From 9-11 May 2012, more than 700 leaders from over 70 countries, experts in the spheres of government, business, civil society, academia, the media and arts, met in Addis Ababa, Ethiopia, to discuss Africa’s future, prospects, opportunities and challenges. The 22nd World Economic Forum (WEF) on Africa asked searching questions about transformation and the role of women, and sparked a sense of urgency around Africa’s online potential.
With Africa’s transformation at the forefront of discussions, Bethlehem Tilahun Alemu, the co-founder of soleRebels footwear and a WEF Young Global Leader, wrote on the forum’s blog that: “Africa’s creative entrepreneurs have seized the initiative and taken full ownership of all our resources – physical, mental, spiritual, cultural and creative – and are moving forward with huge ambitions. As our entrepreneurs forge new markets, create global companies, award-winning brands, jobs, growth and unmatched prosperity, they are redrawing the picture of needy Africans.”
Alemu continued: “The most exiting element is that these entrepreneurs are also exposing the true brand of Africa, a brand that bubbles with creativity and industriousness. A brand that is buoyed by reservoirs of talent and cultured people, and one that is enriched by Africa’s soil and her untapped treasures.”
The Schwab Foundation for Social Entrepreneurship announced the winners of its 2012 award on the opening day of the forum. The awards, presented by WEF founder and Executive Chairman Klaus Schwab, applaud and recognise social entrepreneurs who are leading transformation across the continent through their innovative approaches and business acumen. Fittingly, Alemu was one of the five winners.
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As the International Finance Corporation and The MasterCard Foundation announced that they would be spending $37.4 million over five years to support banks and other African institutions to provide small – microfinance – loans, a Kenyan start-up company was taking it a step further by rolling out a mobile app for instant loans.
M-Pepea, a full automated system which stands for Emergency Mobile Credit, is the brain child of Raven Ltd, a Kenyan innovation company which launched in 2010. The service – which offers urgent, short-term loans of between $58 and $350 to full-time salaried people – cuts out the advance approvals required by financial institutions.
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Call to Protect Africa’s Children
The Ghana News Agency reports that child rights organisation, Plan International, has called on African countries to work together to strengthen and develop child protection systems across society. Mrs Stefanie Conrad, Plan West Africa’s Regional Deputy Director, told the agency that current legislative systems in West Africa tend to favour perpetrators, rather than the victims, who are often left re-traumatised by the handling of these delicate cases.
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BRICS Plan Bank, Cable
The BRICS bloc of emerging market heavy-weights (Brazil, Russia, India, China and South Africa) are bedding down the relationship with three moves, in particular, making the headlines in recent weeks. First came the announcement that the group had taken a step closer to forming a development bank. Then came the declaration that the BRICS had signed two pacts which aim to promote the trade in local currencies among the five nations. More recently was the news of a plan for a 34 000km submarine cable system.
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