 Excellencies, distinguished guests, ladies and gentlemen, all protocols observed. Bonjour, bienvenue. Good morning. Huyemore. Molo. Dumella. How's it? Bonjour. My name is Elsie Kanza and I'm the director head of Africa and a proud young global leader. Then it is a great honor and privilege for me and my team of colleagues at the forum to be your hosts at this meeting. Allow me to begin by thanking you for taking time from your busy schedules to join this annual gathering of our broader African community and friends of Africa. I'd also like to thank the city of Cape Town, government of South Africa and people of South Africa for their warm welcome and outstanding collaboration that has made this year's meeting possible. We're also grateful to our co-chairs, Frans Van Houten, chief executive officer and chairman, Royal Philips Electronics Netherlands, Moe Ibrahim, chairman, Moe Ibrahim Foundation, United Kingdom, Mustafa Koch, chairman of the board, Koch Holding, Turkey, Frannie Loutier, executive secretary, African Capacity Building Foundation and also a chair of a global agenda council on youth employment and Arif Nakvi, founder and group chief executive, the Abraaj group from the United Arab Emirates. Thank you. As well as our 43 official partners for their dedicated support. Last week as I was transiting through Frankfurt from our head office to come here for this meeting, an Eritrean lady approached me and said, excuse me for asking, are you Somalian? Now, I'm accustomed to being mistaken for South African based on my looks at home here inside and outside of Africa or Kenyan based on my accent or from the Democratic Republic of Congo based on my surname. Somalian was a first. She went on to explain that last year when the late prime minister of Ethiopia passed away, she was searching for information on him and came across a website, the World Economic Forum. And she could swear that she saw someone exactly like me speaking Somali. So I laughed and confirmed that it was indeed me and the language was Kiswahili and it was basically a call traditionally issued before telling a riddle or a story. In honor of that lady and in memory of the late prime minister Zinawi, I beg your indulgence to repeat the tradition introduced last year. When I make the call Kiswahili, you reply Tega. And what Tega means is go ahead. Kiswahili. More energy. Kiswahili. Excellent. As I mentioned at the welcome reception last evening, we're off to a flying start. This year we have an unprecedented and unparalleled number of participants attending across all stakeholder groups, which I believe is a recognition, not only of the high levels of interest. This region is attracting across the globe, but also the growing credibility and sophistication of the regions on businesses, civil society groups and political leaders. Let me share some numbers. Over 1,000 participants from over 80 countries globally. Over 50% of these participants come from across Africa from 41 countries. A total of 12 current heads of state or government from Benin, Ghana, Kenya, Malawi, Mauritius, Nigeria, South Africa of course, Swaziland, Tanzania, Togo, Uganda and Zimbabwe. As well as three former heads of state or government from Cape Verde, Mozambique and the United Kingdom. We are truly Pan-African. Women participation is up to 22%. And this year one third of all speaking roles will feature women. It's another big feat. We're not fully there, but we're on our way. We also have unprecedented attendance by young global leaders, global shapers, social entrepreneurs, civil society leaders or NGO leaders, labor union leaders, academic leaders, media leaders, religious leaders and cultural leaders. Reflecting our multistakeholder spirit. As you are aware, the forum is about more than bringing people together. It's also about creating a platform for all our stakeholders communities to collectively discuss and agree on how to work together to make Africa a better place for all. This year's theme, delivering on Africa's promise, is essentially a call for action focused on three key priorities. One, accelerating economic diversification. According to the World Bank, African countries still incur a food import bill of $25 billion annually of which only $1 billion is traded within African countries. This needs to change. Two, boosting strategic infrastructure. Only 12% of Africa's trade is within Africa. This compares to 60% in the European Union and 40% in Asia. This too needs to change. Three, unlocking Africa's talent. By 2015, Africa will be the youngest continent in the world. And by 2040, Africa will have a larger workforce than China. What an opportunity. With such an August gathering, we're confident that you will be able to meet the expectations of Africa's citizens. The journey has begun. And yesterday, many of you participated in sessions where you took stock of progress made over the past year with respect to ongoing initiatives such as the Grow Africa partnership initiative related to agriculture, the Africa Strategic Infrastructure Initiative, the Water Resource Groups Initiative that's been very successful in South Africa and is now spreading to East and West Africa, and the Green Growth Action Alliance. A final note is that given how Pan-African we have become, we have increased the integration of French this year and introduced Portuguese interpretation for some sessions. All plenary and TV debate sessions will be live streamed to the world at large in both English and French. Without further delay, let me now introduce our eminent panelists for our opening plenary entitled Building with Bricks. I begin with the far end with the Donald Kaberuka, President of the African Development