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<p>CNBC Africa’s Bronwyn Nielsen sat down with Akinwumi Adesina, President of the African Development Bank at the on-going World Economic Forum meeting in Davos, Switzerland to make the case for investment on the continent.</p>


Africa needs to look inside to close its infrastructure gap – AfDB’s Adesina

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<p>CNBC Africa’s Bronwyn Nielsen sat down with Akinwumi Adesina, President of the African Development Bank at the on-going World Economic Forum meeting in Davos, Switzerland to make the case for investment on the continent.</p>


This is why Africa should be where the focus is – AfDB’s Adesina

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<p>The World Economic Forum highlights prioritizing infrastructure, embedding ICT across sectors and foreign involvement as key points to unlocking Africa’s potential through technological innovation. Dhruv Pandit, CEO of FEDHA Group joins CNBC Africa.</p>


FEDHA Group CEO on unlocking Africa’s tech potential

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<p>As the World Economic Forum 2018 kicks off today, Adewale Tinubu, CEO of Oando joins CNBC Africa from Davos to discuss the shareholder dispute issue and an outlook for Oando this year.</p>


We have resolved dispute with major shareholder – Oando CEO

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<p>The theme for this year&#8217;s World Economic Forum is ‘creating a shared future in a fractured world’. Benedikt Sobotka, CEO of Eurasian Resources Group joins CNBC Africa’s Chris Bishop for his expectations for this year&#8217;s meeting.</p>


Africa is still under-represented at WEF – Eurasian Resources Group CEO

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<p>Since the 2008 financial crisis, the world has continued to binge on gross inequality and now the patient is on a life support-system. This was the view of General Secretary, UNI Global Union, Philip Jennings, who spoke to CNBC Africa’s Chris Bishop.</p>


Strong unions are good for business – UNI Global Union

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<p>CNBC Africa&#8217;s Head of Programming Chris Bishop speaks to Tonye Cole, Executive Director and Co-founder of Sahara Group, about a fractured world and how Africa is looking inward to see how it can develop.</p>


Sahara Group’s Tonye Cole on why Africa is a good place to invest

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<p>Old Mutual Emerging Markets CEO Peter Moyo says the appointment of a new Eskom board will boost investor confidence in South Africa. He joins CNBC Africa’s Chris Bishop at the World Economic Forum in Davos for more.</p>


Old Mutual Emerging Markets’ Peter Moyo optimistic about new Eskom board

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<p>CNBC Africa spoke to Svein Tore Holsether, CEO, Yara International about the potential of the food business in Africa.</p>


Africa could be the breadbasket of the world, here’s how

<p>(DAVOS) It appears International Monetary Fund head Christine Lagarde and South African president elect Cyril Ramaphosa have more in common than merely both being lawyers turned politicians &#8211; they both want to crack down on corruption and tax evasion.</p>
<p>On the first day of the World Economic Forum gathering in driving snow of the ski-resort in Switzerland Lagarde also showed she shared Ramaphosa&#8217;s penchant for the homespun turn of phrase as she launched a brighter than expected IMF Global Report on a worse than expected grey-sky day of heavy snow in Davos. It predicts global growth of 3.9% this year and next; growth of 0.2% higher than it expected thanks to tax cuts in the United States and improved performance from emerging economies like Russia and Brazil.</p>
<p><a href="http://cnbc.africa/category/insights/world-economic-forum/">FOR MORE STORIES ON WEF DAVOS CLICK HERE</a></p>
<p>&#8220;When the sun is shining it is time to fix the roof,&#8221; Lagarde told journalists at the first press briefing of Davos 2018 on Monday.</p>
<p>&#8220;Or when the snow stops it is time to clear the roads. That is how it seems to work here in Davos.&#8221;</p>
<p>Lagarde said the IMF was encouraged by the growth forecasts it was still worried about low interest rates hitting the viability of the financial sector and the increase in debt around the world.</p>
<p>&#8220;We will also be tackling corruption and tax evasion to come up with long lasting solutions,&#8221; Lagarde said.</p>
<p>Lagarde said economies should guard against complacency and provide training for women, the young and older workers whose jobs have been taken over by technology.</p>
<p>&nbsp;</p>


IMF’s Christine Lagarde and South African president-elect Cyril Ramaphosa have more in common than you think

