Nepad Summit takes africa into the future
News
it’s all systems go for the Gauteng NEPAD Summit, which takes place at the Sandton Convention Centre between 3-5 March, following the event’s successful launch in Pretoria last week.

The launch was attended by ambassadors from across Africa, top NEPAD leaders, Gauteng Economic Development Agency (GEDA) acting CEO, Mudunwazi Baloyi, and the mayor of Tshwane, Dr Gwen Ramokgopa.

The Summit is undoubtedly the most important event on the African business calendar this year.

It will focus on promoting regional integration on the continent at a time when the need for such initiatives is more pressing than ever.

The event will see the coming together for the first time ever of a wide range of African business leaders from Trade, Investment and Economic Development organisations.

An initiative of GEDA and the Gauteng Provincial Government, the Summit will also be attended by African government representatives and observers from International Economic Development Agencies.

Discussions at this prestigious event will culminate in the establishment of the first ever African Economic Development Agencies Secretariat Office. This office will not only enhance African trade and investment opportunities but will also promote foreign direct investment into Africa on a scale not previously seen on the continent.

NEPAD’s rationale is short and simple: it is a development plan that aims to promote sustainable and self development. It seeks to liberate Africa from its history of underdevelopment, poverty, war and corruption.

In essence, the Summit aims to take the NEPAD agenda forward by highlighting the myriad business opportunities available across Africa today and explore ways to best capitalise on them.

It is the first ever NEPAD Summit at sub-national level, following various national events, and takes the NEPAD agenda forward towards practical implementation and sharing of opportunities.

The Summit will focus on, among other things, infrastructure, energy, ICT, Agro-processing, mining and mining equipment, planning and coordination.

To overcome the backlog of underdevelopment in Africa NEPAD calculates and builds a plan around achieving an annual growth rate of 7 % for the next 15 years and securing financing of $64 bn per year to accomplish its development goals.

These resources will go into a series of key projects aimed at stimulating regional and integrated development, building economies of scale and harmonisation of industries on a continental basis.

African countries are offered various incentives to get them to endorse and comply with NEPAD's objectives and principles. NEPAD is "marketed" as an African plan aimed at ensuring Africa takes the lead in complying with democratic governance, peace building, respect for human rights and sound economic policies that will provide confidence to investors.

GEDA, on the other hand, remains the first point of contact for smart investors and entrepreneurs who want to unlock value in Gauteng and beyond. Since its inception GEDA has generated investment totaling over R10-billion. This equates to an average rate of between R1.5-billion and R1.6-billion per financial year.

Gauteng, for its part, has continued to strengthen its position as the economic engine of the country and the continent, by contributing nearly 43 percent of the country’s Gross Domestic Product (GDP).

The Summit comes at a time when the province is moving full-steam ahead with preparations for the 2010 World Cup, certain to be the biggest event ever staged in Africa. The event is widely seen as an African World Cup, and Gauteng’s role in hosting this massive occasion is pivotal to its success.

The Summit also occurs at a time when Gauteng is forging ahead with its Global City Region (GCR) initiative, which enhances the province’s advance as a competitive global player.

Representatives from all African Economic Development Agencies will attend this critical Summit, as will representatives from their international counterparts. It is Africa’s chance to plan the way ahead, and to expand business across the continent in the years and decades to come.

Many observers believe Africa today can be summed up in one word: Opportunity. The Summit recognises this as no similar event has before.

The Summit is designed with an overarching goal in mind: to ensure that Africa capatilises on the myriad investment and trade opportunities that currently present themselves across the continent.

The event occurs at a time when the world faces its most serious economic crisis. Africa is part of that world, and as such the continent will grapple with challenges similar to those faced by countries across the globe.

But now, more than ever, Africa is poised to take its proverbial place in the economic sun. The Gauteng NEPAD Summit is the single most important vehicle for plotting the road ahead – a road not entirely lined with gold but nevertheless dotted with opportunities at every turn. 

Those opportunities must be grasped – and the time to grasp them is now.