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The summit is also focusing on the need for Africa to consolidate current growth while pursuing strategies for sustainable development.
At least 900 delegates from 60 countries are attending the three-day conference guided by the theme “Vision to Action, Africa’s Next Chapter”.
This is at a time the continent’s recovery from the global economic crisis has been faster than many other regions of the world.
Africa’s economic resurgence over the past decade has seen its Gross Domestic Product growth averaging 5,2 percent the global average has been 4,2 percent.
The continent is set to achieve at least 5 percent growth this year.
Zimbabwe’s delegation is led by Prime Minister Morgan Tsvangirai.
Deputy Prime Minister Arthur Mutambara, Minister of Youth Development, Indigenisation and Economic Empowerment Saviour Kasukuwere, Trade and Investment Promotion Minister Tapiwa Mashakada and Small Enterprises Development Minister Sithembiso Nyoni are among the Government’s representatives.
Key leaders in the business sector include Kingdom founder and director Nigel Chanakira, Nestle Zimbabwe chief executive Kumbirai Katsande and African Sun group chief executive Shingi Munyeza.
A number of top Zimbabwean corporate leaders from South Africa, Tunisia and other parts of the continent will join the Zimbabweans in a debate to improve African economies.
Debate on the future of Zimbabwe will centre on the foreign debt which currently stands at US$7,1 billion. Also to be discussed will be how the country can unlock its growth and developmental potential.
The debate comes at a time when the country is expecting a 9,3 percent growth rate this year, up from the 8,1 percent in 2010.
Rekindled investor interest, particularly in the mining sector, increased tourist activity, further recovery in the agricultural sector and a revamp of all sectors of the economy are expected to underpin the growth.
Leading debate on Zimbabwe will be Professor Mutambara, Ministers Kasukuwere, Mashakada and Nyoni on the Government side.
Industry will be represented by Dr Munyeza, ZB Holdings group chief executive Mr Elisha Mushaya-karara, deputy executive chairman of the Mail & Guardian South Africa, Trevor Ncube and Mr Chanakira.
International Monetary Fund director for Africa Department Antoinette Sayeh and chairman of West Group Zimbabwe form part of the panel.
The forum expects to come up with clear strategies on how Zimbabwe and the rest of the continent can claim their fair share of the global economy.
Africa has demonstrated greater than expected resilience through the global economic crisis. It has become one of the fastest growing regions in the world.
This has been driven by improved political and macro-economic stability, strengthening political commitment to private sector investments and better access to basic education and social services, says the World Economic Forum.
But the ongoing summit is expected to proffer solutions to translate Africa’s growth into inclusive and sustained development.
It has already been identified that much will hinge on the continent’s ability to craft innovative partnerships between business and civil society, and the empower-ment of small and medium-sized enterprises that continue to be the main providers of income across the continent.
Another major challenge to be tackled within the next three days is Africa’s increasing exposure to global risks, such as prolonged financial market instability, commodity price volatility and climate change.
Issues regarding how the continent can further attract global and regional investment, greater industrial diversification and innovation and the promotion of public-private sector partnerships, will also come under the spotlight.
The meeting ends tomorrow.
Online Reporter