Raising Africa's economy
"We believe in conducting business now with an eye to the needs of the future and are very proud of our association and support of the Nepad Business Foundation. The NBF has common objectives and is a unique and timely business initiative that supports economic growth and sustainable development of African countries," said Philip Baum, acting CEO of Anglo American South Africa.
As a global leader in the mining sector, Anglo American seeks to make a positive and sustainable contribution to the communities in which it operates and beyond. This includes creating a positive post-mining legacy in terms of the environment as well as the economic and social well-being of the countries and neighbouring countries in which they operate. Anglo's increased support of the NBF, in addition to other initiatives such as the Investment Climate Facility, once again bears testimony to their long-standing commitment to economic reform, good governance and Africa's continental and global economic integration. Baum further added the interest of Anglo American to work with the NBF on the development of the business climate in Africa.
The NBF was primarily formed, at the behest of President Thabo Mbeki and other NEPAD leaders, to address the current challenges facing the African continent. Established in late 2004, the NBF now has a strong membership base that is in excess of 30 private companies that operate both within and beyond African borders. The NBF's continued approach to embark on initiatives in a hands-on and active involvement manner in the various business sectors, has contributed to the successful projects implemented in a number of African countries where NBF members are operational.
“Issues such as escalating poverty levels, underdevelopment and continued marginalization of Africa from the global economy needed a radical new intervention spearheaded by African leaders that would create a new Vision for Africa's Renewal,” says Lynette Chen, CEO of the NBF. “The private sector, the likes of Anglo American, has a crucial role to play in this intervention”
"The NBF has played a key role in the development of various pivotal industries that help grow economies of African countries," stated Baum, “Being a Founding Partner will precipitate vital development and growth of both the NBF and its initiatives.”
About the Nepad Business Foundation
The NEPAD Business Foundation's mission is to create a platform for dialogue between the private and public sectors in order to actively partner the governments of the continent to realize the objectives of the programme, but also to serve as an instrument which will directly influence public sector policies, bring about greater trade synergies and co-ordination and craft a more enabling business environment.
The Foundation, which is endorsed by the NEPAD Secretariat, will contribute actively to the implementation of the NEPAD Action Programme by ensuring constant communication between the Secretariat and the business community, representing the interests and vies of the private sector, and developing best practice standards in corporate governance for the entire region.
