Posted on May 10, 2013 by Daniel W. Yohannes, Chief Executive Officer
What will it take to deliver on Africa’s economic promise?
On my way to compact closeout activities in Lesotho, I had the opportunity to attend some sessions at the World Economic Forum on Africa in Cape Town to help answer that very question. The energy and excitement generated by 12 heads of state, five former presidents and over 1,000 participants from the private sector, government ministries, nongovernmental organizations, foundations, and development agencies inspired new thinking on unlocking Africa’s promise. And, I am particularly proud that MCC was able to play a part.
MCC participated in key discussions at the Forum that focused on some of the most fundamental building blocks for economic growth. We talked about strengthening land rights and governance. We highlighted the importance of policy reforms in the energy sector as key for sustaining other investments. We emphasized that helping African farmers boost trade regionally and beyond really depends on expanding their productivity to include a competitive range of diverse, high-quality products. MCC continues to be among the largest investors in African infrastructure for trade, but we first need to help equip African farmers and entrepreneurs with the necessary skills to generate the income-producing goods and services that will reach markets via the roads, bridges, ports, and airports we construct.
The World Economic Forum created a unique space to foster the kind of partnerships that can accelerate progress on these and other issues vital for Africa’s sustainable development. By partnering within the U.S. Government on a coordinated energy and trade strategy toward the continent, with African countries who know their development priorities best, and throughout the development and business community, we are working to create tangible opportunities to deliver on Africa’s promise and improve the lives of Africa’s people in meaningful and lasting ways. This commitment reverberated throughout the Forum and will continue to define MCC’s work in Africa.