Bank and Chair of the Global Agenda Council on Africa. Navin Jindal, Chairman, Jindal Steel and Power in India, also a young global leader alumnus. Madam Nkosa Zana, Clarice Dlamini-Zuma, Chairperson, first female Chairperson of the African Union Commission from Addis Ababa. David Lipton, First Deputy Managing Director from the International Monetary Fund in Washington, D.C. and our main host, His Excellency Jacob Zuma, President of South Africa. This session will be chaired by Professor Klaus Schwab, Founder and Executive Chairman of the World Economic Forum. Over to you, Professor Schwab. Thank you very much, Elsie Kansa, and thank you for being such a great ambassador, I should say, not only inside the Forum for Africa, but around the world. For me personally, this meeting is a very special one. It is the 23rd World Economic Forum on Africa, and actually the first two had taken place in Geneva, and it's exactly, Mr. President, it's exactly 20 years ago, so the World Economic Forum held its first meeting on African soil here in Cape Town, and practically at the same time in May. And if I look back, I have to say how much Africa has changed. The attitudes, the spirit, and of course, today, as we heard so many times, Africa is the continent of promise. But we should not forget that if you take the GDP participation, participation of Africa on global GDP, today it's 3%. Now, if you take the population of Africa and you relate it to the world population, it should be around 15%. It shows the gap, but it shows also the promise. And here, we, during this meeting, we want to highlight the opportunities which Africa is offering. And today we are starting with this plenary session, which is mainly devoted to the BRICS and Mr. President. You are not only a member of the G20, but you have been a member, you are now a member of the BRICS countries, and you have been the host of a very important BRICS summit recently in Durban. But before you take the floor, I would like to thank you personally, because having been now, having established a partnership with your country expressed in your great hosting this event, your government, the population of South Africa, we are very grateful for this, I would say, friendship, which has been established between your country and the World Economic Forum. But coming back to my question, your Excellency, what is the impact of you belonging to the BRICS on Africa, on your country and, of course, on Africa at large? Well, thank you. Thank you very much indeed, Professor. Thank you for coming once again to South Africa, to Cape Town, and really welcome my colleagues and everyone who's here. It's such a wonderful, warm spirit that we feel and vibrancy. As you say, Africa is changing. The very fact that we heard the BRICS summit, I think it indicates the kind of change. I believe that the membership of South Africa to BRICS represents, I think, a very important turning point to Africa's economic activities and connectivity to the globe. You are all aware that many major events in the centuries have bypassed Africa. Africa seemed in order to be existing when the world was active in many ways. This time around, I think the BRICS link indicates that Africa cannot be bypassed by the events that are changing the landscape, economically and politically and socially of the world. The fact that we have one of the African countries being a member of BRICS in the name of South Africa. Our belief, and it's not just the belief of South Africa only, I think all countries, is that the membership of South Africa to BRICS represents the one billion people in the continent of Africa. That, I think, was clearly demonstrated by what happened in the summit here. We have had summits in the BRICS ever since, we are members of BRICS. But when we came to South Africa, a good number of African heads of states came to participate along the BRICS summit to discuss, I think, for the first time that emerging economies, very huge economies as a collective of BRICS had a moment to interact with the African heads of states, those in particular who leads the economic regions of the continent as well as those who lead NAPAT and other leaders to discuss what Africa today is discussing in terms of the need for integration of the economic regions and activities in the continent, as well as the infrastructure to help present a good platform for inter-trade in the continent. Africa says time has come to change, and of course, as you know, if we talk about the integration of the economy, if we talk about the infrastructure which is championed by a number of heads of states, it indicates that Africa's attitude towards itself and towards how we should interact with the world has changed. Of course, as you know, one of the major problems would be how do you finance the infrastructure so that we are able to move forward. That summit helped to create that interaction between the representative of the leadership of the continent and BRICS. In other words, Africa could today, unlike in the past, we could say in the past, come, invest in Africa, there are possibilities. But it would not be easy to really look at them and say, here are these possibilities. I think BRICS leadership found it very pleasing that Africa could say, here are specific projects that Africa is presenting to investors. And I think that meeting was very, was very, very useful. Firstly, the unified voice of the African leaders on the issues that need to be prioritized, but also for those who have the means to be able to look at the case presented by Africa and say we are ready to respond. It was an important one and I think taking it from BRICS, even to this World Economic Forum, I think