World Cup Africa 2010

South Africa has become a member of a European institute that makes joint use of radio telescopes spread across the world to produce the clearest available images of some of the most distant and energetic objects in the universe.

The Joint Institute for Very Long Baseline Interferometry in Europe (Jive) last week welcomed South Africa's National Research Foundation (NRF) as a member.

JIVE's funding organisations already include the National Astronomical Observatories of China, as well as European national research councils and facilities in France, Germany, Italy, the Netherlands, Spain, Sweden and the UK.

Jive supports the European VLBI Network (EVN) of radio astronomy facilities, which collaborates with international facilities to conduct Very Long Baseline Interferometry (VLBI), an astronomical technique "that uses widely separated radio telescopes in conjunction with each other to simulate a single telescope hundreds or thousands of kilometres in diameter," Jive said in a statement last week.

"This technique produces the clearest, highest resolution images of some of the most distant and energetic objects in the universe."

South Africa's Hartebeesthoek Radio Astronomy Observatory (HartRAO) has been an active member of the EVN since 2001, and its 26-metre dish has participated in EVN observations for an even longer time.

HartRAO is also working with various African countries to convert obsolete satellite communications dishes across the continent into radio telescopes to create an African VLBI network which, it is planned, will also collaborate with Jive.

South Africa's radio astronomy - and VLBI - capabilities will be hugely augmented when the Karoo Array Telescope (also known as the MeerKAT), a 64-dish precursor instrument for the Square Kilometre Array, is commissioned in 2014/15.

"The formal addition of the NRF as a full Jive member signals the NRF's commitment to VLBI and to the future of our collaboration in the EVN in particular," said Jive director Huib van Langevelde.

"The NRF partnership commits Jive to actively assist in making these facilities successful new additions to the VLBI network.

"Hartebeesthoek's participation in VLBI observations over the past several years has improved the performance of the EVN tremendously," Van Langevelde said. "We look forward to observing together with these new South African telescopes to further strengthen the EVN."

SAinfo reporter

View our collection of some of the best satellite images of South Africa.

The 2012 Tour de Free State, a five-day tour backed by world cycling's governing body, the UCI, takes on extra significance in its second year because it will be the only Olympic qualifying road race for women in Africa.

The success of the inaugural Tour de Free State in 2011 opened the door for the second running of the annual event to be featured as a UCI 2.1 WE race by the UCI (Union Cycliste Internationale), making it an Olympic qualifier.

Besides being the first ever UCI women's road cycling tour in South Africa, the tour, which runs from 23 to 27 May, is also the last opportunity for nations to increase their national rankings before the UCI's 31 May deadline for qualification for the London Olympic Games.

Currently, South Africa is ranked 17th with 241.5 points. As it stands today, Brazil is in 13th place, the "hot seat", with 287 points, leaving the South African women needing 47 points to make the grade.

Tough competition

With time running short, the nations that trail South Africa in the rankings will be out in full force to move up in the standings, so the competition in the Tour de Free State is sure to be tough.

"The top five teams on the UCI women's elite road cycling national rankings can send four riders to the Olympics," explained Barry Austin, Cycling South Africa's national road manager and Olympic code manager. "Teams six to 13 can send three riders and teams 14 to 23 can send two.

"The Tour de Free State will see battles for the top 13, as in South Africa's case as we are striving to qualify three riders for the Olympics, as well as fierce competition for the final five places, with the likes of Sweden and Russia vying for those points to send four riders instead of three.

A major benefit

"So the impact is great, but also fair, as we have to deserve our slots, but having the race on home ground will be a major benefit," he added.

Although there will be a major focus on the women's UCI elite racing, the open elite races will allow for the participation of men, from professional to amateur road racing teams.

For the UCI and Open Elite races, participants can register through the Cycling South Africa website.

In addition, community races of 10km will be staged to provide communities with the opportunity to raise money for local charities and schools. This will be done by cyclists obtaining sponsors for the number of kilometres they complete.

Interested parties and schools can obtain the forms from the Tour de Free State website.

