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16th World Economic Forum on Africa

The 16th World Economic Forum on Africa: Going for Growth was a World Economic Forum economic summit held in Cape Town, South Africa, from May 31 to June 2, 2006. The summit is hosting 650 political and business leaders from 39 countries, focusing particularly on the surge of African commodity prices. It is also to examine issues relating to promoting investment, improving world opinion, hunger, sustainable development, and offer specific initiatives to address these and other economic issues facing part of or the entire continent.

Notable participants

Thabo Mbeki, President of South Africa and host; Armando Guebuza, President of Mozambique; Jakaya Kikwete, President of Tanzania; Syamal Gupta, Chairman of Tata International, India; Jim Goodnight, Chief Executive Officer, SAS Institute, United States; Maria Ramos, CEO of Transnet, South Africa; Charles Soludo, Governor of the Central Bank of Nigeria; and others.


In addition to examining the impact brought by the expanding Chinese and Indian economies on the rise of commodity prices in Africa, the summit targets several specific economic, developmental, and financial initiatives:

The African Investment Climate Facility

This new mixed public-private venture is intended as a mechanism to promote investment in the continent.

Changing Perceptions of Africa

This initiative is designed to address and improve on the generally negative perceptions suffered by the African continent.

Hunger Initiative

This proposed "Business Alliance to Reduce Chronic Hunger" would be a mixed private-public venture to address "the root problems of hunger."

Energy Poverty Action

This WEF taskforce is set to test a pilot model for developing grid and off-grid electrification for different parts of the continent.

Strengthening Healthcare Systems

This proposal is designed toward promoting a mixed private-public healthcare system in sub-Saharan Africa.

Partnering Against Corruption Initiative

The PACI is intended to curb corruption, by having businesses commit to a "zero tolerance" of corruption principles.

Water Initiative

This initiative is set to expand private participation in Southern African water resources and needs.

Social Entrepreneurs

The Schwab Foundation for Social Entrepreneurship is to announce the South African Social Entrepreneur of 2006.

See also

External links

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