Davos 2019 - Africa's Leadership in the New Global Context

TL;DR

African leaders discuss the benefits of regional integration and the opportunities provided by the digital economy for job creation and economic growth.

Transcript

good afternoon and may I invite those who are joining our session take your seats you are for a great 45 minutes right my name is Kristalina Georgieva and the acting president of the World Bank and I have the incredible privilege to moderate a conversation with two leaders who make their countries and their continent proud president Paul Kagame pre... Read More

Key Insights

• ™️ Regional integration and trade among African countries have the potential to boost economic growth and create employment opportunities.
• 👻 The African Continental Free Trade Agreement allows for complementary trade and expands market access for both small and large businesses.
• 🌍 Digital connectivity and the digital economy present significant opportunities for economic development and job creation in Africa.
• 🍉 Investing in human capital, particularly in skills development, is crucial for long-term job creation and economic growth in Africa.
• 🌍 Collaboration between governments, businesses, and international organizations is necessary to accelerate regional integration and digital transformation in Africa.

Questions & Answers

Q: How does the African Continental Free Trade Area agreement provide opportunities for growth in Africa?

The agreement promotes regional integration and trade among African countries, leading to increased exports, job creation, and economic growth. It allows for complementary trade and makes the continent more competitive globally.

Q: What can the private sector do to make the African Continental Free Trade Area agreement successful?

The private sector can take advantage of the expanded market size and trade opportunities in Africa. They can invest in manufacturing and contribute to industrialization, creating more jobs and boosting economic growth. Small and medium-sized enterprises can benefit from easier access to trade within the continent.

Q: How can Africa accelerate the digital connectivity process and ensure that all citizens are connected to the internet by 2030?

It requires a change in mentality, political will, and mobilization of investments in digital infrastructure and education. Governments need to align their policies with digital transformation and invest in building the necessary digital skills. Collaboration with international organizations such as the World Bank is crucial in accelerating this process.

Q: How can Africa ensure that investments in human capital lead to job creation?

Governments need to prioritize lifelong skills development and ensure continuous learning from early childhood education through to adulthood. The focus should be on providing relevant skills for the 21st century, such as digital skills. Collaboration between governments, businesses, and labor organizations is essential to address the challenges of job creation and skill development.

Summary & Key Takeaways

• President Kagame and President Ramaphosa highlight the similarities and ambitions of African countries in terms of e-commerce, sports, and nature tourism.

• The African Continental Free Trade Area agreement is praised for its potential to increase regional trade and create employment opportunities.

• The leaders emphasize the importance of investing in digital infrastructure and skills development to take advantage of the digital economy.