Africa has a story to tell, has a presentation to make. This, I think, says Africa has changed. But it also says a lot to the South, to the developing countries that this group in BRICS is representing an organized voice within the broader section of the South. That we are in a better position to present this. And it also, the interaction between Africa and BRICS, it brings an organized interaction so that the relationship is not haphazard, is not all over, is well organized, so that whatever we are able to benefit, benefits all of us in the continent of Africa. I think it represents a different level of Africa's development, particularly if you take into account that Africa is one of the regions that is fast developing economically. And therefore I think African leaders are saying for the first time, let us organize ourselves, let us talk to the kind of organizations that will respond very positively to what we think needs to be done in our continent. So we are very happy that we are able to organize that kind of interaction of BRICS and the leaders in the continent of Africa. Thank you. Thank you, Mr. President. I think it's very important what you just told us. BRICS is not just an accumulation of five important countries. It is a symbolic and real expression of the great transformation taking place in the world with the transfer of economic and political power from the north to the south and from the west to the east. Now, David Lipton, you are the Deputy Managing Director of the IMF. How do you react to what you just heard from the President and how in the framework of the global outlook of the IMF, how do you see the BRICS and particularly also Africa? Thank you. First, let me, Klaus, thank you for inviting me here. And President Zuma, thank you so much for the hospitality South Africa has shown. I think that the role of the BRICS can be very much a new factor and an important positive factor here. First, on the economies of the region, the economies of Sub-Saharan Africa have been generating growth now, strong growth for over 15 years. And this is coming together of a set of events, the end of the ideological strife in Africa, the clear political direction on economic issues to promote stability and promote growth, the experienced generation of policymakers who are doing such a good job. And the new factor, information technology, computers, phones that are allowing Africa to span distances, remoteness after all, has been one of the most difficult broad problems for Africa. Africa now faces, it's interesting that Africa's progress was not derailed by this financial crisis. We've written a paper, given advertisement for Chapter 4 of our World Economic Outlook that just came out, looking at the question, is this a false dawn? Is African growth going to stall? And our conclusion after looking at this quite seriously is that this growth is robust and we expect it to continue. Africa obviously has a huge amount of remaining challenges, and that I think is where the BRICS come in. Africa, of course, has relied very heavily on advanced economy markets, and now advanced economy markets are stalled and not providing the kind of engine that they have in the past. And so the role for BRICS, and not just BRICS, but other middle-income countries I think is substantial. Let's approach it for a second by asking, what do countries need that the BRICS could provide? They need macroeconomic stability, strong financial systems, trade, and investment. And I think BRIC countries can contribute in a range of areas. Let me use as an illustration, I was in Mozambique before coming to South African. To me, the Mozambican situation and story tells the picture. First, Mozambique has discovered huge natural resources. They need companies to help them extract those resources. Already, there's a big Brazilian company involved and other BRIC companies can become involved. They then need to turn all of those resources into productive assets. They need to build infrastructure. They are in the process of being, they're already a port for South Africa, but those facilities need to be upgraded. They can become a port for landlocked countries to the west, but that will require infrastructure. They have 78% of the population still in agriculture, many living in remote areas that need agricultural access roads. BRIC countries can help with the infrastructure. They need to enhance agricultural productivity. Who knows about enhancing agricultural productivity? Brazil, India. And along the way, they need to build the capacity to be able to do those things well. And BRIC countries have gone through dealing with those challenges. So I think there's a lot of room for help in terms of technical assistance, capacity building, and so on. This will be hard. Mozambique's also an example of how difficult the challenge is with remote, with substantial income disparity. Very poor people living in remote areas, lack of poverty, lack of skills, the need for an education system. The challenges will be very great. I think BRIC countries, their companies, their governments can play a very important role, as can other middle income countries. Helping African countries develop, helping them integrate so that eventually they can help each other. And as Klaus started out by saying, in essence helping Sub-Saharan Africa get on the convergence path with income levels that rise and start heading towards the levels that are experienced in more developed countries. Thank you very much, David. So President Sumar mentioned already infrastructure, the significance of infrastructure. David Lipton referred to his experience in Mozambique. You are at the core in financing also infrastructure, and it plays