One of the continent’s premier intellectual events, the Ibrahim Governance Week (IGW), organised by the Mo Ibrahim Foundation, brought together experts, practitioners and academics; businesses, non-profits, and some courageous government representatives; and exhorted them all to think creatively – and soberly, moving away from lofty political slogans in favour of verifiable facts and realistic policy solutions, about the long term challenges of the continent.
To highlight but a few of the enlighting conversations I was part of, some pertained to tax reform – corporate tax exemptions and ‘incentives’ cost us upwards of USD 55 billion annually, with (notwithstanding conventional wisdom) no commensurate impact on FDI attractiveness; sovereign wealth and pension funds habitually invest outside the continent rather than within, for a similar or inferior rate of return; poor global media coverage of African nations costs the continent up to USD 4.2 billion annually in inflated interest payments; and of course, the launch of the African Leadership Initiative’s report Reimagining Work for Africa’s Next Generation, on how to create 30 million fulfilling and dignified jobs by 2040 – an exceptional report led by our colleague Yasmin Kumi and the Tutu fellows.
And the conference was of course an opportunity to connect and reconnect with colleagues and friends, and perhaps briefly exchange with some of the continent’s Eminences Grises – it was a personal delight to meet the endlessly inspiring President Ellen Johnson Sirleaf.
The conclusion, unsuprisingly, is a renewed – but all too familiar – realisation that the path to inclusive growth in Africa remains long and arduous; but I left with a sense of optimism, thanks to the continued commitment of some of the continent’s most brilliant minds.
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Photo credit: Mo Ibrahim Foundation