Focus on Africa What Can the Private Sector Do to Align Migration and Development Goals? The times they are a-changin Bob Dylan Presentation by Jeff Hoffman, Ph.D. 1 Aligning Migration and Development Goals United Nations Institute for Training and Research March 23 24, 2009
March 23, 2009 Time Magazine Headline: Top 10 Ideas Changing the World Right Now #6 Africa, Business Destination Africa offers more opportunity than any place in the world. Stephen Hayes 2
March 21, 2009 Wall Street Journal Headline: Why Foreign Aid is Hurting Africa Money from rich countries has trapped many African nations in a cycle of corruption, slower economic growth, and poverty. Cutting off the flow would be far more beneficial. Dambisa Moyo 3
February 18, 2008 CNNMoney.com Fortune Headline: Investment in Africa Starts to Pay Off Widespread perceptions of corruption and violence do not deter some Western firms from putting money into African nations often with impressive results. Mark Gunther 4
Since 2006, foreign investment in Africa exceeded foreign aid, with over $60B in global direct foreign investment in 2008. Africa s profitability is one of the best kept secrets in today s world economy. Kofi Annan 5
6 Clearly, the role of traditional development aid is changing, and the role of business and investment is becoming more prominent for the future of Africa and other developing countries.
7 This will naturally mobilize African nationals in the Diaspora to return to their home countries; so what can the private sector do to help facilitate and expedite this process?
Promote Dialogue Harambe Endeavor is an alliance of African students attending world-class universities seeking to better address the challenges and opportunities of Sub-Saharan Africa. April 11 12, 2009 Symposium will focus on the efforts of Africa s Global Intellectual Capital (AGIC) 8
Promote Professional Development Maryland-based Howard Hughes Medical Institute (HHMI) announced on March 13, 2009, it is funding a $60M HIV/AIDS and TB research center at KwaZulu-Natal University s Nelson Mandela School of Medicine in Durban, South Africa. 9
Promote Return Emphasize positive and inspirational stories of successful expatriates who have returned to their home country. 10
11 Dr. Eleni Z. Gabre-Madhin returned to Ethiopia in 2008, after over 20 years in the United States, to found the Ethiopia Commodity Exchange, a privatepublic partnership, to provide an agricultural marketplace where buyers and sellers can come together to trade.
Promote a Positive Image TV The Africa Channel promotes the wonder, beauty, and excitement of Africa today. News Media AllAfrica.com, Africa Business Daily, Capital Markets Africa, AfricaNews.com 12
Promote Positive Cultural Norms Music Thank Jah I m on the right track, thank Jah I m on the right track, repatriation is a must, repatriation is a must Audley Rollins Africa awaits its creators / Africa awaiting its creators / Africa, you re my forefather cornerstone / Unite for the Africans abroad / Unite for the Africans a yard / Africa, Unite Bob Marley 13
Promote Remittance Remittance flows to and within Africa approach $40B. Western Union handled $67B of global remitted principal in 2008. 14
Promote Mobile Money Transfer (MMT) M-Pesa, offered by Safaricom Kenya, is a mobile phone money transfer service within Kenya. Plans are under way to test this on an international stage in an effort to tap the large amounts of money transferred to Kenya by its citizens spread throughout the world. 15
Mobile Money Transfer is forecast to generate $5B in fees by 2012 2009 MMT Conference will be held on May 5 and 6 in Johannesburg, South Africa 16
Promote Investment African Venture Capital Association (AVCA) is a not-for-profit entity founded to promote, develop, and stimulate private equity and venture capital in Africa. 17
Numerous private equity funds range from small cap to large cap, such as East Africa Capital Partners, Emerging Capital Partners, Pamodzi Investment Holdings, Development Partners International, and others. 18 Private Equity World Africa 2009 Johannesburg 26 29 October 2009
Promote Financing African Development Bank, World Bank Group International Finance Corporation (IFC), and the United States Overseas Private Investment Corporation (OPIC), etc. 19
20 Promote University Involvement Howard University African Business Club 2009 African Business Conference, February 27 28
Promote Local Investment Information For example, the Addis Connexion seeks to engage its increasingly international population of Ethiopians and expatriates with compelling, informative content, resources, and investment opportunities. 21
Promote Business Coalitions The Corporate Council on Africa (CCA): strengthening and facilitating the commercial relationship between the United States and the African continent. On March 4, 2009, CCA presented Policy Recommendations from the American Private Sector for the Obama Administration: The United States and Africa 22
23 CCA will sponsor the U.S. Africa-Business Summit, September 29 October 1, 2009, in Washington, DC, for more than 1,500 of the private and public sector s top leaders to find out about business and investment opportunities in Africa.
Promote Good Business Practices Continue to improve transparency, reduce corruption, increase tax incentives, and ease business registration: The Hubert H. Humphrey Fellowship Program 2008 Anti-Corruption Efforts in Africa Topic of Discussion at Chapel Hill Forum Transparency International the global coalition against corruption 24
25 Promote Employment Opportunities Job Web sites provide ready access and comprehensive information about growing opportunities in government, NGOs, and private business ventures for African Nationals.
Africa Virtual Job Fair Reversing Brain Drain: Mobilizing Professional Africans in the Diaspora for the Development of Africa September 29, 2009 December 31, 2009 Joint project between Corporate Council on Africa and Zebrajobs.com Demo Video 2 Minutes http://presentations.inxpo.com/inxpo/tours/inxpo_tours/virtualcar eerfairs/player.html 26
Promote International Collaboration It s a new day for development and migration. In Africa, new investment, business, and employment opportunities will draw people back home. > $40B in Foreign Aid > $40B in Remittances > $60B in Foreign Investment Together, we can create new opportunities and possibilities, and turn dreams into realities. 27
Thank you very much! 28 Contact information: jhoffman@danya.com