Editorial: Economic Forum to raise Kigali profile

For the first time, outside of South Africa, the World Economic Fourm (WEF) for Africa, will meet in the Rwandan capital Kigali between May 11 and 13.

WEF Africa is an annual event and a spin-off from the main discussions that take place in Davos, Switzerland every January. However while the Davos deliberations set the main agenda, WEF Africa concentrates on how that agenda can impact on Africa.

Heads of government, senior ministers, top technocrats, business people and a collection of non-government organisations regularly attend.

One must congratulate the Rwandan government for getting the nod from the WEF Secretariat in Geneva. This is in light of the fact that just 20 years ago, the country was spotlighted in the international media for all the wrong reasons. Reasons that unfortunately once characterised Africa as the ‘hopeless continent’.

On the other hand, Rwanda has done much in getting its credentials looked at seriously. From once being a virtual non-runner, Rwanda now ranks in the top five African countries in the World Bank/International Finance Corporation Doing Business Survey.

The government has made no secret of its intent to raise its international competitiveness by harnessing human resources and capital towards a knowledge-based economy to mitigate against scarce natural resources and Rwanda’s position as a landlocked country.

In terms of speed, no country in East Africa is moving as fast to ensure countrywide connectivity through internet peneration than Rwanda as it pushes for a cashless economy.

This is perhaps another major reason why the WEF Secretariat chose Kigali. At Davos, the focus for invited participants was the ‘Fourth Industrial Revolution’.

In Kigali next month, guests and participants, will dwell on Africa’s growth, development and prospects as the world faces the Fourth Industrial Revolution under the theme, ’Connecting Africa’s Resources through Digital Transformation’.

Africa’s ability to rise to the challenge of the Fourth Industrial Revolution, a period of global change and transformation characterized by accelerating innovation, greater complexity and increased uncertainty, will be the focus of the Kigali event.

According to the WEF Africa organisers, participants will discuss solutions and advance actions to address the following challenges, among others: Adapting to an economic age where manpower is increasingly challenged by machine learning.

Building smart cities and connected, inclusive societies capable of supporting Africa’s unprecedented urbanization boom and building vibrant rural economies.

Building growth strategies around environmental sustainability and creative industries, and creating policies that champion Africa’s people as well as its natural resources

They will also explore the many ways that technology will change the way that people live, work and relate to each other, and how diverse and cutting-edge technologies such as block chain, along with neuroscience, quantum science and big data can help address Africa’s development challenges.

The Rwanda government, through the Rwanda Development Board, has laid out a neat plan to rapidly roll-out an above average the meetings, incentives, conferences, exhibitions (MICE) industry. It is being centred around the Kigali Convention Centre now under construction in phases. Hosting WEF Africa will therefore open the eyes to potential clients of the future.

For the East African Community (EAC) as a whole, the holding of these high level business talks in the region will help showcase the progress the EAC has made towards the integration process.

By Editor, Monday, April 18th, 2016


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