TOUR DE FREE STATE RACE SCHEDULE

Day 1: 23 May

UCI race – Willem Pretorius Nature Reserve (Winburg), Virginia, Theunissen, ends Brandfort
Community race – Brandfort

Day 2: 24 May

UCI race – Jagersfontein, ends Bloemfontein

Day 3: 25 May

Elite open – Clarens
Community race – Ficksburg

Day 4: 26 May

UCI & Elite open – Clarens, Bethlehem, Fouriesburg, ends Clarens
Community race – Clarens

Day 5: 27 May

UCI & Elite open – Clarens, Phuthaditjhaba, ends Clarens

SAinfo reporter

If African leaders can deliver on jobs, justice and equity, they will turn Africa's population boom into a demographic dividend and ensure that the continent's massive growth promise is fulfilled - if not, they will court disaster, according to the 2012 Africa Progress Report.

The report is the flagship publication of the Africa Progress Panel, a group of distinguished individuals dedicated to encouraging progress in Africa.

Released during the World Economic Forum on Africa in Addis Ababa, Ethiopia on Friday, the report warns that the continent's strong economic growth trajectory - the region is forecast to grow at over 5 percent over the next two years - is at risk because of rising inequality and "the marginalisation of whole sections of society".

"Disparities in basic life-chances – for health, education and participation in society - are preventing millions of Africans from realizing their potential, holding back social and economic progress in the process," former UN secretary-general Kofi Annan, the panel's chair, states in the report.

The report notes that Africa has seven of the world's fastest-growing economies, with 70% of continent's population living in countries that have averaged economic growth rates in excess of 4 percent over the past decade.

However, it also records, most countries are not on track to achieve the UN's Millennium Development Goals by 2015, flagging slow progress in areas such as child nutrition, child survival, maternal health and education.

'Profound demographic shift under way'

The need for equitable growth is all the more critical, the report states, because of Africa's "profound demographic shift", which will see the continent's population double over the next three decades and continue to rise into the second half of the twenty-first century.

The report highlights that today there are 70-million more Africans aged under 14 than there were a decade ago. Over the next decade, that number will rise by another 76-million.

The report calls for a "relentless focus" by policymakers on jobs, justice and equity to ensure sustainable, shared growth that benefits all Africans. Failure to generate equitable growth could result in "a demographic disaster marked by rising levels of youth employment, social dislocation and hunger".

Africa's governments and development partners must urgently draw up plans for a big push towards the 2015 Millennium Development Goals, the report says.

Challenges highlighted

Challenges highlighted as demanding urgent action from governments include:

Youth employment: Africa's youth population (15-24 year olds) will rise from 133-million at the start of the century to 246-million by 2020 - requiring another 74-million jobs over the next decade simply to prevent youth unemployment from rising. The report sets out an agenda for raising skills and generating rural jobs through off-farm employment.

Smallholder agriculture: In the absence of a concerted effort to raise the productivity of smallholder agriculture, the report cautions that Africa will remain vulnerable to food security crises. It identifies "land grabs" by foreign investors and speculators as a major threat and urges African government to consider stronger regulation.

Education: The report calls for urgent action to tackle what it describes as a "twin crisis" in access and learning. With 30-million children out of school and many of those in school failing to master basic literacy, Africa is ill-equipped to generate jobs and take its place in a knowledge-based global economy. The report calls for a strengthened focus on education and the creation of appropriate funding mechanisms.

Global economic governance and aid: The report notes that Africa still has a weak voice in areas - such as trade, finance and development assistance - that have a critical bearing on its citizens. The report adds that aid remains vitally important and that African governments and development partners must deliver on their commitments in a transparent and accountable way.

Growth 'not benefiting enough people'

"Africa is rising and African economies are growing faster than those of almost any other region in the world," Caroline Kende-Robb, the panel's executive director, said in a statement on Friday.

"However, the current pattern of trickle-down growth is not benefiting enough people. Indeed, benefits measured by poverty reduction, maternal health and childhood survival fall far short of what Africans have a right to expect."