a big role in infrastructure inside our program those days. Could you comment on how infrastructure development in Africa could be accelerated, and particularly the role of BRICs also in this respect? Thank you, Klaus. But could I just add a small point what President Sumar said? I think our relationship with the BRICs is about all those things. But I think one of the most fundamental one is the experience of development. Some of these countries were poor not long ago, and they have come to where they are by a combination of policies and some choice in investment. I think that is important for Africa as well, because for a long time we have struggled with how does development happen, and we thought there was a model out there which can be imported. Now we know that development happens in many different ways. So if you look at this G20, all the countries on the table have reached development from different angles. Some from laissez-faire capitalism, others welfare capitalism, others by state capitalism, others by modeling through. I think all those experiences are very important for us as well. Now coming to your question, Klaus, I think this is our take. This is a very exciting moment in Africa. There are many problems around inequalities, inclusion, that kind of issues you have to deal with. However, the fact is, if you take many regions of Africa, aqueous for example, because I can see, because of Nigeria is here, the GDP of aqueous has multiplied five times in the last 20 years. If you look at the capital income in Africa now, I know that's an average, well for the first time, it crossed the $1,000 per person barrier. That is significant. That is significant. Now there are issues around inclusion in inequalities as well to come to that. Now there are some risks to this momentum in Africa. As I was saying yesterday in another panel, I think the first risk is politics. We have to fix our politics, ensure that combat for politics occurs in a manner which keeps development going. Number two is the global economy, because you're not an island. Number three is infrastructure. In other words, reducing the costs of doing business. Because poor infrastructure aids about 40% to the cost of doing business on the continent and trading. So we have come to a point where now a lot of progress has been made, but now we have to come to scale. Every country you visit, there is a power of connectivity of transport. Now, how do you bring this to scale? The first thing is to look at ourselves. It can just be the bricks. We, in our own countries, by better mobilisation of resources, our savings in our countries, in our regions across the continent. That is why the African Development Bank in its new tenure strategy, which we discussed with Dr. Zuma here not long ago in the context of this futures anniversary, we are trying to launch a very special initiative for Africa itself to mobilise our own resources for infrastructure. Because we are sitting on resources on this continent, and I think that is a place to begin. Because it can no longer depend on foreign aid for this kind of thing. Having done that, we are now to look for partnership with other countries. Now, that partnership is not only for the bricks. It has to be with other countries as well, but mainly the bricks. And I think here, at I think the G20 summit in Korea, I think President Zuma, if you recall, the premiers of India gave a very good idea. He said, look, among some of the bricks countries, you have got a huge surplus, which are destabilising currencies as well in the world. Why don't we figure out how to recycle some of those surplus in high-return African infrastructure? Not as grants or as gifts, but we identify projects on the African continent within PEDA, which are high-return, and we figure out a mechanism to get those surplus into this infrastructure. Then a high-level panel was set in place, chaired by Tiam under the French G20 presidency, but we have not gone far. I think we have to pick this again. And I think the creation of this bank, which was discussed earlier, was a very good thing as a vehicle. I think we could work together with other African institutions, in particular the African Development Bank, to intermediate those resources and increase investment in infrastructure. Now, I was a bit disappointed though, President Zuma, that the brick bank, I think, I was hoping for a much more ambitious instrument. I think I had figures of 50 billion, that is too small, because the African Development Bank itself, our size is $100 billion capital, and I'm hoping the bricks bank can be more ambitious, maybe five times our size. But surely they cannot come in with 50 billion, it would be too small, too small. But assuming that the brick bank is an ambitious vehicle, which I hope it is, I know you are pushing that very much. I think there is opportunity for us to cooperate, not as grants, not as gifts, but to invest in infrastructure on the continent, which would then increase trade opportunities for ourselves, but also trade opportunities between us and the bricks. I would like to go back immediately to President Zuma and ask him, this concept of the bricks development bank is such an important concept. What will you and can you do to make sure that this bank becomes soon a reality? Well, thank you once again. The bank is going to be soon a reality. As you know, the brick summit in Durban took a very firm decision to establish the bank. And finance ministers have been instructed to work on the details of it. There are important issues that need to be considered because we certainly, part of the reason we thought it was important to establish the bank is because we needed a bank