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28th WEF on Africa to Focus on Inclusive Growth in the Fourth Industrial Revolution

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Sub-Saharan Africa’s future prosperity hinges on the ability of its leaders to create inclusive, sustainable growth at a time of rapid transformation in the Fourth Industrial Revolution. This will be the main message coming from the 28th World Economic Forum on Africa in Cape Town, South Africa 4-6 September.

The meeting will bring together 1,100 leaders from government, business and civil society, including ten heads of state or government. Top of the agenda will be new partnerships to create sustainable employment opportunities for Africa’s large and growing workforce.

The meeting will highlight: improving the funding and regulatory environments for start-ups; developing new partnerships for re-skilling and upskilling workers; identifying opportunities for green growth such as the circular economy; scaling-up e-commerce for rapid business growth, especially in the SME sector; and how to leverage the new Africa Continental Free Trade Agreement to drive regional integration.

Also high on the agenda are government policies and responsible business practices to provide a foundation for a more inclusive society. While globalization has driven economic growth, it is criticized for leading to unacceptable levels of income inequality. Tackling corruption, universal healthcare provision and protection of workers in the gig economy all have a role to play in building more equitable societies.

“The World Economic Forum brings top leaders together to create the conditions for socio-economic investment to happen. Africa, like all regions of the world, faces great challenges. For the region to prosper in an increasingly globalized world, it needs transparent governance, competitive economies and peaceful societies. This systemic change can only be achieved through multistakeholder collaboration,” said Elsie Kanza, Head of Africa at the Forum.

New initiatives that will be launched at this week’s meeting include:

  • The Africa Growth Platform, a coalition of governments and investors aiming to fast-track development of the region’s most promising start-ups and SMEs
  • The Africa Risk Resilience Platform, a scheme to help governments prepare for, mitigate and prevent climate- and disease-related disasters with the support of the private sector
  • Africa E-Commerce Agenda, a partnership between governments, the international trade community and the development community to create three million jobs by 2025

Heads of state or government participating in the meeting include: South Africa’s President Cyril Ramaphosa; Mokgweetsi Masisi, President of Botswana; Azali Assoumani, President of the Union of the Comoros; Mandulo Ambrose Dlamini, Prime Minister of Eswatini; Sahle-Work Zewde, President of Ethiopia, Peter Mutharika, President of Malawi, Hage Geingob, President of Namibia, Yemi Osinbajo, Vice-President of Nigeria, Yoweri Museveni, President of Uganda, Danny Faure, President of Seychelles, Emmerson Mnangagwa, President of Zimbabwe.

South African government leaders include: David D. Mabuza, Deputy President; Tito Mboweni, Minister of Finance; Jackson Mthembu, Minister in the Presidency; Khumbudzo Ntshavheni, Minister of Small Business Development; Patricia de Lille, Minister of Public Works and Infrastructure; Zwelini Lawrence Mkhize, Minister of Health; Bonginkosi Emmanuel Nzimande, Minister of Higher Education and Training; Ebrahim Patel, Minister of Trade and Industry; Pravin Gordhan, Minister of Public Enterprises; Fikile Mbalula, Minister of Transport; Stella Ndabeni-Abrahams, Minister of Communications, Telecommunications and Postal Services; Grace Naledi Mandisa Pandor, Minister of International Relations and Cooperation. Lindiwe Nonceba Sisulu, Minister of Human Settlements, Water and Sanitation of South Africa, Barbara Dallas Creecy, Minister of Environment, Forestry and Fisheries of South Africa.

Senior government leaders from other parts of Africa include: Cesar Augusto Mba Abogo, Minister of Finance, Economy and Planning of Equatorial Guinea; Mamadi Camara, Minister of Economy and Finance of Guinea; Safia Boly, Minister of Investment Promotion, Small and Medium Enterprises and National Entrepreneurship of Mali; Carl-Hermann Gustav Schlettwein, Minister of Finance of Namibia; Uzziel Ndagijimana, Minister of Finance and Economic Planning of Rwanda; Christopher Yaluma, Minister of Commerce, Trade and Industry of Zambia and; Mthuli Ncube, Minister of Finance and Economic Development of Zimbabwe.

Leaders from outside the region are: Mohcine Jazouli, Minister-Delegate for Foreign Affairs, African Cooperation of Morocco; Xu Jinghu, Special Representative of the Chinese Government on African Affairs, Ministry of Foreign Affairs of the People’s Republic of China; Mohamad Maliki Bin Osman, Senior Minister of State, Ministry of Defence and Ministry of Foreign Affairs of Singapore; Xiana Mendez, Secretary of State for Trade of Spain; Daniela Stoffel Delprete, State Secretary for International Finance of Switzerland; Graham Stuart, Parliamentary Under-Secretary of State and Minister for Investment, Department for International Trade (DIT), United Kingdom and; Cyrus Habib, Lieutenant Governor of Washington, USA.

