Just to name a few: Mauritius, South Africa, Ghana and Senegal. Those are good examples. They’re having challenges, but they’re moving. South Africa has done well in terms of institution building. Mandela came and went. Mbeki is leaving in 2009. So at least that’s an achievement. Leaders are coming and going in Africa through democratic systems. Kofuor came to power through a democratic process. ________ economic reforms in Ghana. Things are moving. Mauritius. These are some very interesting examples of economic transformation. Africa has so much potential. Three drivers in Africa. One, natural resources. We have so many natural resources. We are the richest continent on planet earth. The problem is in terms of extracting those resources, refining those resources, and using those resources for the benefit of Africa. Secondly, human capital. There are so many well educated Africans who are in Europe, who are in America, who are in Africa. We have the potential in terms of human capital – excellent human capital. And that human capital can be used to drive African economies. Our infrastructure – not so great in some parts, but potentially it can be fixed. So using our natural resources, using our human capital, and using effective infrastructure and building new infrastructure, Africa can do well. And those examples I’ve indicated are an illustration that it’s possible for African countries to rise up and be players under globalization.
Recorded On: 7/5/07