{"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":"<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><span style=\"font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">So say the<br \/>\nco \u2013chairs at the recently concluded World Economic Forum on Africa which was<br \/>\nheld in Kigali, Rwanda from May 11th -13th, 2016.<\/span><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><\/div>\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><a style=\"margin-left: 1em; margin-right: 1em;\" href=\"https:\/\/www.ubagroup.com\/57-marina\/wp-content\/uploads\/sites\/4\/2016\/05\/ElumeluatWEFA-1024x682.jpg\"><img fetchpriority=\"high\" decoding=\"async\" src=\"https:\/\/www.ubagroup.com\/57-marina\/wp-content\/uploads\/sites\/4\/2016\/05\/ElumeluatWEFA-1024x682.jpg\" width=\"640\" height=\"425\" border=\"0\" \/><\/a><\/div>\n<p>&nbsp;<\/p>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><span style=\"color: #1a1a1a; font-family: 'century gothic' , sans-serif;\"><span style=\"font-size: x-small;\">Tony O.Elumelu, Chairman UBA Plc\u00a0<\/span><\/span><\/div>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><span style=\"color: #1a1a1a; font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">\u00a0<\/span><\/div>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><span style=\"color: #1a1a1a; font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">Rwanda, the land of many hills is as beautiful as ever as<br \/>\nit welcomed 14 African heads of state and many leading African business persons<br \/>\nwho converged to discuss how to move the African continent forward.<\/span><\/div>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><span style=\"color: #1a1a1a; font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">Leading\u00a0African\u00a0businessman and philanthropist<br \/>\nTony O.\u00a0Elumelu; Akin Adesina, President of the African Development Bank;<br \/>\nGraca Machel, former first lady of Mozambique and widow of Nelson Mandela;<br \/>\nPhillipe le Houerou, CEO of the International Finance Corporation and Tarek<br \/>\nSultan Al Esso, Vice Chairman of the Board Agility were co -chairs at the World<br \/>\nEconomic Forum on Africa to discuss the 4th industrial revolution<br \/>\nand the impact it will have across the continent.<\/span><\/div>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><span style=\"color: #1a1a1a; font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">The numerous plenary sessions and discussions throughout<br \/>\nthe forum, some of which were opened by H.E President Kagame, centred on<br \/>\ncreating dynamic and effective strategies to encourage long term development<br \/>\nand continued economic growth in light of the opportunities and challenges<br \/>\nfaced on the continent. <\/span><\/div>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><\/div>\n<div class=\"separator\" style=\"clear: both; text-align: center;\"><\/div>\n<p>&nbsp;<\/p>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><span style=\"font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">According to<br \/>\nElumelu, discussing at the forum on moving Africa forward, organized by NEPAD,<br \/>\n\u201cWhen people say Africa is on the move, it is truly on the move because we have<br \/>\nan ecosystem that is supporting itself. Let us remember to keep passing the<br \/>\nbaton to others\u2019 in reference to championing young African entrepreneurs across<br \/>\nthe continent. Elumelu who has endowed $100m through his Tony Elumelu Foundation<br \/>\nin support of Young entrepreneurs with start up businesses stated that the only<br \/>\nway the continent\u2019s anticipated movement will happen is when private sector<br \/>\nhelps to create significant jobs and employment for youths thus addressing one<br \/>\nof society\u2019s most pressing needs and challenges. <\/span><\/div>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"mso-layout-grid-align: none; mso-pagination: none; text-align: justify; text-autospace: none; text-justify: inter-ideograph;\"><span style=\"color: #1a1a1a; font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">On his part, Adesina emphasized that everything revolves<br \/>\naround power in the 4th industrial revolution. \u201cWe must recognize<br \/>\nthat it(the 4th industrial revolution) is already on its way but<br \/>\neverything revolves around access to power and electricity.\u201d Creation of jobs<br \/>\nis the second issue he added.\u00a0 The huge<br \/>\nnumbers of youths who do not have jobs on the continent heighten social and<br \/>\neconomic fragility in Africa, Adesina said at the meeting of the forum\u2019s co<br \/>\nchair on the second day.