Africa Offers Opportunity, Officials At World Bank/IMF Meeting Say

31 October 2000

Washington DC — Former Zambian President Kenneth Kaunda appeared at a reception welcoming participants to the Africa Forum 2000 that got underway in Washington Monday.

"I am pleased that participants will put their heads together to see what they can do for the good of the Continent," he told the gathering. Mr. Kaunda is here to talk specifically about AIDS in Africa. "I hope to explain what I know about the problem," Mr. Kaunda said. He has lost a son to the disease.

As to why a discussion of AIDS in a conference where the main focus centers on bringing African business sectors together with U.S. and international counterparts in order to promote trade and investment, Mr. Kaunda cited a proverb: "Without the stomach being full, there is nothing you can do."

About 800,000 Zambians suffer from HIV/AIDS; the disease has orphaned more than 500,000 children. Zambia has an external debt burden of $7 billion. Last week, Zambia's Finance Minister complained that debt servicing left little for infrastructure development such as roads, schools and hospitals.

The Forum will be meeting over the next four days. In addition to the healthcare forum that Mr. Kaunda will keynote Wednesday, the tightly packed agenda includes panels on the Africa Growth and Opportunity Act passed by the U.S. Congress earlier this year, energy, agriculture, information technology, private sector investment opportunities and informal meetings with the Bank's International Finance Corporation investment officers. The conference aims to provide a variety of platforms for the exchange of information crucial to the development, and expansion of trade and investment in Africa.

Speaking at Monday's reception, Dr. Sidi Jammeh, Chairman of the World Bank/IMF Africa Club, which organized the Forum, said, "Africa can be competitive with anyone, anywhere."

Over the last two years, the Africa Club has expanded and intensified its efforts to foster African partnership with Bretton Woods institutions and facilitate African economic development.

Reflecting what the group hopes to accomplish, Thursday the Africa Club and top executives from several multi-national high tech companies announced formation of an African Technology Forum, a global nonprofit that aims to foster "business relationships" with African high tech companies. "We will foster the exchange of ideas and establish bonds that will serve as the building blocks for a new generation of thinking and entrepreneurship," said one CEO present for the announcement.

Says World Bank President James D. Wolfensohn, "The gathering comes at a very important time. It is a difficult time, yet a moment of real opportunity."

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