Monetary and fiscal policy executives from emerging markets in Africa are engaged in frantic efforts to market their economies at the ongoing World Economic Forum, WEF, in Davos, Switzerland, following the crash of commodities in the international markets, which has rendered their economies unattractive to investors.
Nigeria’s team, led by Finance Minister, Mrs Kemi Adeosun, would be making presentations at various meetings, while hosting some special meetings.
Chief Executive Officer of The Nigerian Stock Exchange, Mr. Oscar Onyema, will also be speaking today in session entitled Regions in Transformation: Sub-Saharan Africa, where global investor groups would be discussing shifts and uncertainties shaping the businesses and markets in sub-Saharan Africa.
With the fears of tighter U.S. credit and a rising U.S. dollar coming alongside a slowdown of China’s economy and an implosion of the related commodity ‘supercycle’, analysts say there was need for African business and economic leaders to explore ways to respond to these macro-economic issues.
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Other are Justin Lin, Professor, Peking University; Mukhisa Kituyi, Secretary-General, United Nations Conference on Trade and Development, UNCTAD, Lesetja Kganyago, Governor, South African Reserve Bank, SARB, and Benno Ndulu, Governor, Bank of Tanzania.
The World Economic Forum is the foremost global gathering of world leaders from Government, Business, Academia, Civil Society and the Media. At the beginning of each year, world economic leaders come together to shape the global, regional and industry agendas.
The push into Africa has been a perennial talking point at the annual WEF prompting an increase in Africa’s participation at the prestigious gathering of world leaders.
But analysts say that this year the conversation may shift as investors reflect on the economic headwinds facing nearly all emerging economies.
‘‘Davos 2016 looks set to be a tough one for African delegates as they try to maintain interest in the continent’’ according to Cable Network News analysis of the on-going forum.
‘’In Davos, marketing can be just as important as high growth rates’’.
Other Sub-sahara African economies competing for attention at Davos include South Africa, Ethiopia, Rwanda, Tanzania and Mauritius.
