News / Africa

Experts Cautiously Optimistic about Africa Economy

Kelly J. Kelly
“Trade, not aid” was the theme for panelists discussing Africa’s growing economy at the Congressional Black Caucus’ Brain Trust meeting in Washington, DC recently.

Although speakers were mostly positive about what’s happening on the continent – including Botswana’s seven percent growth rate – Jay Ireland, the President and CEO for the Africa division of the multi-national giant General Electric (GE), introduced a note of caution into the discussion.

“Africa is rising. What I worry about is Africa getting choked,” Ireland said.

Ireland - who’s based in Nairobi, Kenya - said one of the biggest things Africa needs right now to maintain its economic momentum is basic education. 
 
“We, the private sector, can take graduates from universities, or high schools, and train them into being technicians, engineers, leaders,” Ireland said. “But we can’t do that if we can’t get a good base of education provided to us by the governments themselves.”
Ireland added that ongoing financial investments are also critical.

But some in the audience questioned where those investments should come from. Akira Chiba, a Japanese diplomat who used to represent his government in South Sudan said, “When I was in South Sudan, I noticed a tremendous presence of Chinese nationals there—together, sadly, with a certain amount of unfriendliness toward them, to use a diplomatic terminology. So my question is what role do you expect China to play for further development of Africa?”

The World Bank’s Vice President for Africa, Makhtar Diop, was quick to answer.
“The needs are huge in Africa, and we cannot have the luxury as Africans to be picky about who should be coming and investing in Africa, be it the private sector, be it the World Bank, be it the IFC, be it China, be it the EU, be it the US. We need everybody to come and invest in Africa,” Diop said.

The day ended as it had begun, on a positive note. Africa was not only rising, panelists agreed, but finally getting the world’s attention as a place to come, do business, and make money.


Listen to report on CBC Brain Trust Meeting on Africa's Economy
Listen to report on CBC Brain Trust Meeting on Africa's Economyi
|| 0:00:00
...    
🔇
X

You May Like

UN Fears Rights Violations in China-backed Projects

UNHCHR investigates link between financing development and ignoring safeguards for human rights More

Boko Haram Violence Tests Nigerians’ Faith in Buhari

New president has promised to stem insurgency; he’s scheduled to meet with President Obama at White House July 20 More

Social Media Network Wants Privacy in User’s Hands

Encryption's popularity in messaging is exploding; now it's the foundation of a new social network More

This forum has been closed.
Comment Sorting
Comments
     
by: The Big Picture
September 27, 2012 10:16 PM
Somehow the Zimbabwean situation is discreetly avoided and not commented upon, given all that has happened there. Doing business and making money is what it really is, but "The Fear is a Reality".

Featured Videos

Your JavaScript is turned off or you have an old version of Adobe's Flash Player. Get the latest Flash player.
Making Music, Fleeing Bombs: New Film on Sudan’s Internal Refugeesi
X
Carolyn Weaver
July 06, 2015 6:47 PM
In 2012, Sudanese filmmaker Hajooj Kuka went to make a documentary among civil war refugees in Sudan’s Blue Nile and Nuba Mountains region. What he found surprised him: music was helping to save people from bombing raids by their own government. VOA’s Carolyn Weaver has more.
Video

Video Making Music, Fleeing Bombs: New Film on Sudan’s Internal Refugees

In 2012, Sudanese filmmaker Hajooj Kuka went to make a documentary among civil war refugees in Sudan’s Blue Nile and Nuba Mountains region. What he found surprised him: music was helping to save people from bombing raids by their own government. VOA’s Carolyn Weaver has more.
Video

Video Rice Farmers Frustrated As Drought Grips Thailand

A severe drought in Thailand is limiting the growing season of the country’s important rice crop. Farmers are blaming the government for not doing more to protect a key export. Steve Sandford reports from Chiang Mai, Thailand.
Video

Video 'From This Day Forward' Reveals Difficult Journey of Transgender Parent

In her documentary, "From This Day Forward", filmmaker Sharon Shattuck reveals the personal journey of her transgender father, as he told his family that he always felt he was a woman inside and decided to live as one. VOA’s Penelope Poulou has more.
Video

Video Floodwaters Threaten Iconic American Home

The Farnsworth House in the Midwest State of Illinois is one of the most iconic homes in America. Thousands of tourists visit the site every year. Its location near a river inspired the design of the house, but, as VOA’s Kane Farabaugh reports, that very location is now threatening the existence of this National Historic Landmark.
Video

Video Olympics Construction Scars Sacred Korean Mountain

Environmentalists in South Korea are protesting a Winter Olympics construction project to build a ski slope through a 500-year-old protected forest. Brian Padden reports that although there is strong national support for hosting the 2018 Pyeongchang Winter Olympics, there are growing public concerns over the costs and possible ecological damage at the revered mountain.
Video

Video Xenophobia Victims in South Africa Flee Violence, Then Return

Many Malawians fled South Africa early this year after xenophobic attacks on African immigrants. But many quickly found life was no better at home and have returned to South Africa – often illegally and without jobs, and facing the tough task of having to start over. Lameck Masina and Anita Powell file from Johannesburg.
Video

Video Family of American Marine Calls for Release From Iranian Prison

As the crowd of journalists covering the Iran talks swells, so too do the opportunities for media coverage.  Hoping to catch the attention of high-level diplomats, the family of American-Iranian marine Amir Hekmati is in Vienna, pleading for his release from an Iranian prison after nearly 4 years.  VOA’s Heather Murdock reports from Vienna.
Video

Video UK Holds Terror Drill as MPs Mull Tunisia Response

After pledging a tough response to last Friday’s terror attack in Tunisia, which came just days before the 10th anniversary of the bomb attacks on London’s transport network, British security services are shifting their focus to overseas counter-terror operations. VOA's Henry Ridgwell has more.
Video

Video Obama on Cuba: This is What Change Looks Like

President Barack Obama says the United States will soon reopen its embassy in Cuba for the first time since 1961, ending a half-century of isolation. VOA White House correspondent Luis Ramirez reports.
Video

Video Hate Groups Spread Influence Via Internet

Hate groups of various kinds are using the Internet for propaganda and recruitment, and a Jewish human rights organization that monitors these groups, the Simon Wiesenthal Center, says their influence is growing. The messages are different, but the calls to hatred or violence are similar. VOA's Mike O’Sullivan reports.
Video

Video Blind Somali Journalist Defies Odds in Mogadishu

Despite improving security in the last few years, Somalia remains one of the most dangerous countries to be a journalist – even more so for someone who cannot see. Abdulaziz Billow has the story of journalist Abdifatah Hassan Kalgacal, who has been reporting from the Somali capital for the last decade despite being blind.
Video

Video Rabbi Hits Road to Heal Jewish-Muslim Relations in France

France is on high alert after last week's terrorist attack near the city Lyon, just six months after deadly Paris shootings. The attack have added new tensions to relations between French Jews and Muslims. France’s Jewish and Muslim communities also share a common heritage, though, and as far as one French rabbi is concerned, they are destined to be friends. From the Paris suburb of La Courneuve, Lisa Bryant reports about Rabbi Michel Serfaty and his friendship bus.

VOA Blogs