The relations between Africa and the world had to change to become one between equals‚ President Jacob Zuma said yesterday when opening the World Economic Forum.
He said the continent had harmonised its thinking about where it wanted to go.
“We have a vision for the future‚” Zuma told the gathering of business and government leaders from around the world.
The leaders have gathered for the two-day 25th World Economic Forum on Africa to discuss variations on the theme of Then and Now: Re-imaging Africa’s Future.
Topics under discussion include the growth of capital markets‚ financial inclusion‚ technological development‚ trade‚ governance and power generation.
Zuma noted there was growing consensus within Africa that its leaders should not serve more than two terms and the days of coups d’etat were gone.
He stressed the importance for African countries to have programmes to incorporate young people into the economy and empower them to lead. It is estimated 18 million jobs have to be created on the continent annually to absorb the young people entering the labour market.
Ghana vice-president Kwesi Amissah-Arthur‚ who also answered questions during the plenary session of the forum‚ stressed the need for education and skills development.
Barclays group chief executive Anthony Jenkins highlighted the risks to African growth‚ emphasising that for the continent to realise its potential this was not something that could be taken for granted.
“We all have to work together to create the conditions for Africa to experience and create its full potential.”
While sharing in the optimism about Africa’s future‚ Jenkins warned the world was going through structurally lower economic growth‚ which would mean every part of the globe would have to compete “vigorously and aggressively” to stake its place in the global economy.
“There are not going to be any free rides any more‚” he said‚ pointing to the importance of financial inclusion for fostering entrepreneurship and economic activity.
Trade also needed to be promoted as a spur to economic growth.
African Rainbow Minerals executive chairman Patrice Motsepe noted the difficulties African countries were experiencing at the moment as a result of the decline in commodity prices.
In this context it was critically important they remained globally competitive in terms of attracting both foreign and domestic investment to reduce poverty and create jobs.
Level playing fields, JZ tells forum
He said the continent had harmonised its thinking about where it wanted to go.
“We have a vision for the future‚” Zuma told the gathering of business and government leaders from around the world.
The leaders have gathered for the two-day 25th World Economic Forum on Africa to discuss variations on the theme of Then and Now: Re-imaging Africa’s Future.
Topics under discussion include the growth of capital markets‚ financial inclusion‚ technological development‚ trade‚ governance and power generation.
Zuma noted there was growing consensus within Africa that its leaders should not serve more than two terms and the days of coups d’etat were gone.
He stressed the importance for African countries to have programmes to incorporate young people into the economy and empower them to lead. It is estimated 18 million jobs have to be created on the continent annually to absorb the young people entering the labour market.
Ghana vice-president Kwesi Amissah-Arthur‚ who also answered questions during the plenary session of the forum‚ stressed the need for education and skills development.
Barclays group chief executive Anthony Jenkins highlighted the risks to African growth‚ emphasising that for the continent to realise its potential this was not something that could be taken for granted.
“We all have to work together to create the conditions for Africa to experience and create its full potential.”
While sharing in the optimism about Africa’s future‚ Jenkins warned the world was going through structurally lower economic growth‚ which would mean every part of the globe would have to compete “vigorously and aggressively” to stake its place in the global economy.
“There are not going to be any free rides any more‚” he said‚ pointing to the importance of financial inclusion for fostering entrepreneurship and economic activity.
Trade also needed to be promoted as a spur to economic growth.
African Rainbow Minerals executive chairman Patrice Motsepe noted the difficulties African countries were experiencing at the moment as a result of the decline in commodity prices.
In this context it was critically important they remained globally competitive in terms of attracting both foreign and domestic investment to reduce poverty and create jobs.
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