Africa Economic Summit 2005
31 May 2005
The World Economic Forum's Africa Economic Summit 2005 takes place in Cape Town this week, with the leaders of three major multinational corporations calling on businesses to ensure that the continent's development "tipping point" is not missed.
The fifteenth Africa Economic Summit will focus on the recent Commission for Africa report and its recommendations for far-reaching interventions by the G8, African states and businesses to amplify the positive developments already under way in much of Africa.
The three co-chairs of the meeting, Niall FitzGerald (Reuters), Graham Mackay (SABMiller) and Lazarus Zim (Anglo American) recently made a "call to arms" in a letter sent to participants to the Summit.
They called for "a strong signal to the G8 Summit in July supporting African aspirations and the Commission for Africa recommendations".
In the letter the three co-chairs also state: "Clearly, business has a strong interest in the flow of
targeted aid and investment on the scale proposed, as well as a shared responsibility to help build African capacity to use this funding effectively and transparently.
"We call on you as leaders of Africa's top companies and multinationals active in Africa to join us in Cape Town and engage, as active partners, in ensuring that this unprecedented 'tipping point' is not missed."
Over 660 delegates from 42 countries - 28 of them African countries - are expected to gather in Cape Town for the three-day meeting from 1 to 3 June. Five heads of state, including President Thabo Mbeki, will be in attendance.
Speaking ahead of the meeting, Haiko Alfeld, Director for Africa at the World Economic Forum, said that 2005 presented "an unparalleled opportunity, as the G-8 and the Commission for Africa have focused the world's attention squarely on mobilising the necessary partnerships and resources for Africa.
"I believe that the Africa Economic Summit 2005 here in Cape
Town is the place to mobilise that action," Alfeld said
SouthAfrica.info reporter
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