that could respond to the challenges and the needs of the developing world, not just bricks only. The bank is about the developing countries that the bricks is establishing. So the decision has been taken. I think there are just two issues besides other details that would be worked on. The issue of how do we capacitate, in other words, how do we capitalize the bank by the members of bricks? That is an issue that the finance ministers are discussing because we want to capacitate it so that it is able to address the immediate needs that the developing countries have. With a different approach to the world-established old banks, which at times, if you wanted to deal with your matters as quickly as possible, the bureaucracy is rather a little bit slow for those who are in need. That's one of the issues that they are looking at. How do we capitalize it? Because we don't want just a bank that would not be able to respond to the huge challenges. Secondly, is domicile? Where will it be? And Africa is very interested that the bank must be in Africa. Every other thing is outside this African continent. And Africa feels we need this bank to be established here, particularly because the greater need of the bank certainly is in the continent of Africa. In the next summit, I'm sure, we'll be getting a report about the two issues that have raised and other issues. And then there will be a very clear decision because the bricks members understand the need, the urgent need of the bank to be operational as quickly as possible. So it will be, I'm sure, in the next, which will be held, I think, in Brazil, there will be a report that says what do we do because the decision has been taken. It's a question of how do we capacitate it, where will it be located, and what are other kinds of things that go with what the bank should do. David, just a short word. You are representing one of the traditional Bretton Woods organizations, and of course the World Bank is one of the three organizations, and you are one. Do you see it as a complementary move or as a competition? Oh, I think it's a complementary move. We surely see the need for mobilizing infrastructure investment. We've studied that at the request of the G20 in which the bricks all participate and identified the need, and I think it's complementary and will be complementary to the fine work of the African Development Bank as well. Let's come to the role of private business also in infrastructure development. And you, Navin Chinda, you are a member of the Indian Parliament, representing two million constituents, but you are also a well-known business leader and one of our young global leaders. How do you see how you could contribute to the infrastructure development not only in your country, which is very much in need of better infrastructure, better of Africa? Thank you, Mr. Schwab, for inviting me here, and I'd also like to take this opportunity to thank President Zuma for his hospitality, and also for providing leadership in promoting cooperation between Africa and bricks. So the question, we see lots and lots of opportunities in Africa, in the whole of Africa, and these are all the areas where the bricks countries also have lots of challenges and have also learned a lot from their experiences of the last few decades. So obviously we've all been speaking about challenges of infrastructure here, but those very challenges also are opportunities. In development of infrastructure, may that be building of roads, railways, ports, this Africa is blessed with so much of natural resources. But the point is, how do we exploit it for development of Africa? And this is a window of opportunity. These minerals are valuable today. They may not be valuable after 50 years or 100 years. So one has to be able to use these natural resources for the development of this great continent. And then opportunities, whether it's agriculture, whether it is education, health, so learning from the experiences of bricks countries. I think those very experiences can be very well suited to Africa. So we are looking at many such opportunities here. Most of the African countries that we have seen are having acute shortage of power. And they're running mostly on diesel generating sets, heavy furnace oil, and the cost of power anyway is from 30 to 50 cents. And one could very easily, through various ways, generally whether it's solar or wind, renewable or even coal fired, provide power from 10 cents to 15 cents. And I think power is something, is a basic enabler for everything, whether it's education or agriculture or health, one just cannot do without power. So and I think where there's an opportunity and people are already buying power at very high prices. So I just feel that the time has come that when all these infrastructure projects are going to take off in Africa. And these do provide great opportunities in all the countries, even bricks countries and especially in Africa. So I think these are real opportunities here and whoever would, obviously there are risks also involved. And what needs to be done by these countries is to have a model power purchase agreements which are bankable, which are fair to both parties, which are transparent and in an open bidding environment so that one could get the best prices of power especially. And I think with power and already there has been a revolution in mobile telephony all over Africa. And the whole of Africa is benefiting from the mobile revolution, mobile telephone revolution. Similarly, a similar revolution needs to take place in infrastructure, especially power generation and transmission. Transmission and connectivity of various regions, various countries with each other so that surplus