Unisa SBL hosts international conference on sustainable African development in Durban

The Local Organising Committee of the IAABD conference that took place in Durban

The University of South Africa Graduate School of Business Leadership (Unisa SBL) will host the 19^th conference of the International Academy of African Business and Development (IAABD) in Durban from 16-19 May, themed ‘Sustainable African development and Self Reliance: Building Economic Bridges in a Multi-Polar World.’ This four-day event has been hosted by leading universities around the world as academics, students, entrepreneurs, development institutions and funding institutions from Africa and the diaspora gather to find concrete innovations and solutions to propel the African continent forward.

Over twenty years, the International Academy of African Business and Development (IAABD) has established itself as one of the world’s leading organizations committed to fostering functional education, broadening and deepening global understanding of the various challenges facing African development and business, and advancing alternative solutions to Africa’s business and economic challenges.  Meticulously selected papers on transferable lessons in development from countries around the world will be presented at the conference, with special sessions on successful strategies used by global companies, academic institutions and organizations.

Unisa SBL Professor Pantaleo Rwelamila, chair of the Local Organising Committee,  says, “The theme and focus topics of the 2018 conference highlight the need to establish the fundamentals for more inclusive and sustainable growth, converting the wealth created by economic growth into opportunities that all Africans can exploit to build better livelihoods.

Rwelamila highlights that the 2015 Africa Progress Panel (APP) report suggests that African Governments have failed to convert the wealth created by economic growth into opportunities to facilitate a better future for all. “African governments urgently need to ensure that economic growth does not just create wealth for some, but improves the wellbeing of the majority. This requires strengthened focus on Africa’s most productive assets and the mobilization of the continent’s vast ocean, mineral and forest resources.  Placing Africa on a transformative pathway requires investing in inclusive growth, with infrastructure as one of the priorities.  Africa’s financial systems are another priority area.”

Rwelamila says the IAABD committee focused heavily on five principles outlined in the APP report when convening the conference. Based on the broad-based agenda for change, conference outcomes will focus on five core principles:

• Sharing the wealth
  Inclusive growth and expanded opportunity are essential to eradicate poverty. The need for African governments to set equity targets linked to the post-2015 development goals focusing on narrowing gaps in opportunity. Strengthening the commitment to inclusive growth demands an expansion of social protection.
• Investing in Africa’s unique green revolution
  Doubling Africa’s agricultural productivity within five years is feasible, and the African Union states that Africa can become a major player in global food markets simply by unleashing the potential of sustainable agriculture and aquaculture to provide food, jobs and export earnings.
• Taking the profit out of plunder
  National and regional action alone is inadequate, integration with the rest of the world is essential to develop multilateral systems that prevent the plunder of Africa’s resources.
• Closing the twin deficit in infrastructure and inclusive finance
  The lack of finance and infrastructure is a bottleneck on growth and opportunity. Regional cooperation on energy and transport is vital in order to achieve economies of scale in infrastructure projects, and development finance institutions need to work with the private sector to foster more balanced perceptions of risk.
• Making tax and finance more fair and transparent

Strengthened domestic resource mobilization holds the key to financing for inclusive growth, with African governments investing in efficient and equitable tax collection. It is fundamentally important for international community to step up efforts to combat tax evasion and accelerate the automatic exchange of tax information.

“Africa has a chance to leapfrog – to catch up with worldwide trends if we address these issues,” says Rwelamila.   “We’re excited to be hosting a conference which was established by those in the diaspora that strongly aligns with the broader pan-African mission and vision of Unisa. We can’t develop in South Africa without developing other countries across the continent.”

A key contribution from Professor Rwelamila and the Local Organising Committee will be to translate discussions into action. For the first time,  all salient points from speakers and dialogues will be packaged and sent to all Foreign Affairs /Economic Cluster Ministers of all African countries. “While we have the brightest minds debating issues in this forum, we cannot assume that points will be integrated. We must recognise that we have a responsibility to document, disseminate and lobby issues and we are finding innovative ways to do that.’

Kofi Dadzie, President of IAABD, says, “Our meeting in Durban is significant for Africa at this time.  The APP report documents some of the great development challenges facing Africa that will not be easy to overcome. Yet, it argues that Africa’s political leaders, entrepreneurs, farmers and civil society have an unparalleled opportunity to transform their countries. If this generation seizes this opportunity, they will be recorded in history for eradicating poverty. This year the IAABD takes a leaf from Kofi Annan, the Chairperson of Africa Progress Panel (APP) by stating: ‘We must seize this opportunity now’ .