The Africa Progress Report "calls for renewed focus on jobs, justice and equity to ensure that Africa’s impressive economic growth is translated into shared growth for all Africans," Kende-Robb said.

Annan said the overall message of this year's report was positive, noting that Africa was on its way to becoming "a preferred investment destination, a potential pole of global growth, and a place of immense innovation and creativity.

"But there is also a long way to go - and Africa's governments must as a matter of urgency turn their attention to those who are being left behind.

"I believe Africa and its leaders can rise to this challenge," Annan said. "If they do, Africa will become more prosperous, stable and equitable. This is a prize which we all, wherever we live, will share."

SAinfo reporter

It is time to move past diagnosis of why African countries do not trade with each other nearly as much as they should, World Trade Organization director-general Pascal Lamy told participants at the World Economic Forum on Africa in Addis Ababa, Ethiopia on Thursday.

The issue was not about diagnosis of what needed to be done, but on how to do it, Lamy said a conference session on intra-African trade.

"We know that the necessary initiatives have to happen at the regional level. Regional organizations have to address these problems one by one. The key to removing these bottlenecks lies in the political energy of regional leaders to do it."

Obstacles to intra-African trade, delegates were told, include inadequate or non-existent infrastructure, complex bureaucratic procedures, inefficient border administrations, regulatory discrepancies that hamper trade and economies of scale - and, more recently, the tightening up of trade finance.

"Trade finance is the oil of trade, and there is a potential problem given new financial regulations that have been developed worldwide since the [2008-09 global] financial crisis," Lamy said.

Regulatory environment 'must be harmonized'

Africa's trade landscape is characterized by a patchwork of trade rules and regulations that make cross-border trade cumbersome and, at times, impossible, delegates heard. The regulatory environment across the continent would have to be harmonized before Africa could realize its potential as a global trade powerhouse.

If national governments could get their priorities clear on this, Lamy said, they would find there was plenty of funding available to help them achieve it.

"African countries and regions need to set up a list of priorities of what needs to be done, and do it. It is not a problem of resources - we have the resources. The Aid for Trade lesson is that once countries have their priorities clear, money is not a problem."

African companies would not become global players until they captured regional markets, warned Jaidev Shroff, chief executive of United Phosphorus of India.

"There is a lot of talk about Africa becoming a global supplier of food, energy, minerals, etc," Shroff said. "But until governments make the business environment more competitive, it is going to be very difficult to achieve."

Increasing, diversifying productive capacity

For Ethiopian Industry Minister Mekonnen Manyazewal, infrastructure and the capacity to manage and facilitate trade was "a basic", but the need to reduce costs and diversify countries' economic base was also paramount.

"The issue of increasing our productive capacity and diversifying our products are key for trading," Manyazewal said. African countries also needed to diversify their economic bases, he said.

"It is time to look for quick wins by analysing the value chains from production to the markets and find the constraints that can be overcome through better coordination, better administration and efficiency."

Manyazewal called on the private sector to invest in Africa's productive capacity, echoing calls by both Lamy and Jean-Louis Ekra, president of the African Export-Import Bank, for the private sector to mobilize and create "bottom-up pressure" on politicians to address the issues of trade openness and competitiveness.

Call for private sector to engage

"A few African entrepreneurs understand trade issues," said Ekra. "It is important that they build capacity on these issues so they can put pressure on the government to negotiate in their favour."

In the wake of the global financial crisis, many national banks are cautious, which is why one of the roles of the African Export-Import Bank was to allow banks to feel more secure about instrument issued by other banks, Ekra said. The private sector needed to engage in this issue.

"Once the African private sector talks to itself and speaks with one voice, there are grounds to improve and increase the level of transactions among them."

Mahmoud Eisa, Egypt's minister of industry and foreign trade, pointed out that Africa should have a target to increase its percentage of global trade from 4%, and should set a target for intra-African trade.

But trade without infrastructure "will always be an intention rather than an accomplishment", Eisa added. Transport and communications were critical, but so was infrastructure such as laboratories, regulation and trade policies.

