, because it is often inefficient and incompetent. At the end of 2003 we started privatizing markets. We had a telecom company that had developed 4500 land telephone lines in its whole life. After liberalization of the telecom market, we went to 32 million GSM mobile phones. The other thing we have also done is to manage our finances better. In Nigeria the oil sector had the reputation of being corrupt. We introduced a fiscal rule that de-links our budget from the oil price, and began to budget at a price lower than the oil price. It was very controversial, but it took out the volatility from the system, and we are able to save and create reserves. Brought inflation down to 11%, GDP growth up to 6%. We want to get away from oil and diversify. Most of our growth came from non-oil sectors.
There is a new wave in the continent, of democratization and reform. Not everything is perfect, but the trend is clear. The average rate of growth in the last three years has moved from 1.5 % to 5%. Things are changing. Conflicts are down. The best way to help Africans today, is to help them to stand on their own feet, by helping in creating jobs. There is no issue in fighting malaria, of course. But imagine the impact if the parents can have jobs and buy the drugs to fight the disease themselves. And some of the best people to invest in on the continent are the women.
She concludes by mentioning the Africa Open for Business documentary featuring African entrepreneurs.

Source:
http://www.lunchoverip.com/2007/03/ted2007_serious.html

Her full presentation is on
http://www.ted.com/index.php/talks/view/id/127