Guebuza to Attend Economic Forum in Cape Town

2 May 2011

Maputo — Mozambican President Armando Guebuza is one of the heads of state scheduled to attend the annual World Economic Forum on Africa, being held from Wednesday to Friday in Cape Town.

This year’s meeting is being held under the slogan “From Vision to Action: Africa’s Next Chapter”.

A preliminary statement from the World Economic Forum (WEF) declares that Africa “has demonstrated greater than expected resilience through the global economic crisis, and has been one of the fastest growing regions in the world”

“Improved political and macro-economic stability”, the WEF adds, plus commitment to private sector investment and better access to basic social services “lie behind this trend”.

But the WEF admits that this does not automatically lead to development. “The translation of growth into inclusive and sustained development is complex”, the document remarks.

The WEF argues that this will depend on “the capacity and political will to direct taxes, profits and donor funds to much needed infrastructure investment”, as well as further improvements to education and health services.

A further key factor, according to the WEF, will be “innovative partnerships between business and civil society, as well as the empowerment of the small and medium enterprises that continue to be the main producers of income across the continent”.

Yet another challenge, it adds, is Africa’s “increasing exposure to global risks such as prolonged global financial instability, commodity price instability and climate change”.

The meeting will asks questions such as “How can Africa take on a leadership role and guard against emerging global and political risks?”, and how can the continent attract further investment to sustain its growth path.

Finally, the WEF asks “How can inclusive growth be fostered through partnerships and the promotion of Africa’s small and medium enterprises?”.

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