Eisa pointed to the European Union, where trade regulations are harmonized, as a model. He also called for stronger standardization in the light of a "weak" African Regional Organization for Standardization.

Source: World Economic Forum

Open for business

First-world infrastructure plus a vibrant emerging market equals huge investment potential!

African agriculture is undergoing a transformation, creating a new era of opportunity for both farmers and investors, according to African and global leaders at the World Economic Forum on Africa.

The Grow Africa Investment Forum, convened jointly by the African Union, Nepad and the World Economic Forum (WEF), engaged over 270 leaders at the gathering in Addis Ababa, Ethiopia on Thursday.

These included heads of state and government from Ethiopia, Rwanda and Tanzania, as well as leaders of African and global business, international and donor agencies and farmer organizations.

Huge investment potential

Forum participants noted that African agriculture offers tremendous growth potential to investors, which in turn promised to strengthen food security and economic opportunity on the continent.

Greater private-sector investment and improvements to the business enabling environment were needed to capture this potential, delegates were told.

The leaders noted that much of the continent's agricultural potential remains untapped. "We have scratched the surface, but we haven't yet broken the mould," said Ethiopian Prime Minister Meles Zenawi. "When we do that, you will see the explosion of development in Africa."

During Thurday's session, seven countries showcased specific investment and partnership opportunities aligned to their national priorities for agricultural transformation.

'We are ready to do business'

"We are ready to do business; that's why we came to this meeting," said Tanzanian President Jakaya Kikwete, noting that Tanzania's agriculture investment strategy prioritized groups that could most benefit from new market opportunities.

"When we bring in the private sector, it is to benefit the smallholder farmers," Kikwete said. "We need to modernize agriculture and make it more attractive to youth."

President Kikwete added that governments had an important role to play in providing support in areas of irrigation, inputs and building commodity markets. However, private sector investment was also essential in order to avoid over-dependence on subsidies.

Rwandan President Paul Kagame said that African countries could "mobilize farmers into an entrepreneurial mindset and create new opportunities for women, youth and rural entrepreneurs."

'New ways of leveraging the agriculture sector'

The Grow Africa partnership has developed significant momentum since it was launched at the 2011 World Economic Forum on Africa in Cape Town, South Africa.

A total of 116 companies participated in the Grow Africa Investment Forum, including 49 African and 47 multinational companies, plus 20 from other regions such as Asia and the Middle East.

"Much of the investment in Africa can come from Africa if we provide the right financing mechanisms and policy environment," said African Export-Import Bank president Jean-Louis Ekra.

According to Unilever executive vice-president Frank Braeken, African leaders "are defining new ways to leverage the agriculture sector as a driver of inclusive and sustainable growth. This offers new agribusiness opportunities that are increasingly attractive to investors."

Empowering African farmers 'crucial'

Participants agreed that empowering African farmers would be central to the future of agriculture on the continent.

"Smallholder farmers are a sleeping giant in Africa," said Dyborn Chibonga, CEO of the National Smallholder Farmers' Association of Malawi. "That sleeping giant needs to be mobilized into collective action groups."

Ethiopian Prime Minister Meles Zenawi said the way to realize this was through increasing the productivity of small farmers and having them well organized and collaborative in order to take advantage of supply chains and investments

Ethiopia has achieved significant gains in agricultural productivity using this model in recent years, setting aside 16% of its national budget for agriculture - well above the 10% to which all African governments have committed themselves.

The Grow Africa partnership, coordinated by the African Union, Nepad and the WEF, aims to "galvanize sustainable investment into African agriculture based on country-led priorities," the WEF said on Thursday.

According to the WEF, Grow Africa builds upon the CAADP, which works to boost African agricultural productivity through sector development plans. Rwanda, Burkina Faso, Tanzania, Mozambique, Ghana, Kenya and Ethiopia are the first countries to engage with Grow Africa.

"The Grow Africa platform is open to all countries, and can accelerate the implementation of national investment plans developed through the Comprehensive African Agricultural Development Programme," said African Union chairperson Jean Ping.

