The focus of the conference outlined the opportunities for private sector investment and active participation within two identified development corridors, namely the North-South Corridor (Botswana, Democratic Republic of Congo, Zambia, Zimbabwe and South Africa) and the Central Corridor (Burundi, Democratic Republic of Congo, Rwanda and Tanzania).
“It is a great honour to be part of this conference in which we will extensively explore measures of creating a viable infrastructure network that will promote economic development and integration in the SADC region. The Heads of States and Governments have already engaged and agreed in various meetings that regional infrastructure will be central to the sustainability of regional economic development and trade through facilities such as hubs and development corridors,” was the opening statement of the keynote address, delivered by the Minister of Transport. Jeff Radebe (MP), delivered on behalf of, deputy president of South Africa, Phumzile Mlambo-Ngcuka.
As part of the keynote address, emphasis was placed on the responsibility of the delegates in attendance to urgently ensure that this becomes reality, for it is their own respective countries that will gain from these projects through economic growth, job creation and poverty alleviation.
One of the main challenges for Africa is to overcome the communication barrier of negativity that disables private sector investment into core African projects. The NEPAD Business Foundation is actively working to dispel this myth by providing a platform for dialogue involving the public and private sectors through forums such as the conference. The NBF also seeks to provide a reliable network, to interact and expand using a reliable network through which information relating to economic development and related projects in Africa are exchanged as well as acted upon.
“Our aim is to mobilise private sector involvement to enable active participation in existing as well as new infrastructure development projects in the SADC region and Africa as a continent. A key component will be to continually communicate the various infrastructure projects and development corridor opportunities to the private sector and engage them through interactive forums,” said Lynette Chen, CEO of the NEPAD Business Foundation. Chen further added, “The event was over-subscribed which is indicative of the interest from business to explore new markets, unlock new business partnerships and to obtain valuable information on the Development Corridors under discussion as a key deliverable of the conference.”
Another key project under discussion at the conference was the fibre-optic submarine cable that will be built around Africa. A lack of infrastructure and high telecommunications costs led to the development of this cable, called Uhurunet, which will connect Africa with Europe, Brazil, India and the Middle East. Circumnavigating Africa, the 40,000km plus submarine fibre-optic cable that is currently being built alongside the continent's coastline, is still scheduled for completion in 2010. “The cable will make provision to connect every coastal and island country in the continent," as said by the adviser to the NEPAD Secretariat CEO, Dr Gengezi Mgidlana, addressing the audience in attendance. The cable will be owned by African investors as majority stakeholders and investors. Additional cable projects are envisaged across the continent and include the proposed $500m Seacom Project running alongside the West Coast of Africa.
Ultimately, the conference demonstrated the enormous need for private sector participation and engagement. Those in attendance found the sessions to be interactive, derived great value from the content and explored beneficial new business partnerships. As stated in the keynote address delivered on behalf of Phumzile Mlambo-Ngcuka, deputy president of South Africa, “This conference proves that NEPAD is alive and working.”