<p>(DAVOS) This year, as ever, the well-meaning chatter about prosperity for all will flutter down as thickly as the snowflakes that are steadily burying the buildings that house the World Economic Forum (WEF) in Davos, Switzerland.</p>
<p>Delegates will pay up to $60,000 just to be here and thousands more on flights and expensive accommodation, not to mention expensive food, in this ski-resort.</p>
<p><a href="http://cnbc.africa/category/insights/world-economic-forum/">FOR MORE STORIES ON WEF DAVOS CLICK HERE</a></p>
<p>WEF has been going on year-in, year-out since 1971 in this snowy corner of the Alps &#8211; at more than 5,000 feet above sea level one of the highest spots in Europe and one of the coldest places on earth &#8211; but only now is the embarrassment about the world&#8217;s growing army poor and dispossessed starting to bite.</p>
<p>Arguably the anger and despair of the world&#8217;s poor majority is a major factor behind the populism, extremism, lack of trust in leadership and disillusionment with capitalism that has led to this economic think-tank to theme this year&#8217;s gathering : &#8220;A shared future in a fractured world&#8221; a paradox if ever there was one.</p>
<p>Oxfam has been banging on about the inequalities of the world for decades. This year it released damning evidence ahead of Davos claiming a mere 42 people &#8211; enough to fill one bus &#8211; own more than 3.7 billion of the poorest people; compared with 61 last year and 380 in 2009.</p>
<p>Other highlights from its &#8216;Reward Work, Not Wealth’ report include:</p>
<ul>
<li>Billionaire wealth has risen by an annual average of 13 percent since 2010 – six times faster than the wages of ordinary workers, which have risen by a yearly average of just 2 percent. The number of billionaires rose at an unprecedented rate of one every two days between March 2016 and March 2017.</li>
<li>It takes just four days for a CEO from one of the top five global fashion brands to earn what a Bangladeshi garment worker will earn in her lifetime. In the US, it takes slightly over one working day for a CEO to earn what an ordinary worker makes in a year.</li>
<li>It would cost $2.2 billion a year to increase the wages of all 2.5 million Vietnamese garment workers to a living wage. This is about a third of the amount paid out to wealthy shareholders by the top 5 companies in the garment sector in 2016.</li>
</ul>
<p>Winnie Byanyima, Executive Director of Oxfam International reckons: “The billionaire boom is not a sign of a thriving economy but a symptom of a failing economic system. The people who make our clothes, assemble our phones and grow our food are being exploited to ensure a steady supply of cheap goods, and swell the profits of corporations and billionaire investors.”</p>
<p>IMF head Christine Lagarde put her two pennyworth in when she announced much better than expected growth forecasts on the first day of the gathering on Monday.</p>
<p>&#8220;In one fifth of the world&#8217;s emerging economies &#8211; that is countries like Brazil Russia and South Africa &#8211; per capita income fell at a time when the rest of the world was growing.</p>
<p>Maybe Davos needs to up the action rather than more words if it is to avoid more of that most dangerous kind of person &#8211; man with nothing to lose.</p>
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The rich are getting rich, this is by how much…

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<p>CNBC Africa&#8217;s Aviwe Mtila recently spoke to Raghu Malhotra, President, Middle East Africa for Mastercard at the Deloitte Africa about the Economic Outlook for 2018.</p>


Inclusive growth is a $7trn opportunity for business – Deloitte Africa

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<p>Bitcoin returns as one of the focal points of conversation at the World Economic Forum in Davos. According to the Global Blockchain Business Council, a baseline to evaluate future policy actions and a framework to assess progress is necessary.</p>