The potential seen in African agriculture presents a transformational opportunity, according to WEF vice-chairman Josette Sheeran. "Working together, we can ensure that when we meet in 10 years, it will be in an Africa that is not only feeding itself, but helping to feed the world."

SAinfo reporter and World Economic Forum

Open for business

First-world infrastructure plus a vibrant emerging market equals huge investment potential!

Brad Morgan

Former Proteas wicketkeeper Dave Richardson has been selected by the International Cricket Council (ICC) board to succeed fellow South African Haroon Lorgat as chief executive. Richardson's name will be recommended at the ICC's annual conference in June.

There were four candidates for the position, but it came down to a choice between Richardson and England and Wales Cricket Board CEO David Collier, with Richardson cracking the nod after a meeting of the ICC nominations committee in Mumbai, India this past weekend. He will become the first former test cricketer to hold the position.

On hearing of his nomination, Richardson told the ICC: "It is a great honour to be nominated to be chief executive of the ICC. I am delighted with this opportunity and thank the ICC board for their approval.

'A privilege'

"It has been a privilege to serve as ICC general manager of cricket, and that work will continue until such time as the ICC annual conference ratifies my nomination," Richardson said. "I am looking forward to working closely with all the membership and stakeholders in the game.

"It is an honour to be following a fellow South African, Haroon Lorgat, in this role. I have learnt a lot under his leadership and thank him for his support in the last four years."

Richardson, a qualified lawyer, has served as the ICC's general manager for the past decade, and that experience played a big role in his selection to the post of CEO.

'The most important thing'

ICC president Sharad Pawar told ESPN Cricinfo: "What made Richardson the most suitable candidate was his knowledge of the ICC, and that was the most important thing.

"He was an internal candidate. He is a former test player and brings a lot of international cricket experience to the table," Pawar said.

"In addition, he has been working with the ICC for quite long and is completely aware about the ICC operations and the members. All this only made it a unanimous decision."

Cricket career

Richardson played 42 tests for South Africa, claiming 150 catches and two stumpings.

He scored 1 359 runs at an average of 24.26, including one test century, 109, against New Zealand in Cape Town in January 1995, when he was named man of the match and man of the series. He had missed out on a century in the first test by only seven runs.

Richardson also played in 122 one-day internationals in which he made 148 catches and 17 stumpings. He scored 868 runs at 19.72.

His son, Michael, is also a wicketkeeper and plays for English county Durham.

Some of the most expensive properties in South Africa have been bought by foreigners, it's true. It is also true that the Western Cape especially is home to small colonies of Germans, French and British expats. You can even buy proper Austrian meatloaf and German magazines in Constantia in Cape Town.

Currently there is a small, but notable, trend establishing itself: British retirees are increasingly looking to South Africa in their golden years. It turns out that it’s not just due to the fantastic climate or amazing scenery - it's about saving their pensions.

'Solvency-II for pensions'

Due to the worldwide economic crisis, there have recently been a number of proposals - dubbed the "Solvency-II for pensions" - made by the EU that directly affect pensioner's pockets.

The Telegraph reports that the country's biggest companies (6 850 companies with final salary pension schemes) could see their liabilities skyrocketing to more than double what they are now, and analysts warn that this could force them to close.

The bad news continues; according to the Alexander Forbs National Pension Index, retirement incomes in the UK have fallen by £13 000 since 2000. Richard Evans illustrates the real term implications of this in The Telegraph with the analogy that a 30-year-old could expect two-thirds of his or her final salary in 2000. That number has gone down to 39 percent.

SA one of seven 'places to retire'

What does any of this have to do with the South African property market?

Quite a bit in fact; due to the weak local currency, a British retiree can live well in South Africa - even on a diminished pension. Shelter Offshore, an international expatriate advisory website, indicates that South Africa is currently rated among the seven places to retire for an affordable lifestyle, along with Argentina, Northern Cyprus and Slovenia.

