Johannesburg - South Africa’s hosting of the 23rd World Economic Forum (WEF) on Africa next week will give the country an opportunity to showcase itself as an investment destination, Deputy Finance Minister Nhlanhla Nene said on Friday.
“It presents us with an opportunity to showcase the country as a strategic development partner in the region and a strategic entry point for investors interested in investing in the region,” said the deputy minister.
Briefing reporters ahead of the three-day conference, to be held in Cape Town from 8 - 10 May, Nene said the conference was taking place hot on the heels of South Africa hosting the fifth Brics summit in Durban.
Nene said though South Africa was not among the six fastest growing economies on the continent, it was in support of regional integration.
WEF-Africa is a regionally focused economic forum that provides an opportunity for local and regional businesses and investors interested in the region to exchange and even explore possible partnerships with governments.
At the forum, South Africa will promote the National Development Plan (NDP). The plan identifies six pillars that underpin efforts to eliminate poverty and reduce inequality, including raising economic growth, promoting exports and making the economy more labour absorbing.
The theme for next week’s meeting is ‘Delivering on Africa’s promise’, which is built on three pillars, namely accelerating economic diversification, boosting strategic infrastructure and unlocking Africa’s talent.
Next week’s meeting will include 14 heads of government including the Presidents of Benin, Nigeria and Malawi, as well as former UN Secretary General Kofi Annan.
The South African government delegation to the forum will comprise President Jacob Zuma and nine ministers namely: Finance Minister Pravin Gordhan, Minister in Presidency (Planning Commission) Trevor Manuel; Minister of Trade and Industry Rob Davies; Minister of Mineral Resources Susan Shabangu; Minister of Energy Dipuo Peters; Minister of Water and Environmental Affairs Edna Molewa; Minister of Communications Dina Pule; Minister of International Relations and Cooperation Maite Nkoana-Mashabane and Minister of Public Enterprises Malusi Gigaba.
The forum will be attended by 1 000 leaders from business, government , civil society and academia.
Elsie Kanza, Director, Head of Africa: WEF, said the continent presented a multitude of opportunities.
“There’s opportunity for income, employment and growth,” she said, adding that although there was progress on the continent, it needed to happen at a faster pace.
Kanza said the WEF regarded South Africa as a friend, and there has been huge interest in the conference.
The Africa Competitiveness Report, which is produced jointly with the World Bank and the African Development Bank, will also be released at the conference.
In 2009, South Africa hosted the 19th WEF, which attracted over 800 participants from 50 countries. - SAnews.gov.za
