Copyright, 2002, LTL Strategies - Tel: 202 362 6800 - USA Conference on the Financing of NEPAD Dakar, 15-17 April 2002
Purpose of the Conference African heads of state, business leaders and international institutions will present a comprehensive assessment of the needs at regional levels, and will announce concrete projects with budgets and timelines.
Participants The Conference will gather several hundred of the world’s most powerful business executives and private investors to discuss the role of the private sector for the concrete and immediate implementation of the New Partnership for Africa’s Development (NEPAD).
Objective To provide an opportunity for a select group of top business decision makers from around the world to gain a substantive understanding of the scale of the hundreds of regional projects generated by the NEPAD initiative to attract foreign private investment. Theme The role of the private sector in financing a historical development plan
The commitment Under the leadership of the five initiators of the NEPAD, presidents Thabo Mbeki (South Africa), Olusegun Obasanjo (Nigeria), Hosni Mubarak (Egypt), Abdelaziz Bouteflika (Algeria) and Abdoulaye Wade (Senegal), the African heads of state and government will confirm their commitment to structural free market reforms that will optimize the business climate for private investment in Africa.
Attracting Private Capital Efforts to develop Africa using international aid and loans have failed. With the NEPAD, Africa wants to attract foreign private capital. The key success factors of the NEPAD are: –Good governance –Free market regulations –Large regional market size
Strong International Support President George W. Bush, President Jacques Chirac,Prime Minister Jean Chrétien, and Prime Minister Tony Blair are strong advocates of the NEPAD. The international business community has expressed a fervent commitment to support this unique African initiative. Support G8, World Trade Organization, United Nations, World Bank, USA, UK, Canada, France, etc
The 10 NEPAD Priorities 1.Good public governance: Democracy embodies free and fair elections as well as democratic institutions, respect for human rights, rights of women and children, and transparency in public management. 2.Good corporate governance: This is critical in a free market oriented economy, in order to promote capital flows in countries with independent and fair judicial systems, and to protect foreign investors through transparency in management of private companies.
The 10 NEPAD Priorities (continued) 3.Infrastructure: Roads, railroads, ports and airports, and transportation are all elements of production costs that must be improved in order to bolster the capacity of African export commodities to compete abroad. 4.Education: Human resources are the most important growth factor. States with no natural resources can harness creativity, inventiveness, and productivity, by investing massively in education and training to spur economic growth.
The 10 NEPAD Priorities (continued) 5.Health: An important component for Africa's development, especially in view of the high mortality rate caused by endemic diseases like malaria, tuberculosis and AIDS. 6.New Information and Communication Technologies: Access must be made available to Africans during their childhood years, and must be expanded to all sectors, including agriculture, industry, transportation, education, trade, and other services.
The 10 NEPAD Priorities (continued) 7.Agriculture: Africa is far behind in agricultural innovation. Today the continent is dependent on food imports. This is unacceptable in view of the fact that the continent has immense lands and numerous rivers. 8. Environment: The fight against the degradation of the environment is an urgent priority; natural phenomena such as drought, desertification, coastal erosion, as well as man- made damage in areas around communities must be addressed.
The 10 NEPAD Priorities (continued) 9.Energy: An integral part of development, it seems that some African countries do not have workable natural energy. African countries plan to build pipelines to ensure their supply in energy. 10.Access to markets of developed countries: We hope that western markets will open up for competition with African products. The Africa Growth Opportunity Act (AGOA), which allows some eligible countries to benefit from its programme, is a good example of how this can be done.
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