 Importantly, foreign pensions are not taxed here, whereas a tax-free income limit of £9 205 only will apply as of 2013, after which a tax of 20 percent to 45 percent will take effect in the UK.

Craig Featherby, Cape Town-based regional manager of deVere Group, a UK financial advisory firm, recently revealed that "over-55s have lost faith in the UK's economy, tax and pension system; last year 252 000 people left the UK, and 24 000 of them came to SA.

"Certain fears may remain as far as currency fluctuations are concerned, but retiring here must be an attractive option, I think interest might well increase," believes Jan le Roux, CEO of Leapfrog Property Group.

It is safe to assume that many of these retirees will invest in the local property market in their favoured areas: Cape Town, the KwaZulu-Natal coast and, occasionally, in Sandton, Johannesburg.

Local market to benefit

It is true that foreign investment makes a small contribution to the local property market.

According to the FNB Property Barometer, the impact remains unchanged at four percent. The report does look back at the heydays of 2008, where these investments comprised 20 percent of the market. It is safe to say that such peaks will not soon be repeated.

"That being said, four percent may sound low but, one must keep the domino effect in mind; today's sellers are often tomorrow's buyers," says le Roux.

As such, South Africa isn't set to become another Mallorca, where over 60 percent of properties are not owned by local Spaniards but by other nationalities. But it does seem that the local property market could benefit from British pensioners moving here.

Sapa

Opportunities, incentives, regulations, assistance.

Africa's growth trajectory remains positive despite the current global economic turmoil, with sub-Saharan Africa set to grow at more than 5% over the coming decade, Brand South Africa said as international business and political leaders gathered in Addis Ababa, Ethiopia for the World Economic Forum on Africa.

"Africa offers the highest returns on investment of any region and is home to seven of the 10 fastest-growing economies in the world," Brand South Africa said in a statement on Thursday.

The Economist projects that WEF Africa host Ethiopia's economy will grow at 8.1% between 2011 and 2015, making it the third-fastest growing economy in the world.

Over the last decade, the continent's economic output has tripled, while sub-Saharan Africa's grow over the coming decade, at a projected average 5%, would make the continent second only to emerging Asia as the fastest-growing region in the world.

Yet, according to Brand South Africa CEO Miller Matola, Africans "have not defined their economies and growth prospects to the world, but have allowed international bankers, political analysts and credit ratings agencies to take the initiative and write up - or sometimes belittle - the African growth story".

Africans 'more confident in their continent'

Speaking in Addis Ababa on Thursday, Matola said Africans were now demonstrating greater confidence in their continent.

"According to recent Ernst & Young research, three of the top five fastest-growing investors into new projects in Africa between 2003-2011 were the African economic powerhouses - South Africa, Nigeria and Kenya," Matola said.

South African investment into Africa grew at a rate of 64.8% in this period.

Regarding the various factors behind Africa's phenomenal growth since the turn of the century, Matola said these included greater democratisation and stability, economic reform, urbanisation, improved uptake of ICT and financial services, a younger, growing and more affluent population, and the ongoing resources boom.

According to Matola, the world is slowly waking up to the massive projects under way to build new roads, rail, ports and other infrastructure to link previously isolated countries and regions - to be accompanied by the expansion of free trade areas which will eventually encompass the whole continent.

South Africa 'pushing African investment, integration'

To encourage further continental growth, South Africa is orientating its government policies, regulations and institutions to support African investment and integration.

"Over the last decade South Africa has been the leading foreign direct investor in Africa, though it is now being joined by China and other developing nations," Matola said. "Now our state institutions have been authorised to invest - particularly in infrastructure and industrialisation."

The Industrial Development Corporation (IDC), South Africa's state-owned development finance institution, has expanded its remit to include African investment and has established relationships with development finance institutions and regional forums in 34 African countries.

The IDC will consider new or existing companies within Africa with funding needs of up to R1-billion (US$125-million).

South Africa's Public Investment Corporation (PIC) - which mainly manages government workers' pensions and has over R1-trillion ($125-billion) in funds - has set 10% of its funds aside for international investment, half of which will be in Africa.

