Business gets down to detail on African development plan
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| Africa's future is his future |
Yaoundé, Cameroon, 4 October 2002 - The crucial role of business in the success of the New Partnership for Africa's Development (NEPAD) will dominate a business conference here at the end of this month.
On the theme "Development through wealth creation", the African regional conference of the International Chamber of Commerce on 30 - 31 October will bring together ministers of African governments, top executives of leading international companies, and senior officials representing intergovernmental organizations.
Co-hosted by the African Business Round Table and ICC Cameroon, the conference aims to provide hard analysis of how African countries can mobilize business - both international and domestic - in support of NEPAD's economic aims.
"So far we have had plenty of expressions of intent. Now business wants to get down to specifics - for example on how to raise finance for infrastructure projects that can advance the continent's economic integration," said Mohan Kaul, Director General of the Commonwealth Business Council, who will be one of the speakers.
Alhaji Bamanga Tukur, Executive President of the African Business Roundtable, added: "It's time to pull all the various strands together after any number of business conferences on NEPAD. The African governments need to understand exactly what are the business priorities and that is what we intend to spell out in Yaoundé."
NEPAD has set itself a self-help programme that aims to reduce conflicts, improve governance and economic management, subject to peer review. It received powerful backing from leaders of the G8 major industrial democracies when they met in Alberta, Canada in June. Since then there has been growing emphasis on the business contribution to realizing NEPAD's ambitious aims of kick-starting economic growth and reducing poverty.
Business has welcomed the NEPAD initiative. A typical reaction came from Unilever Chief Niall Fitzgerald, whose company will have a top-level presence at the Yaounde conference. He described NEPAD as "the most serious and credible effort so far by African leaders to take control of their continent's destiny."
Foreign investment is seen as one of the best ways to kick-start development of Africa's economies and the conference will bring together international financiers and project planners both within and outside government. Parallel sessions will be devoted to infrastructure and industrial development and to information technology and e-commerce.
No less essential is opening up markets in the industrial world for Africa's products, particularly its agricultural exports. The conference programme includes a session on the role of international trade and investment in African development.
ICC Secretary General Maria Livanos Cattaui will chair the session. She commented: "Without the ability to sell their products abroad, the African countries will never achieve the economic growth they need. Trade barriers will cancel the benefits of aid programmes."
Even though Africa's share of world exports is only a meagre two percent, that still represents many times the amount the continent receives in aid. "Think of the effect that even a modest increase in African countries' share of world markets would have on their economic prospects," Mrs. Cattaui said.
Full programme of the ICC Africa Regional Meeting