{"id":1052,"date":"2016-05-13T12:44:00","date_gmt":"2016-05-13T12:44:00","guid":{"rendered":"https:\/\/www.ubagroup.com\/57-marina\/2016\/05\/13\/is-africa-really-rising\/"},"modified":"2020-09-02T20:22:13","modified_gmt":"2020-09-02T20:22:13","slug":"is-africa-really-rising","status":"publish","type":"post","link":"https:\/\/www.ubagroup.com\/57-marina\/is-africa-really-rising\/","title":{"rendered":"Is Africa really Rising?"},"content":{"rendered":"
So say the
\nco \u2013chairs at the recently concluded World Economic Forum on Africa which was
\nheld in Kigali, Rwanda from May 11th -13th, 2016.<\/span><\/div>\n
<\/div>\n
<\/a><\/div>\n

 <\/p>\n

Tony O.Elumelu, Chairman UBA Plc\u00a0<\/span><\/span><\/div>\n
\u00a0<\/span><\/div>\n
Rwanda, the land of many hills is as beautiful as ever as
\nit welcomed 14 African heads of state and many leading African business persons
\nwho converged to discuss how to move the African continent forward.<\/span><\/div>\n
<\/div>\n
Leading\u00a0African\u00a0businessman and philanthropist
\nTony O.\u00a0Elumelu; Akin Adesina, President of the African Development Bank;
\nGraca Machel, former first lady of Mozambique and widow of Nelson Mandela;
\nPhillipe le Houerou, CEO of the International Finance Corporation and Tarek
\nSultan Al Esso, Vice Chairman of the Board Agility were co -chairs at the World
\nEconomic Forum on Africa to discuss the 4th industrial revolution
\nand the impact it will have across the continent.<\/span><\/div>\n
<\/div>\n
The numerous plenary sessions and discussions throughout
\nthe forum, some of which were opened by H.E President Kagame, centred on
\ncreating dynamic and effective strategies to encourage long term development
\nand continued economic growth in light of the opportunities and challenges
\nfaced on the continent. <\/span><\/div>\n
<\/div>\n
<\/div>\n

 <\/p>\n

According to
\nElumelu, discussing at the forum on moving Africa forward, organized by NEPAD,
\n\u201cWhen people say Africa is on the move, it is truly on the move because we have
\nan ecosystem that is supporting itself. Let us remember to keep passing the
\nbaton to others\u2019 in reference to championing young African entrepreneurs across
\nthe continent. Elumelu who has endowed $100m through his Tony Elumelu Foundation
\nin support of Young entrepreneurs with start up businesses stated that the only
\nway the continent\u2019s anticipated movement will happen is when private sector
\nhelps to create significant jobs and employment for youths thus addressing one
\nof society\u2019s most pressing needs and challenges. <\/span><\/div>\n
<\/div>\n
On his part, Adesina emphasized that everything revolves
\naround power in the 4th industrial revolution. \u201cWe must recognize
\nthat it(the 4th industrial revolution) is already on its way but
\neverything revolves around access to power and electricity.\u201d Creation of jobs
\nis the second issue he added.\u00a0 The huge
\nnumbers of youths who do not have jobs on the continent heighten social and
\neconomic fragility in Africa, Adesina said at the meeting of the forum\u2019s co
\nchair on the second day.<\/span><\/div>\n
<\/div>\n
Winnie Byanyima of Oxfam who herself was not a co chair
\nreiterated that public education was one of the keys to the success of Africa
\nrising just as Graca Machel did. For Nelson Mandela\u2019s widow, education and
\ngender equality were the two main issues that needed to be resolved in order
\nfor the continent to move forward. According to her, \u201c<\/span>We have not
\nbeen able to anticipate the needs of skills. We can\u2019t move as we should if we
\ndon\u2019t take a look at how we reinvent our systems of education and private
\nsector has a role to play here along with the public sector. So systems will
\nprepare young people for the future\u201d.<\/span><\/div>\n
<\/div>\n
There was no
\ndoubt that the top three main issues for the continent as emerged from the World
\nEconomic Forum on Africa are: job creation, access to power and transportation.
\n<\/span><\/div>\n
<\/div>\n
On the issue
\nof poor transportation networks on the continent, Dr. Mayaki acknowledged that
\n\u201cthe competitiveness of our industries is largely affected by logistics
\nproblems in Africa.\u2019 This was further buttressed by Elumelu who explained that \u201cAfrica
\nis a continent rooted in its past. We have a transportation system conceived,
\ndesigned and built centuries ago not for the purpose of intra trade nor for
\nmoving people around, but for goods to be moved to ports. \u00a0Tareq Sultan Al Esso was in agreement and said
\n\u201cwe need to focus on trade facilitation. We have to make it easier for everyone
\nto do business. It\u2019s\u00a0 low hanging fruit\u201d.
\n<\/span><\/div>\n
<\/div>\n
So again we
\nbeg the question: Is Africa rising?<\/span><\/div>\n
<\/div>\n
Elumelu sees
\nthe glass as half full.\u00a0 In spite of the
\ndecline in commodity prices in the world in the past 5 years, Africa has
\nremained relatively resilient.\u00a0 For
\nElumelu \u201cI would rather invest in Africa than elsewhere in the world because
\nthe return on my investment in Africa is much higher than elsewhere in the
\nworld. I see myself as an Africapitalist and everything I do is guided by this
\nphilosophy\u2019. He enjoins Africans to develop Africa but is open to help from
\noutside of Africa. His message to foreign Aid agencies and owners of the
\nbillions of capital worldwide looking for a home: \u00a0\u2018let other wealthy Africans, friends of Africa
\nwho want to help Africa truly develop, and organisations committed to youth
\nempowerment and job creation take up the rest of the applications from our Tony
\nElumelu Entrepreneur<\/a>ship Programme.\u2019<\/span><\/div>\n
<\/div>\n
As everyone
\nleaves Rwanda, a once ravaged country transformed into a beautiful African
\nhaven, it is with hope that Africa also can become transformed in a truly
\nsustainable way.\u00a0 <\/span><\/div>\n
<\/div>\n
Africa is
\nindeed rising. The continent is on the move.<\/span><\/div>\n

 <\/p>\n

<\/div>\n","protected":false},"excerpt":{"rendered":"

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