Of this, 40%-60% (up to $3.8-billion) will be earmarked for private equity.

Most pessimistic 'the ones not doing business here'

According to the recently released Ernst & Young 2012 Africa Attractiveness Survey, foreign direct investment projects in Africa grew 27% between 2010 and 2011.

"Unsurprisingly, the report found that people already doing business in Africa were extremely positive," Matola said.

"There are lingering negative perceptions - but only among those who are not yet doing business in Africa. Executives who don't do business here, those who have the least exposure - and one presumes the least knowledge - are the most negative about Africa."

To participate in the African growth story, Matola said South Africa was investing heavily to improve its competitiveness and reduce unemployment.

"Over the next few years we are spending hundreds of billions of dollars on regional and South African infrastructure. This will enhance our advanced network of roads, ports, rail and communication networks which offer a trade link for the landlocked countries in southern Africa to the world, making South Africa a regional transhipment hub for sub-Saharan Africa."

Integrated Africa 'on the way'

According to Matola, no country in Africa can reach its full potential by working in isolation.

"As South Africa, we will leverage our membership of BRICS [the Brazil, Russia, India, China and South Africa grouping] to increase trade and investment into Africa and support the African agenda.

"African countries should also promote their regional as well as their national advantages," Matola said. "Investors are very excited about the pending 26-nation free trade area covering Southern, Central and East Africa.

"By June 2014, nearly 60% of the economy of Africa, with a combined GDP of $1-trillion and encompassing 600-million people, will be a single free trade area.

"Already we are creating the urban development corridors, the networks of interlocking regional infrastructure, and the reducing the non-tariff barriers which will unlock these huge markets."

South Africa, with its sophisticated and well-regulated banks, capital markets and services sectors, is being used as a deal-making, financial and professional services hub for the entire region to provide access to capital for African businesses and support inward investment and trade.

Matola said there was an uplifting optimism in the air of Ethiopia's capital.

"There is a strong feeling that the continental progress in good governance and the more than decade-long growth spurt can be made sustainable. African countries and businesses seeking investment must tell their own story - or risk being misunderstood by potential investors and supporters.

"Africa's time has come," Matola said. "It's time the world knew."

SAinfo reporter

First-world infrastructure plus a vibrant emerging market equals huge investment potential!

While Africa has experienced its best decade of the past 50 years, there are major challenges still to be tackled, African Development Bank Tunisia president Donald Kaberuka said at the opening of the World Economic Forum on Africa in Addis Ababa, Ethiopia on Thursday.

"We should not confuse economic growth with economic transformation," Kaberuka said, noting that the structure of African economies had not changed fast enough and that countries remained vulnerable to external shocks.

Public policy choices should target ways to leverage wealth from natural resources for broad-based, sustainable growth, Kaberuka said, identifying two key drivers for the future: the education of children of the poor as a tool to address generational change, and the development of small and medium enterprises to close the wealth gap.

Over 700 participants from more than 70 countries are taking part in the three-day WEF on Africa, the first to be held in Ethiopia.

Time for Africans 'to take ownership'

Monhla Hlahla, chairperson of South Africa's Industrial Development Corporation (IDC), told the plenary that it was time for Africans themselves to occupy centre stage on the continent and to take ownership of their lives and production.

African farmers were now in a position "not only to produce coffee beans but also to taste the coffee", Hlahla said, but added that strong and decisive leadership was required to keep African development on track.

She said the future of the contintent called for leaders that were predictable and consistent, and that were able to move Africa up the value chain.

No growth 'if millions are left behind'

Kofi Annan, chairman of the Alliance for a Green Revolution in Africa and the Africa Progress Panel, Switzerland, emphasized the need to empower young people and to strengthen health and education to ensure that Africa reaped a "demographic dividend" over the next decade.

Annan told delegates that African government policies needed to create equal access to opportunities to avoid dissatisfaction in the future. "We cannot talk of growth when millions of people are left behind," Annan said.

