EMRC supports investment across Africa towards the ending of poverty, hunger, and the reliance on foreign support. What is your vision of Africa in say 2020 and what role do Africans play in this vision?
Idit Miller: EMRC sees Africa as a true player in the global economy in 2020, which will feed its people and will help feed the world. This is based on a few observations that show that the role of Africans is vital :
- The important progress made by many government leaders towards democratisation and transparency. Elections are run more smoothly and the number of conflicts are greatly reduced.
- The growing number of enterprises and banks opening up around Africa by African professionals who have gained their education and experience in the West and are returning back home to face the local challenges and contribute to the enhancement of their economies. In fact, we believe that the African private sector can play a crucial role for the future development of the Continent, as it represents the engine for growth. The African entrepreneurs are more and more structured and organised and cooperation between the public and private sector is growing. Thus, creating job opportunities and attracting foreign investments.
- The growing interest of intl banks, multinationals, SMEs and experts from around the world to invest in Africa.
But major challenges, such as better infrastructure, access to energy, regional trade, improved regional collaboration, as well as healthier business environment, still need to be defeated.
What have the learnings of EMRC forums indicated are the most important next steps for Africa to try to move closer to our over-arching goal of ending poverty across the continent?
IM: Our forums have not only proved that African people are looking for more business opportunities and are ready to work very hard for that, but also that the African continent offers many business opportunities. During our years of activity in Africa, we have witnessed the creation of numerous south/south and north/south technical, commercial and financial partnerships, materialsed during and thanks to these meetings. Africa is a continent that offers a wealth of profitable opportunities, which foreign investors are more than welcome to join.
The next important steps that Africa’s leaders should take include:
- Invest in improving the level of education, starting from elementary schools upwards, and promoting the importance of education and professional training among the rural communities, making sure girls have the same chance as boys. This will lead to more equality and allow young professionals to achieve more businesswise.
- Develop the financial network in the rural areas to facilitate access to micro credits for the smallholder farmers. Once finance is more accessible, it will also help moving from informal to the formal economy, and the financial system will gain the people's trust.
- Set up structures composed of government and intl/private orgs which can monitor the distribution of foreign assistance, to make sure the funds are well used to the benefit of local farmers and smallholders, to whom they were destined.
How does EMRC envision the optimum environment for the matching of sustainable business partnerships to ensure that the right investors do business in Africa?
IM: To attract the right investors to do business in Africa, the business environment needs to improve, for example: shorter time to register your business, less bureaucracy, incentives to attract foreign investment and to encourage local/international partnerships or right to the land; the educational system and professional training need to improve, so as to be able to recruit locally; the infrastructure – roads, energy, internet – needs to improve dramatically; and regional markets need to open. These are some of the essential hurdles which distant foreigners from approaching the continent. But here again, EMRC is optimistic, as we have followed the continent for almost two decades and much has already improved.
What most impressed you on your recent visit to Ghana?
IM: This visit allowed me to realize that there is a strong development dynamic shared by the Ghanaian government and the business community. Things are improving a lot in terms of political stability, business environment, as well as agricultural development. Many efforts are deployed for Ghana to diversify its economic activity and find other comparative advantages than Gold and precious mineral extractions. Clearly, the recent finding of petrol places a lot of hopes, as plans are to follow the examples of successful oil producing countries which have invested in improving the lives of the population.
Ghana is known for being rich in mineral resources and providing a good education system. How do you see the future of African countries such as Ghana?
IM: I believe Ghana, as well as all the other African countries, must put an emphasis on the individuals and stimulate entrepreneurship. Education is crucial to create a pool of skilled labor force, which will be tomorrow’s leaders. Another important point is the technology transfer which allow populations to enjoy benefits in terms of interconnectivity, improvement of productivity. In the global village, individuals have to keep an open eye on what’s happening worldwide. It can be a source of inspiration to develop new activities, as well as a means to gain visibility abroad.
Who should attend this year’s 2010 AgriBusiness Forum? Who will they likely meet there and how?
IM: In general we say that we invite and encourage the participation of people that have an interest in investing in Africa and anyone that has an interest in establishing stable, professional and profitable partnerships for Africa. The AgriBusiness Forum is a platform where private and public sectors meet with investors, project developers, consultancies, Int’l organisations, MFIs, coming from around the world to discuss and find new business partnerships in Africa. All this will happened with the support of the Business Matchmaking Service that we offer to our participants and that is organised in collaboration with USAID this year.
More specifically, participants will meet:
- Entrepreneurs, industrialists and multinationals representing the Agro-Food Sector (Inputs, Raw Materials, Equipment, Packaging)
- Financial Institutions: commercial banks, donors, international orgs, microfinance institutions
- Ministers and senior Government officials
- Experts: Consultants, project developers and legal advisers
- Research Institutes, training centres & NGOs (local and international)
- SMEs from around Africa with potential investment opportunities
What kind of outcomes do you expect to come from the forum considering the current economic climate in Africa?
IM: The forum focuses on food security and how to turn it to a business opportunity. We will speak about the role that the African continent can play in improving food access. We expect partnerships to occur and want the 4 days to be an opportunity for African delegates to showcase the immense potential that Africa can offer and attract new investments in the Continent. We want to give a voice to the private sector and, with this voice, assess its role in responding to the challenge of food security. We would like to propose practical solutions for increasing productivity and production and of course we will try to define the basis for innovative policies on food security.