power from one country. And it has been happening in local regions, especially in southern Africa, the Sadaq region. It has to happen more all over Africa. And I think this would tremendously help Africa grow, realize its true potential and also offer opportunities to countries and companies investing in these projects. Thank you. Madam Summa, the African Union which you chair just celebrated its 50th anniversary, so congratulations. I think it's also the moment not only to look back and to look at the present issues and challenges, but to look very much forward as we all do, of course. But what is your vision for, I wouldn't dare to say for the next 50 years, but at least for the next 10 years. Can you share with us your longer term vision of Africa? Thank you very much. Indeed, we are celebrating our 50th anniversary, starting on the 25th of May this month. And we have decided to celebrate for the whole year and I'll come to the reason why. And the way we're going to celebrate is to look back just for a moment, to look at our achievements, learn lessons from what we didn't do well, and take care of our present situation and then spend more time looking into the future. And of course, we think that in the next 50 years, Africa should be described as a prosperous continent at peace with itself. We think it's achievable. We are looking at what assets does Africa have that will propel it to this prosperous Africa at peace with itself. And one, I'll mention a few of those assets, some have been mentioned, but we think our most precious and most abundant asset is our people. We have to invest in our people. We investing in our people means they must be healthy, so investing in health, but also in education and skills. Science and technology, research, innovation. If you look at Singapore, for instance, Singapore maybe 1960 was at the same level as Jamaica in terms of per capita income. But they don't have many natural resources, but they concentrated on skilling their people. And now they are at more than $29,000 per capita. So we have that resource and we have it in abundance and we're going to be growing and it's going to be a young population for a long time. Energetic, creative and innovative. So if we invest in them, we think prosperity is in sight. But agriculture in South Africa is as bigger than in Africa. We can feed the United States. We can feed China. We can feed India. We can feed Western Europe. There will be still space for Japan. So we are a huge continent and that means looking at the world, looking at the available arable land, 60% is still available unused in Africa. And that is a huge potential if we invest in agriculture. And investing in agriculture will mean not only food for us, but it will also mean food for the world. We will sell food to the world. But we can also create jobs for our people, not only in the immediate agricultural sector, but in the processing of agricultural products. So we can create more jobs and we can export processed food and we can get more revenue from that. The other asset has been mentioned, mineral and natural resources. I won't go into it because it has been mentioned. Suffice to say, of course it can also assist us in industrializing. It has to work for the benefit of our people. Developing infrastructure will also increase our growth, but the absence of infrastructure is a constraint to growth. So infrastructure in transport, why can't we have infrastructure that links all our capitals? That's part of integration. It's possible by rail, by road and using modern infrastructure. We can't start where the industrial revolution started. There's new technologies when we talk trains. Why can't we speak trains? And I think it's possible. We must set our minds to it. It's possible. And of course energy, at the moment, we're producing just... We're generating the same amount of energy as Spain in sub-Saharan Africa. And Spain, we have 20 times more people than Spain has in sub-Saharan Africa. And half of that energy is in one country where we are. So there is a huge potential in energy. And of course in telecommunications, it's been mentioned that we are now the second biggest market for mobile telephones second to Asia. But why can't we use that also for education? Why can't we use internet to have massive programs of education? It's possible, we should do it. And I think looking at the young population and looking at women, if we can get the young people and the women in all our human endeavor, then this continent is poised to be amongst the greatest in the world in the next 50 years. And it's possible. It can be done. And of course we need partnerships, partners. The way we're going to celebrate, I said I'll come back to why we're celebrating for the whole year. Our celebration for the whole year is going to our population, to business, to youth, to women, to the artists, to everyone to say where do you want Africa to be in 50 years? What are the steps that need to be taken? And what is your role that you are going to play in getting there? So our business people should be defining where they want to be, what their role, what steps, and all our people because Africa's development cannot be only the business of governments. It has to be the business of its citizens as well. And so we'd like to use this year, this celebration to energize, to galvanize our people to be part of this vision which we call Africa 2063, which will see Africa prosperous and at peace with itself. Thank you. Thank you very much, Madam Suma. I would like to use this opportunity just to highlight that we are here assembled not only to discuss those issues, but to make real progress. And in this context, I would like to