Business Times Africa Magazine 2017 /vol 9/ No2 BT2Edition2017_web | Page 10

AFRICA
Three ways to make rich
Africa work for poor Africa
Elsie S. Kanza
Elsie S. Kanza is the head of Regional
Strategies – Africa and a member of the
Executive Committee of the World Economic
Forum Geneva. This article was originally
published by the World Economic Forum.
By Elsie S. Kanza
At the age of 20, I aspired
to be president; and at the
age of 30, I was appointed
to work in the office of the
presidency of my country.
A decade on, I developed a
healthy respect and deep
sense of humility about what
it takes to successfully lead
and fulfill expectations of all
citizens in a poor developing
African state. With 70% of
Africans under the age of 30 –
mostly poor unemployed and
unemployable – I believe there
is a dire need for a heightened
sense of urgency in the face of
growing global and regional
political uncertainty.
C
enturies ago, Africans were caught
off guard by the advent of the
First Industrial Revolution, which
manifested itself in superior fighting
and transport technology. Centuries
later past the Scramble for Africa, wars
of independence from colonialism,
and half a century of struggle to attain
economic independence, the continent
is confronted with the rising challenge of
the Fourth Industrial Revolution. While
the first revolution was dominated by land
ownership and stretched over hundreds
of years, the fourth revolution is primarily
about knowledge ownership and is moving
at the speed of light. This new challenge
comes at a time when leaders are grappling
with the reality of the failure of past growth
to create jobs and reduce poverty and
inequality.
8 Business Times Africa 2017
Leaders around the continent are facing
myriad challenges, ranging from investment
downgrades and droughts exacerbated by
climate change, to illegal migration and civil
protests. More worryingly, the 2016 Ibrahim
Index of African Governance highlighted
that, among others, the rule of law has
declined in over 30 countries since 2006.
The path to inclusive growth
In this context, the theme of the
forthcoming World Economic Forum on
Africa in Durban, South Africa, in May
2017 is achieving inclusive growth through
responsive and responsible leadership.
Building on global-oriented conversations
at our annual meeting in Davos this year
on responsive and responsible leadership,
we hope to expand the conversation on
identifying new mechanisms to deliver
inclusive growth and development with
the regional and global leaders gathered in
Durban.
In addition, there is a sense of urgency as
more and more young people are turning to
violence to express their frustration about