A lack of consensus and vision had led to a situation where each new government in Africa had a tendency to start afresh instead of building on the achievements of its predecessor, Annan said.

It was therefore important for more debate to take place to reach consensus on the direction countries needed to take.

Bekele Geleta, secretary-general of the International Federation of Red Cross and Red Crescent Societies, told the plenary that it was important for Africans to feel that they had a stake in their countries' wealth, and that there was free and fair opportunity for everyone.

Geleta said the mindset within Africa was changing, with Africans increasingly wanting to shape their own lives and actively engage in their future.

Mood of 'pragmatic optimism'

Gao Xiqing, president of the China Investment Corporation, said Africa was in the position of being able to create a new template for its future.

However, Xiqing said it was important for African countries to ensure that their growth was as inclusive as possible. In this, he said, Africa could learn from China, which had prioritized growth over development and was now facing challenges such as huge wealth inequality and environmental problems.

World Economic Forum chairman Klaus Schwab told delegates that the mood in Africa today was quite different from what it was 22 years ago, having moved from one of cynicism through scepticism and then realism to today's atmosphere of "pragmatic optimism".

Doug McMillon, chief executive of US retail giant Wal-Mart, told the plenary that, while its $2.4-billion investment in Africa - through the acquisition of South African retailer Massmart - the company was excited by the numbers it looked at before making the decision to invest.

"There are a lot of things to be optimistic about in the region," McMillon said.

SAinfo reporter

Two South Africans were among five leading innovators named African Social Entrepreneurs of the Year at the World Economic Forum (WEF) on Africa in Addis Ababa, Ethiopia on Wednesday.

Paul Matthew, Africa director of innovative public-private health partnership North Star Alliance, and Andrew Muir, executive director of the Wilderness Foundation, were honoured by the Schwab Foundation for Social Entrepreneurship on the opening day of the latest WEF gathering on the continent.

The five winners received their awards from WEF chairman Klaus Schwab in the presence of the presidents of Gabon, Nigeria, Tanzania and Ethiopia.

"Social entrepreneurs use innovative approaches to extend access to healthcare, education, energy and housing to marginalized populations that may not otherwise be included in the traditional markets," said Schwab Foundation chairperson Hilde Schwab.

"They ensure that growth, such as that experienced in Africa, is and will be inclusive."

Health care for Africa's workers on the move

In the 1990s, Paul Matthew witnessed the alarming impacts of HIV/Aids on long-distance truck drivers and other mobile workers in southern Africa, and realized that they lacked access to basic health care.

In 2005, Matthew co-founded what was to become North Star Alliance, a public-private partnership that provides mobile workers and related communities with access to high-quality health and safety services through a network of interlinked clinics known as "roadside wellness centres".

"Since opening its first centre in Malawi in 2005, North Star has grown to 22 centres in 10 countries," the Schwab Foundation said in a statement on Wednesday.

Conservation integrated with social upliftment

The Wilderness Foundation, founded in 1972 by Ian Player, now directed by Andrew Muir, successfully integrates conservation programmes with social and educational programmes, and has trained thousands of young people in southern Africa to be community leaders and national park rangers.

In 2006, Muir founded the South African–based Umzi Wethu programme, which targets vulnerable youth "that show resilience and ambition, but despair of opportunities to support their households", and gives them the skills and training they need to become highly employable young adults.

The Schwab Foundation commented: "Under the stewardship of the Wilderness Foundation, over 200 000 hectares of African wilderness have been rehabilitated and expanded in the interests of conservation and environmental protection.

"More than 100 000 disadvantaged/vulnerable youth have benefited from the Wilderness Foundation through its social intervention and environmental education programmes."

Africa's other three Social Entrepreneurs of the Year are: Bethlehem Alemu, co-founder and managing director of soleRebels in Ethiopia; Sameer Hajee, chief executive officer of the Nuru Energy Group in Rwanda; and Seri Youlou and Thomas Granier, co-founders of the Association la Voute Nubienne in Burkina Faso.

SAinfo reporter