thank you for the great partnership. We just ended the special meeting on the Pro-Africa Initiative. We had very concrete discussions on infrastructure. Thank you for letting the World Economic Forum be your partner in those initiatives. Now, Mr. President, what is your outlook? What is your dream for Africa in the next 50 years? When we will be again on the stage because we are so committed in 50 years, what would you be particularly proud of? Well, I think the chair of the AU Commission has really highlighted what we want to be as a continent, given I think the potential and also the kind of the understanding that the Africans themselves have today and the commitment to move forward. In 50 years, we would like to see Africa as it she has been describing it. Africa that will be connected totally. Africa that will be economically very viable. Africa that will be at peace with itself where there will be no single area of conflict. Africa with the population that will be empowered with education, that therefore will be playing a role to ensure that Africa moves on all the time. We would want to see Africa that is able at the 50th time, that is able to utilize its own resources to develop itself and to trade with the world at the equal level. I think it is very possible because if you take the 50 years since it was established to where we are today, we are almost at the point of launching Africa into very great activities to achieve the prosperous continent. So we would like to see Africa we should be self-sufficient in everything and that is a possibility. I know the chair was talking about the modern transport for an example. I think we should 50 years time. We should have a situation that not just by playing on the ground that in a few hours we should be in every capital that we wanted to be. So that is Africa we are working for and I think the potential is huge. The possibility is there and the commitment. That is part of the reason we are working very hard to ensure that we read the African continent of the conflicts that you have because you cannot develop Africa to what we wanted to be or wish it to be in 50 years if there are pockets of problems and conflict. That is why we are putting more effort on those kind of issues. That is why our interaction with our friends and partners and the call for support to address those issues are an important one. As long as we have conflict, development and conflict do not go together. So I have got to stop and get rid of conflict in order for us to have the kind of Africa we would want to have in 50 years time. Dr. Kavaruka, you made a very interesting distinction in your comments. The distinction between welfare capitalism, state capitalism, and laissez-faire capitalism. What do you see as the light motif, if I may say so, for Africa in its development? Now Klaus, you put me in a fix because I began by saying there is no mode of development. For a long time we thought there was a mode of one who could go in the peak of the shelf. It does not work like that. So Chinese have found what works for them, such as the Indians, the Koreans, the Scandinavians and others. I am only saying that we Africans, from our own experience, learning by doing, we can go a step further. I cannot suggest that we shall fall in a particular mode, but that is a mistake we have made in the past trying to copy things that happen elsewhere. So I think that it will happen, the way it is happening in other places. There will be a mixture of all those models. Clearly some degree of social protection is needed. We don't want world-west capitalism where there is no social protection. But on the other hand, market forces have to be allowed to flourish. Market forces will not flourish if the state is not doing what it should do. So I think it will be a combination of all those things together. This is what will get us where our leaders are saying, I think for me, the next 50 years, should at least try to banish what has been Africa's fact and demanding operate, dependency on foreign aid. It cannot be that the next 50 years we're still financing our development based on other people's taxation. We have to figure out how to use the extensive resources of this continent for its own transformation. And that cannot happen if we are balkanized as we are. This is why I agree with Madam Zuma and Mr. President. We have to come together. We have to build infrastructure. Use our resources more optimally. Yesterday we were discussing how it is so difficult for Africans to move inside Africa. You go to Europe with your Schengen visa, you go from country to country. But here, even me, president of the Afghan Development Bank, to go to some countries and need a visa, I have to go around, but I'm going there to help with development. So let us allow our own talents to flourish. Let us use our own resources. Let us ensure that we unlock the potential of this continent. That is what we give pride to our children and grandchildren to ensure that Africa in its 50 years is playing its part in trade and investment like other parts of the world. Look, 30 years ago, China was a very poor country. I was a graduate student, so it's in our lifetime. 20 years ago, India was a very poor country. Some of us were still maybe already in our mid-careers. I think that we can transform this continent within one generation if the things Madame Zuma was saying, Mr. President, do happen. It is possible. I would argue that what we need is inclusive capitalism where everybody becomes, and I think that came out of the statements very well, where everybody is engaged and becomes in some way an entrepreneur, having the capabilities to contribute to the welfare of society.