Outcomes from WEF Africa 2015

By on August 5, 2015
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WEF Africa 2015 concluded with a range of initiatives, which will contribute to both the implementation of South Africa’s National Development Plan as well as Africa’s Agenda 2063. Some of the highlights of Team South Africa’s participation at WEF Africa included:

1. Finalisation of a youth mentorship programme with Mara Foundation President Zuma, together with the National Youth Development Agency (NYDA), concluded an agreement with Mara Foundation on the margins of WEF

Africa to bring to South Africa the innovative Mara Mentor online Mentoring Platform that will provide mentorships to young South African entrepreneurs.

This programme will be run through the NYDA and was officially launched on Youth Day 2015 – 16th June. South African youth will be mentored over a digital platform as well as on mobile applications and will be able to ask leading business leaders questions and seek advice on business issues.

This innovative solution will help to empower South Africa’s young people with skills and mentorship, which will see them being able to use their innate creativity and innovation to contribute to the growth and development of South Africa through entrepreneurship.

2. The Motsepe – Schwab foundations conclude social entrepreneurship deal In another significant development intended to support social entrepreneurship in Africa, the Motsepe and Schwab Foundations concluded a three-year, US$1.07 million social entrepreneurship deal, which will provide mentorship through peer-to-peer exchange programmes.

In addition, the Motsepe Foundation grant will provide Harvard scholarships to African-based Schwab Foundation Social Entrepreneurs. These initiatives will contribute to the development of South Africa’s, and indeed, Africa’s human capital – our most significant resource

3. Rail rehabilitation and infrastructure investment key to Africa’s growth General Electric and Transnet are looking at a partnership through which the company will use Transnet as a conduit to invest an expected US$4 billion throughout Africa over the next five years. In addition, General Electric will invest approximately US$1 billion in manufacturing facilities in Ethiopia, Mozambique, Angola, Nigeria and South Africa. In addition to supporting the priority of infrastructure development as an enabler of growth, development and connectivity on the continent, this partnership will also see about 100 engineers being employed in South Africa to establish

a Customer Innovation Centre for the ‘high-tech’.

4. Developing Human Capital towards the knowledge economy The Mastercard Foundation, also on the margins of WEF Africa 2015, announced a US$25 million investment in the Muizenberg-based African Institute for Mathematical Sciences, a development that is expected to support 500 masters students and train 3 000 secondary-school teachers over the next six years.

This will directly contribute to the National Development pillar to support the development of South Africa’s human capital with a view to moving the country towards a knowledge economy.

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