<\/span><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><span style=\"color: #1a1a1a; font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">Winnie Byanyima of Oxfam who herself was not a co chair<br \/>\nreiterated that public education was one of the keys to the success of Africa<br \/>\nrising just as Graca Machel did. For Nelson Mandela\u2019s widow, education and<br \/>\ngender equality were the two main issues that needed to be resolved in order<br \/>\nfor the continent to move forward. According to her, \u201c<\/span><span style=\"font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">We have not<br \/>\nbeen able to anticipate the needs of skills. We can\u2019t move as we should if we<br \/>\ndon\u2019t take a look at how we reinvent our systems of education and private<br \/>\nsector has a role to play here along with the public sector. So systems will<br \/>\nprepare young people for the future\u201d.<\/span><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><span style=\"font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">There was no<br \/>\ndoubt that the top three main issues for the continent as emerged from the World<br \/>\nEconomic Forum on Africa are: job creation, access to power and transportation.<br \/>\n<\/span><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><span style=\"font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">On the issue<br \/>\nof poor transportation networks on the continent, Dr. Mayaki acknowledged that<br \/>\n\u201cthe competitiveness of our industries is largely affected by logistics<br \/>\nproblems in Africa.\u2019 This was further buttressed by Elumelu who explained that \u201cAfrica<br \/>\nis a continent rooted in its past. We have a transportation system conceived,<br \/>\ndesigned and built centuries ago not for the purpose of intra trade nor for<br \/>\nmoving people around, but for goods to be moved to ports. \u00a0Tareq Sultan Al Esso was in agreement and said<br \/>\n\u201cwe need to focus on trade facilitation. We have to make it easier for everyone<br \/>\nto do business. It\u2019s\u00a0 low hanging fruit\u201d.<br \/>\n<\/span><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><span style=\"font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">So again we<br \/>\nbeg the question: Is Africa rising?<\/span><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><span style=\"font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">Elumelu sees<br \/>\nthe glass as half full.\u00a0 In spite of the<br \/>\ndecline in commodity prices in the world in the past 5 years, Africa has<br \/>\nremained relatively resilient.\u00a0 For<br \/>\nElumelu \u201cI would rather invest in Africa than elsewhere in the world because<br \/>\nthe return on my investment in Africa is much higher than elsewhere in the<br \/>\nworld. I see myself as an Africapitalist and everything I do is guided by this<br \/>\nphilosophy\u2019. He enjoins Africans to develop Africa but is open to help from<br \/>\noutside of Africa. His message to foreign Aid agencies and owners of the<br \/>\nbillions of capital worldwide looking for a home: \u00a0\u2018let other wealthy Africans, friends of Africa<br \/>\nwho want to help Africa truly develop, and organisations committed to youth<br \/>\nempowerment and job creation take up the rest of the applications from our Tony<br \/>\nElumelu Entrepreneu<a href=\"https:\/\/www.blogger.com\/null\" name=\"_GoBack\">r<\/a>ship Programme.\u2019<\/span><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><span style=\"font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">As everyone<br \/>\nleaves Rwanda, a once ravaged country transformed into a beautiful African<br \/>\nhaven, it is with hope that Africa also can become transformed in a truly<br \/>\nsustainable way.\u00a0 <\/span><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><\/div>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><span style=\"font-family: 'century gothic' , 'sans-serif'; font-size: 14.0pt;\">Africa is<br \/>\nindeed rising. The continent is on the move.<\/span><\/div>\n<p>&nbsp;<\/p>\n<div class=\"MsoNormal\" style=\"text-align: justify; text-justify: inter-ideograph;\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>So say the co \u2013chairs at the recently concluded World Economic Forum on Africa which was held in Kigali, Rwanda from May 11th -13th, 2016. &nbsp; Tony O.Elumelu, Chairman UBA Plc\u00a0 \u00a0 Rwanda, the land of many hills is as beautiful as ever as it welcomed 14 African heads of state and many leading African [&hellip;]<\/p>\n","protected":false},"author":38,"featured_media":1700,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_exactmetrics_skip_tracking":false,"_exactmetrics_sitenote_active":false,"_exactmetrics_sitenote_note":"","_exactmetrics_sitenote_category":0,"footnotes":""},"categories":[1],"tags":[102,325],"class_list":["post-1052","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-lion-king","tag-entrepreneurship","tag-news"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v24.2 (Yoast SEO v24.2) - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Is Africa really Rising? 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