Agenda

More than 50 years after many African nations became independent, we discuss how they can forge ahead for
economic development, secured trade links, democracy, security and good governance. Now, the challenge is to
build an enduring platform for the continent’s future, one that will provide much-needed jobs, allow for productive
investment, and create an environment for widespread opportunity.
- In the 21st century, is economic independence harder to achieve than national independence?
- Where are the strengths that can be built on, and where are the weaknesses that need to be addressed?
- What is the right roadmap for tackling Africa’s major challenges?
- What is the relationship between economic progress and broad security in Africa?

NYFA Key Data
Annual real GDP growth (2003-11) 5.2%
Forecast GDP growth (2013) 4.8%
GDP (PPP) $3.16 trillion
GDP per capita $3,025
Population 1.044 billion

The New York Forum AFRICA community of business, finance, policymaker and political leaders met for the first time in Libreville a year ago. What projects, ideas, initiatives and business emerged in the year since we last met?

Former heads of state consider what steps are needed to promote an equal, peaceful Africa.

Some of Africa’s most visionary heads of state provide insight into their key challenges, the hopes and aspirations they have for their country and their continent, and their perspective on the required actions to forge a prosperous future path.

The Extraordinary Session of the Conference with the Heads of State of the CEMAC    

Tourism, one of the world’s top job creators and a lead export sector (especially for developing countries) will play a significant role in the achievement of several of the Millennium Development Goals, including eradication of poverty, gender equality, environmental sustainability and global partnerships for development.

-  How can African nations build a successful tourism industry?

-  How can they market their “difference” as a destination, but also work with other African countries to promote Africa as a destination prospect?

-  How can nations manage the growth of their tourism industry to deliver maximum benefits and minimum negative impacts on local communities?

In the past few years, Africa has benefited from major investment into its internet economy. In Kenya, for example, the number of Kenyans on broadband shot up from 1.8 million in 2009 to more than 3 million a year later. Mobile networks, with enhanced technology, have been able to offer individuals and businesses attractively-priced internet connectivity, even in rural areas. As a result, Africa has in fact left the developed world in its wake when it comes to adopting breakthrough mobile technologies - particularly mobile payments such as the hugely popular M-Pesa system.

-  How can African suppliers partner with overseas counterparts to deliver quicker, faster, cheaper communications?

-  Are satellite providers on the verge of a game-changing drop in price?

Are capital markets growing in depth as African companies and projects grow in increasingly sophisticated economies?

Where are the best practices in financing?

Are local institutions providing the necessary financing?

In the year of the 50th anniversary of the AU’s predecessor, the Organisation of African Unity, the vision of a pan-African organisation for peace and security remains highly compelling. But recent failures to respond to the crisis in the Cote d’Ivoire, the Arab Spring, divisions over the NATO intervention in Libya, and a belated response to developments in Mali have shown that a true ‘Union’ remains some way off. How can we empower the African Union – and other cross-border institutions – so they can play as effective a role as possible?

By invitation only.

Mrs Sylvia BONGO ONDIMBA, First Lady, Republic of Gabon

Mrs Antoinette SASSOU NGUESSO, First Lady, Congo-Brazzaville

Dr. Malika ISSOUFOU MAHAMADOU, First Lady, Niger

Mrs Chantal BIYA, First Lady, Cameroon

Mrs Chantal DJOTODIA, First Lady, Central African Republic

Mrs Louise MISHIKIWABO, Minister of Foreign Affairs and Cooperation, Rwanda

Mrs Najat VALLAUD BELKACEM, Minister of Women's Rights, France

Mrs Hélène CONWAY-MOURET, Delegate Minister of Foreign Affairs, in charge of the French Diaspora, France 

Mrs Paulette MOUGUENGUI, Delegate Minister to the Minister of National and Vocational Training, Republic of Gabon

Mrs Fatou BENSOUDA, Chief Prosecutor, International Criminal Court, The Gambia

Mrs Sidonie Flore OUWE, Procurator General, Republic of Gabon

Mrs Cécilia ATTIAS, Founder and President, Cecilia Attias Foundation for Women, United States

Mrs Cherie BLAIR, Founder, The Cherie Blair Foundation for Women, United Kingdom

Mrs Isabel DOS SANTOS, CEO, Unitel, Angola 

Foreign direct investment has been strong in Africa in recent years, with China in particular seizing opportunities on the continent.

-  What are the sectors and regions of Africa that provide the greatest opportunities for investors?

-  Where are the hidden investment gems in different sectors?

-  What more needs to be done in regulation and governance to create the best environment for investors?

As the recent BRICS Summit made clear, there are increasing trade and investment connections between the large,  fast-growing economies of the BRICS nations -- Brazil, Russia, India, China and South Africa. What will the role of the  BRICS be in Africa? What are the characteristics of this new investment wave? 

-  Are there particular skills and perceptions that these newer entrants to African economies can bring?

