Tag Archives: world economic forum
world economic forum: Latest News
Peter Pedroncelli, 7:00 am AFKI Original
Last week Davos 2017 took place in Switzerland, with the annual week-long World Economic Forum meeting bringing together the world’s economic elite to discuss global issues and solutions to challenges that face the world at large. Africa plays a key part in these discussions, with politicians, business people and others with an interest in Africa’s economic future making their way to the gathering in order to contribute to various discussions. Here are 12 insightful quotes from African representatives who were present at Davos 2017.
Dana Sanchez, 4:17 pm
South Africa lost its spot as No. 1 economy in Africa to Nigeria in 2014, and its No. 2 spot to Egypt in 2016. So who has best shot next at bypassing the South African economy? These are 21 of the International Monetary Fund’s top performing economies in Africa based on gross domestic product. You’ll be surprised who’s absent from this list: Rwanda.
Lillian Mutiso, 6:22 am AFKI Original
The World Economic Forum (WEF) was founded in 1971 in Geneva, Switzerland, with emphasis on the European countries. It has expanded over the years to include other countries in the world. It aims to promote partnerships between the government and private sector for inclusive growth and sustainable development in Africa and globally. The 26th edition of the WEF on Africa ended on Thursday, May 13 2016, in Kigali, Rwanda. The Kigali event it attracted participants from across Africa and global leaders
Dana Sanchez, 2:20 pm
Many in the U.S. are tired of one-way trade preferences to Africa without reciprocal access for U.S. goods. “It’s time to start looking at what comes next,” said the U.S. Trade Representative at the World Economic Forum. Regional integration could play a role. “Part of what motivates us is that we are hearing from Africans that they want to move towards a more permanent, reciprocal kind of relationship.” South Africa risked losing its AGOA benefits over U.S. chicken, which finally hit SA shelves for the first time in 15 years.
Dana Sanchez, 10:53 am
Philanthropists have risk too, and losing Kagame is not a risk U.S. philanthropist Howard Buffet is prepared to take. A permanent resident of South Africa for more than 10 years, Buffett says he’s been to every country in Africa. Kagame brings certainty and stability to Rwanda — things that are very important to investors and aid agencies, Buffett said. Former British Prime Minister Tony Blair moderated the discussion at the World Economic Forum. There are no term limits for Britain’s prime ministers. Blair won an unprecedented third term for the Labour party.
Dana Sanchez, 9:54 am
Rwanda has earned a reputation as “Africa’s doer.” It’s the only country whose mountain gorilla population is growing, the country chosen for world’s first drone port, and it’s where 1,500 world business and political leaders are gathered for the 2016 World Economic Forum. For some, it will be their first time in the country. Rwanda plans to build relationships with the visitors and make the most of their presence.
Kurt Davis Jr., 12:19 pm AFKI Original
Kenya remains the “comeback kid” in Africa when challenges arise. Don’t be surprised if the country’s real GDP growth reaches beyond 6 percent. In an ironic twist, low oil prices will help Uganda and its big deficit. The political tension of the upcoming Feb. 18 general election and the months following will factor in how markets respond to Uganda’s currency. But come April, expect Uganda to be back on track for a strong end to 2016.
Dana Sanchez, 7:02 pm
South Africans are scrutinizing the list of government officials and organizations attending this week’s World Economic Forum meeting at the Swiss ski resort of Davos. It can cost between $20,000 and $50,000 per delegate to attend. Thousands of business, finance and government leaders will convene from around the world. Hot topics will be the price of oil, migrants and China’s slowdown, and they’ll all be selling something. We’ve got the list of everyone attending. Check it out here.
Dana Sanchez, 10:51 am
U.S.-based Dow Chemical said it plans to triple revenue from sub-Saharan Africa by 2020, growing off a low base. Africa accounts for less than 3% of sales at the company, which makes agricultural and petrochemicals. Dow is investing heavily in Africa. It launched a dedicated polyurethane manufacturing plant in September in Durban.
Staff, 5:58 pm
Just 12 percent of African countries’ total trade is with each other, but this week in Egypt, the Tripartite Free Trade Area will be signed creating an open market that spans half of Africa. It’s considered by some a “monumental step” toward African unity. Intra-African trade is expected to grow substantially in the free trade area and it sets the stage for an even more for-reaching trade agreement — the proposed continental free trade agreement.
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