Representatives from international organizations are: Amina Mohammed, Deputy Secretary-General, United Nations, New York; Ibrahim Assane Mayaki, Chief Executive Officer, AUDA-NEPAD Planning and Coordinating Agency, Johannesburg; Moussa Oumarou, Deputy Director-General for Field Operations and Partnerships, International Labour Organization (ILO), Geneva; Mukhisa Kituyi, Secretary-General, United Nations Conference on Trade and Development (UNCTAD), Geneva; Susanna Moorehead, Chair, Development Assistance Committee, Organisation for Economic Co-operation and Development (OECD), Paris; Valerie Guarnieri, Assistant Executive Director, Operations Services, United Nations World Food Programme (WFP), Rome; Vera Songwe, Executive Secretary, United Nations Economic Commission for Africa (UNECA), Addis Ababa; Vijay Iyer, Vice-President and Chief Operating Officer, Multilateral Investment Guarantee Agency (MIGA), Washington DC; and Yonov Frederick Agah, Deputy Director-General, World Trade Organization (WTO), Geneva.

The Co-Chairs of the 2019 World Economic Forum on Africa are: Ellen Agler, Chief Executive Officer, The END Fund, USA; Jeremy Farrar, Director, Wellcome Trust, United Kingdom; Arancha Gonzalez Laya, Executive Director, International Trade Centre (ITC), Geneva; André Hoffmann, Vice-Chairman, Roche, Switzerland; Alex Liu, Managing Partner and Chairman, A. T. Kearney, USA; Jim Ovia, Chairman, Zenith Bank, Nigeria, Sipho M. Pityana, Chairman, AngloGold Ashanti, South Africa.

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EU Politics

EU Interreg programme celebrates 30 years of bringing citizens closer together

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The year 2020 marks 30 years since the start of Interreg, the EU’s emblematic programme that aims at encouraging territorial cooperation between border regions. In light of this celebratory year, Commissioner for Cohesion and Reforms, Elisa Ferreira,issued the following statement:

Interreg is a programme that is very dear to my heart. As a unique instrument of cooperation, supported by cohesion funding, Interreg allows regions and countries to work together to solve common challenges. Interreg projects are concrete examples that borders do not have to be barriers, but can be an opportunity for growth and successful cooperation. Over the past 30 years, and thanks to numerous projects supported by the EU, Interreg has brought the more than 170 million Europeans living in border regions closer together, improved their lives, and created new opportunities for cooperation.

The 30 year celebration of Interreg happens in a crucial time of the EU’s history. As we face serious global and local challenges, we need to regain citizens’ trust and ensure we deliver. Interreg has been acting now for 30 years to leave no one behind and to build Europe brick-by-brick. The intention is to continue this mission but also to use this celebrative occasion to question, to re-think, and to give a new breath to what we consider as a fundamental value in the European Union: the spirit of cooperation, driven by the firm belief that we are stronger together.”

Background

Launched in 1990, the European Territorial Cooperation (ETC), better known as Interreg, is an emblematic Cohesion Policy programme that provides a framework for the implementation of joint actions and policy exchanges between national, regional and local actors from different Member States. The overarching objective of European Territorial Cooperation (ETC) is to promote a harmonious economic, social and territorial development of the Union as a whole. Interreg is built around three strands of cooperation: cross-border (Interreg A), transnational (Interreg B) and interregional (Interreg C).

Five programming periods of Interreg have succeeded each other: INTERREG I (1990-1993) – INTERREG II (1994-1999) – INTERREG III (2000-2006) – INTERREG IV (2007-2013) – INTERREG V (2014-2020).

The Interreg cooperation programmes cover the entire European continent with a total budget of over €12 billion, including EU and Member States’ contribution, during the 2014 – 2020 programming period.

The Interreg 30 year campaign will roll out throughout 2020 under the themes: neighbours, green and youth. The campaign will take stock of the past achievements and look forward to what can be done more and better in the future.

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WWF: US Will Suffer World’s Biggest Economic Impact Due to Nature Loss

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A new World Wildlife Fund report reveals for the first time the countries whose economies would be worst affected over the next 30 years if the world doesn’t act urgently to address the global environmental crisis.

The study, Global Futures, which calculated the economic cost of nature’s decline across 140 countries ranging from India to Brazil, shows that if the world carries on with “business as usual,” the United States would see the largest losses of annual GDP in absolute terms, with $83 billion wiped off its economy each year by 2050 – an amount equivalent to the entire annual GDP of Guatemala.

“This groundbreaking report shows that the U.S. will suffer the world’s biggest economic impact due to nature loss,” said Rebecca Shaw, chief scientist, World Wildlife Fund. “We cannot envision a just and stable country, and a prosperous economy, if forests disappear, pollinators vanish, biodiversity collapses and rivers and the ocean are depleted. Continuing with business as usual could lead to disastrous outcomes. We need governments and corporations to halt nature loss and tackle this planetary emergency.”

The Global Futures study used new economic and environmental modeling to assess what the macroeconomic impact would be if the world pursued “business as usual,” including widespread and land-use change, continued increase in emissions of greenhouse gases, and further loss of natural habitats. It found this status quo approach would cost the world at least $479 billion a year, adding up to $9.87 trillion by 2050 – roughly equivalent to the combined economies of the UK, France, India and Brazil.