Davos’ elites to talk cryptocurrencies

<p>You have to hand it to the South African delegation that will head to the freezing slopes of the Alps in Davos, Switzerland, this week for the World Economic Forum. Their optimism in the face of a difficult task as steep as a Davos ski slope, verges on bravery.<br />
Even the theme of this year’s WEF “A shared future in a fractured world” sounds more like a conundrum than a rallying call. Africa, where South Africa shares the bugbear of low growth with a score of fellow nations, will have to labour to impose itself on the agenda at Davos 2018.</p>
<p>To make matters worse, Europe is more concerned about the fall-out from Brexit, income inequality, the crumbling of public services, fading leadership and the rise of extremism plus the question of refugees from Africa fleeing poverty and hunger. Television reports say African refugees are even limbing the Alps, not too far from Davos, in their desperation to escape penury.</p>
<p>Investors at WEF are likely to be sceptical about the meagre growth of a South Africa that just over a decade ago was cooking along at 5%. It is worth pointing out that many economists agree that 5% is merely enough to absorb the annual flood of school leavers and graduates onto the job market.</p>
<p>At the very least South Africa’s president elect Cyril Ramaphosa, who will lead his country’s delegation to Davos, has made bold promises aimed at putting the country’s house in order before taking the plane to Switzerland.  He has taken a big stick to corruption and the sloppy state owned enterprises – from Eskom to Denel – who cost state coffers millions every year. </p>
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<p>Ramaphosa , as a statesman  waiting, is trying to put down his marker as a future leader of the country and at a pre-Davos breakfast in a Johannesburg hotel pledged to bring more and more people to justice – a process that has begun in recent days with the launch of investigations and the freezing of assets. It’s a move that would cheer up the taxpayer as much as foreign investors, who fear corruption for its uncertainty and power to inflate the costs of running a business.<br />
“The NPA (National Prosecuting Authority) is beginning to move. We want it to increase the tempo. The freezing is good but we need to see much more,” says Ramaphosa.</p>
<p>Fine words, but until there are high-profile convictions and billions returned to state coffers, these words are not going to cut much ice among investors. It could be a cold Davos for the South African delegation, but with one of the continent’s most robust economies at stake you would be very hard hearted indeed not to wish them the best of luck. </p>


Will Africa cut much ice in Davos this year?

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<p>Next week CEOs and policymakers will convene at the 48th World Economic Forum Annual Meeting in Davos Switzerland. On the agenda will be accelerating inclusive growth and sustainable development.</p>


How Africa can leverage technology for inclusive growth

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<p>Ahead of the World Economic Forum in Davos, Michaella Rugwizangoga, Global Shaper for the Kigali chapter and voice of the youth at the World Economic Forum joins CNBC Africa to discuss the need for a younger generation engagement in policy making.</p>


Africa must involve youth in policy making – WEF Global Shaper

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<p>South Africa has found itself under the dark cloud of political uncertainty and a sluggish economy which has resulted in a decline in business and investor confidence.</p>


Davos

Africa needs to look inside to close its infrastructure gap – AfDB’s Adesina

This is why Africa should be where the focus is – AfDB’s Adesina

FEDHA Group CEO on unlocking Africa’s tech potential

We have resolved dispute with major shareholder – Oando CEO

Africa is still under-represented at WEF – Eurasian Resources Group CEO

Strong unions are good for business – UNI Global Union

Sahara Group’s Tonye Cole on why Africa is a good place to invest

Old Mutual Emerging Markets’ Peter Moyo optimistic about new Eskom board

Africa could be the breadbasket of the world, here’s how

IMF’s Christine Lagarde and South African president-elect Cyril Ramaphosa have more in common than you think

The rich are getting rich, this is by how much…

Inclusive growth is a $7trn opportunity for business – Deloitte Africa

Davos’ elites to talk cryptocurrencies

Will Africa cut much ice in Davos this year?

How Africa can leverage technology for inclusive growth

Africa must involve youth in policy making – WEF Global Shaper

How SA plans to reposition itself as an attractive investment destination

News Tips

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Davos

Africa needs to look inside to close its infrastructure gap – AfDB’s Adesina

This is why Africa should be where the focus is – AfDB’s Adesina

FEDHA Group CEO on unlocking Africa’s tech potential

We have resolved dispute with major shareholder – Oando CEO

Africa is still under-represented at WEF – Eurasian Resources Group CEO

Strong unions are good for business – UNI Global Union

Sahara Group’s Tonye Cole on why Africa is a good place to invest

Old Mutual Emerging Markets’ Peter Moyo optimistic about new Eskom board

Africa could be the breadbasket of the world, here’s how

IMF’s Christine Lagarde and South African president-elect Cyril Ramaphosa have more in common than you think

The rich are getting rich, this is by how much…

Inclusive growth is a $7trn opportunity for business – Deloitte Africa

Davos’ elites to talk cryptocurrencies

Will Africa cut much ice in Davos this year?

How Africa can leverage technology for inclusive growth

Africa must involve youth in policy making – WEF Global Shaper

How SA plans to reposition itself as an attractive investment destination

News Tips

Advertise With Us

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