-  Is there a more natural ‘fit’ between emerging economies?

China is pouring billions into Africa, through investment in oil and mining, as well as infrastructure, with Chinese firms constructing roads, bridges and stadiums. China has passed the U.S. to become Africa’s biggest trading partner. Will these strong, diverse investments continue? And how can Africa best benefit from its eastern partners? 

There are two hugely positive factors for banks in Africa: the vast numbers of unbanked individuals across the continent (only a quarter of adults in sub-Saharan Africa have accounts and only 3 percent have credit cards), and the steady diffusion of technology that enables African banks to leapfrog institutions saddled with obsolete, legacy IT systems. But some investors are growing impatient with expansion and investment at the cost of returns. What constitutes wise strategy for those forging regional banking giants? Will they maintain their independence or will global banks see them as the best path to Africa? 

By invitation only.

Private equity continues to grow in Africa, with over $3 billion raised in Africa-focused funds over the last two years. Illiquid, underdeveloped stock markets provide part of the opening for PE funds, and global groups are attracted by multiples 12 percent lower than the global average -- a signal of attractive valuations. Are favorable valuations going to persist, or will capital chasing deals drive up prices? Will PE be the investment of choice for long-term projects like infrastructure and mining? What are the advantages and disadvantages of PE investment for African companies? 

More than 40 per cent of Africa’s billion-strong population live in cities: a figure roughly comparable to China and more than India. By 2030, this figure is projected to rise to 50 per cent, and Africa’s top 18 cities will have a combined spending power of $1.3 trillion. By next year, the number of households in Africa with $5,000 or more in income could reach 106 million, and Africa already has more middle-class households than India (defined as households with incomes of $20,000 or above).

Africa’s growing middle class is growing rapidly, and has income to spend on non-food items.

-  But what are the prospects for improving the retail sector in Africa?

-  How will that help African consumers?

-  Where do the best opportunities lie for developing products particularly aimed at African markets?

-  What are sectors like banking, telecoms and real estate doing to increase their appeal to this captive audience?

The growth, development and expansion of small- and medium-sized enterprises (SMEs) in Africa is crucial for strengthening and deepening economies across the continent. SMEs, together with agriculture, are the clear engine for increasing employment and opportunities for large sections of the population.

-  What are the policy imperatives to foster strong SME growth?

-  How can large companies work effectively with SMEs?

-  What is the outlook from SME leaders themselves?

-  How can we ensure that women are supported and nurtured to create SMEs?

Thanks to an environment with venture capital and private sector input alongside public-private partnership business incubators, the United States has proven to be a supportive ecosystem for generating new businesses, while supporting entrepreneurship and innovation.

What lessons can Africa learn?

There is a wealth of entrepreneurial activity in Africa’s cities, townships and villages.

-  What are the challenges of transforming the informal economy into parts of the formal economy?

-  How can policy help both informal and formal sectors?

-  How can governments channel these social and demographic changes into new engines of domestic growth?

-  How can cities manage the urbanization process to handle this expanding labor force?

Despite the abundance of liquidity available to finance institutions in many parts of the world, too few SMEs have access to finance that allows for sustainable growth. And for those that are fortunate enough to operate in more developed markets where they can access a share of liquidity, there is the risk of either having too little financing or becoming over-indebted due to irresponsible lending practice.

-  How can banks in developing countries be flexible in their lending policies to favour SMEs?

-  How can banks develop more customer-centric servicing policies and risk assessment to help nurture SMEs?

-  How can we develop new products?

-  What financing alternatives outside commercial banks are available in developing nations?

How can we adapt (or create new) business frameworks so SMEs and entrepreneurs can start operating as a business more quickly and easily, and minimising red tape?

Policymakers have long lamented the comparative paucity of trade ties within Africa. But increasingly sophisticated financial institutions in many parts of the continent - and the steady push for stronger intra-African economic connections - are fostering greater amounts of intra-African financing.

-  What are the benefits of this growth, and where do barriers still exist? 

-  And what role does the joint-venture model serve for corporations looking for market entry and investment opportunity in Africa?

Is a regional airline feasible? How can national operators work better across borders to create a regional transport network?

During the NYFA, we will host think tanks designed to bring together a small group of industry leaders to focus on finding solutions to key challenges within their industry. To facilitate the free exchange of ideas among peers, the think tanks will be shaped by a “provocateur”, to encourage participants to explore new possibilities. The outcomes from the think tanks will form part of a manifesto to be presented to the G8 meeting just after the NYFA.

By invitation only.