In contrast, under a scenario in which land-use is carefully managed to avoid further loss of areas important for biodiversity and ecosystem services, which the study terms the ‘Global Conservation’ scenario, economic outcomes would be dramatically better, with global GDP rising by $490 billion per year above the business as usual calculation.

Japan and the UK also stand to lose staggering amounts – $80 billion and $21 billion every year respectively. The projected economic losses in the United States, Japan and UK are due largely to expected damage to their coastal infrastructure and agricultural land through increased flooding and erosion as a result of losses of natural coastal defenses such as coral reefs and mangroves.

Developing countries will also be badly affected, with Eastern and Western Africa, central Asia and parts of South America hit particularly hard, as nature loss impacts on production levels, trade and food prices. According to the report, the top three countries predicted to lose the most as a percentage of their GDP are Madagascar , Togo and Vietnam , which by 2050 are expected to respectively see declines of 4.2 percent, 3.4 percent and 2.8 percent per year.

“It’s difficult for many people to conceptualize the true value of nature and the many benefits it provides to humanity,” says Shaw. “This report translates nature loss into country-specific economic terms – a tangible and powerful way to galvanize action from private sector leaders and government officials.”

This pioneering method of analysis was created through a partnership between WWF , the Global Trade Analysis Project at Purdue University, and the Natural Capital Project, co-founded by the University of Minnesota.

Steve Polasky, Co-Founder of the Natural Capital Project, said: “The world’s economies, businesses and our own well-being all depend on nature. But from climate change, extreme weather and flooding to water shortages, soil erosion and species extinctions, evidence shows that our planet is changing faster than at any other time in history. The way we feed, fuel and finance ourselves is destroying the life-support systems on which we depend, risking global economic devastation.”

Thomas Hertel, Executive Director of the Global Trade and Analysis Project, said: “The science and economics are clear. We can no longer ignore the strong economic case for restoring nature. Inaction will cost us far more than actions aimed at protecting nature’s contributions to the economy. To ensure positive global futures, we need to achieve more sustainable patterns of production and land use, and reform economic and financial systems to incentivize nature-based decision making.”

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Justin Trudeau meets African leaders to advance conflict resolution and economic security

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Canada’s Prime Minister Justin Trudeau convened a meeting for African heads of state, foreign ministers and representatives of the United Nations and other multilateral bodies on Monday to discuss ways to secure peace across the continent as a necessary condition for prosperity.  

Trudeau, the 2020 chair of the United Nations Peacebuilding Commission, called for cooperation among international partners and governments to create economic opportunity and prosperity that is broadly shared, “…as a way not just of countering the pull of extremism in some places or the cynicism of populism, but as a way of building a real and tangible future for countries around the world.”

The breakfast meeting, which was held on the sidelines of the 33rd African Union Summit in Addis Ababa, was intended to strengthen the Commission’s partnership with the African Union (AU) and to better integrate African priorities in conflict prevention and bolstering economic security. Among issues discussed were the role that international financial institutions and youth job creation can play in Africa in averting extremism and conflict; and the AU leadership in peacekeeping and peacebuilding efforts.    

The talks, titled Sustaining Peace and Economic Security, aligned with the Summit’s theme: Silencing the Guns: Creating Conducive Conditions for Africa’s Development.   

Trudeau acknowledged that one of the biggest challenges both developed and developing countries face is the perception that governments are indifferent.

“In this time of change, in this time of transformation of the global economy, time of conflict, time of climate conflict, people worry that the system has no place for them and isn’t providing them with what they need,” the Canadian Prime Minister said. 

Among participants were President Roch Marc Christian Kabore of Burkina Faso; the Vice President of Gambia, Isatou Touray; President of the United Nations General Assembly, Tijjani Muhammad-Bande, Vera Songwe, Executive Secretary of the United Nations Economic Commission for Africa, and the foreign ministers of Sierra Leone and Rwanda.

President Kabore offered his reflections on the issues. Burkina Faso is one of several nations in the Sahel region that have seen economic growth adversely affected by conflict and instability.    

In opening remarks, African Development Bank President Akinwumi Adesina noted the shifting nature of conflicts across Africa. While the number of outright wars in Africa has declined substantially, they have been replaced with greater fluidity with rising cases of terrorism, extremism, conflicts from non-state actors.

The root causes of conflict, according to Adesina, include “rising inequalities, lack of political inclusiveness, extreme poverty, management and control over natural resources, youth unemployment that causes social unrest, climate change, to name a few.”

The Bank is at the forefront of helping to address fragility in Africa with several initiatives currently under way. So far, $3.8 billion has been allocated to address issues of fragility through the Transition State Support Facility.  

Adesina recognized the role Canada plays in enabling the Bank’s work.

“The successful replenishment of the Bank’s African Development Fund 15 – to which Canada contributed substantially with $355 million – will allow the Bank to deploy an additional $1.2 billion to address fragility, strengthen resilience and sustain peace and economic security,” he said.

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