G20 Development Conference, Solutions for a new World
In the context of the G20 Summit, Africa 2.0 was selected to contribute to the G20 Development Workshops that took place in Paris (France), on October 21st 2011, around the theme: “G20 Development, Solutions for a New World”.
During those meetings and private prior engagements and discussions with key decision makers in charge of the G20, Africa 2.0 made recommendations on 2 major topics:
- The launch of an Africa Diaspora Bond
- The setting up of Regional Commodity Exchange.
The issuance of an Africa Diaspora Bond could help partially bridging the financing gap necessary to support the development of the continent by raising funds between US$5-10 billion every year. The Bond could provide affordable funding to corporate expanding across the continent and finance highly cross border infrastructure projects. The volume of remittance sent by the Diaspora to Africa is estimated between US$50-60 billion per year (could exceed US$ 100 billion if we take into account the undeclared remittance).
On the food security topic our group proposed the implementation of a Regional Commodity Exchanges in Africa as it could help address prices volatility, provide better information to farmers coupled with greater revenues, as well as set higher standards of production of food commodity products.
The Conference gathered 500 participants including G20 high profile representatives and other guests and experts from Governments, Civil Society, Private Sector, and the International Media. The -G20 Development- Sessions tackled 4 parallel workshops each dedicated to 4 specific topics: Food Security, Infrastructure, the Social Aspect of Globalization, Innovative Finance to fund Development.
We set up private meetings the day prior to the Conference, our group was received by Philippe Gautier, Director Medef International (the French business confederation, gathering 800,000 companies). Medef is chairing The Business 20 (B20) in Cannes. The B20 is an event which is part of the G20 Summit: it is meant to express common views from the international business community. More specifically, its main purpose consists in developing recommendations and issuing relevant commitments from the business leaders and business organizations to deal with nowadays issues. Africa 2.0 was subsequently hosted at l?Elysee (the French Presidency) for a subsequent meeting with Olivier Colom advisor to President Sarkozy for G8-G20, Development and Climate Change related issues.
The visit to Paris also allowed the team to meet and engage in constructive discussions with other personalities such as Getachew Engida (Deputy Director General of UNESCO) and Donald Kaberuka (president of African Development Bank) who both welcomed the Africa 2.0 initiative and look forward to further collaboration with our Group.
All in all it was a successful visit and our recommendations were highly considered and have positioned Africa 2.0 as a serious player with clear Vision and Knowledge on issues pertaining to the African continent and committed to ‘Transform Hope Into Action’ to deliver tangible results.
(click here to view pictures http://www.africa2point0.org/node/210)
By Lievin Feliho (Chapter Head Africa 2.0 France)
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