Mrs Sylvia BONGO ONDIMBA, First Lady, Republic of Gabon

Mrs Chantal BIYA, First Lady, Cameroon

Mrs Antoinette SASSOU NGUESSO, First Lady, Congo-Brazzaville 

Dr. Malika ISSOUFOU MAHAMADOU, First Lady, Niger

Mrs Chantal DJOTODIA, First Lady, Central African Republic

President Olusegun OBASANJO, President, Nigeria (1999-2007) and Founder, Olusegun Obasanjo Foundation

Professor David Khayat, President, French National Cancer Institute, France

Dr Sam THENYA, CEO, Nairobi Women’s Hospital, Kenya

Ms Alek WEK, Supermodel & UN Refugee Agency Advocate, South Sudan 

A number of hotspots have emerged in Africa for innovative, technology-led start-ups.

-  Are there technology sectors where Africa has world-competitive strengths?

-  What lessons can be learned from these early successes?

-  How can the entrepreneurial spirit be spread throughout the continent?

As population and economies grow, so do the energy and infrastructural demands in Africa. What will be the proper pathway to a sustainable energy future for Africa? How will it integrate growing demand for energy, with the need to develop new, renewable sources of energy? What will be the right mix of solar, hydro, wind, geothermal and non-renewable energy sources? What is the proper relationship between new, renewable sources and traditional energy sources? What other actions will help create sustainable economies in Africa?

The resources boom has spurred profits, but it has also raised thorny issues on the relationships between governments and mining companies. What's the correct balance between resource nationalism and an environment that encourages responsible mining investment? Are the growing demands of some African countries out of sync with changing investment patterns by mining majors? How can recognition of the "long tail" benefits of mining to national economies assuage demands for higher direct payments?  

Despite the discovery of significant underground aquifers in several regions of Africa, as much as 40% of the continent’s population lacks access to clear water.

-  Are there ways to jumpstart water infrastructure?

-  How can the public and private sectors work together to solve Africa’s water dilemma? 

Navigating Africa’s economies and businesses successfully over the coming years demands skill, foresight and planning.

-  But what are the “foreseeable surprises” that could knock Africa off course?

-  Can we spot the “unknown unknowns”, or the Black Swans?

-  How can African business leaders develop the agility to thrive through uncertainty?

The demand for modern infrastructure across so many sectors of the African economy remains enormous.

-  What are the infrastructure priorities and how will they be funded?

-  How are some of the major regional infrastructure strategies faring?

-  Is there more than can be done in coordinating infrastructure development across national boundaries?

-  Where are the roadblocks to pushing ahead with modernization? 

Agriculture is a major economic activity in much of Africa, but most of the continent’s farming is low productivity and highly inefficient by global standards.

-  What are the prospects for developing more successful agriculture in Africa – at small-, medium, and large-scale?

-  What infrastructure needs to be created to assist Africa’s farmers and bring their product to market? 

-  How can financing be improved?

-  How can we encourage more women farmers?

A panel discuss the pros and cons.

Africa's rapid growth, booming cities and an aspirational middle class, are prompting luxury brands to look at entering new markets on the continent, despite the complexity of doing business in Africa, and the difficulty of finding suitable sites for their luxury stores. But the growth of the luxury market is tipped to be much slower than in the Middle East, even though the total investable wealth of high net worth individuals in Africa totaled $1.1 trillion in 2011, compared with $1.7 trillion for high-net worth consumers in the Middle East.

-  What are some of the lessons to be learned?
-  How do luxury brands need to customize their offering – and their marketing?
-  Is there reciprocal growth in luxury home-grown brands? 

1. It’s not just Nollywood: what are the local opportunities for production and generating content, and what are the global opportunities?

2. -  Does franchising of global brands, like Marie Claire and Vogue, have a better RoI than home-grown publications? And is their success because of a lack of offer - perceived or otherwise - within Africa?
3. -  How can African media outlets export more quality African content to the world, and how do they achieve the right mix between the global agenda and regional/local content and production?
4. -  How has the digital age affected reading habits? And how has the rise of "citizen journalists" and the increased prominence of bloggers affected the media landscape? 

With a population of just over a billion people, Africa has over 700 million SIM cards, but with most users owning at least two cards, penetration is only about 33 per cent. The unserved rural millions could represent another growth opportunity for Africa-focused operators, though they need to explore cost-effective ways to push into sub-Saharan Africa's remote corners. In rural Africa, the cost of running a network tower often exceeds the revenue it brings. Although roughly 73 per cent of Africa's land has cell phone coverage, that still leaves vast tracts of rural Africa without network access. But mobile phone usage has exploded across Africa over the last decade, transforming daily life and commerce for millions.

• How can we drive forward partnerships between operators?

• How can we lower costs for operators? 

 How can African city planners and governments achieve sustainable urbanization and improved living standards while preserving resources?

More than half of Africa’s population is less than 20 years of age and half a billion people are of working age; by 2040, Africa’s labor force will be larger than China’s. How does Africa need to adapt its education system to give the best possible chance for students, and the best possible entrants into the workforce?

The taskforces and think tanks of The New York Forum AFRICA have laid out a manifesto of thought and analysis across many of the crucial topics for Africa’s future. President Bongo announces the manifesto to the NYFA.