The vast potential of Africa is unfolding – Masire-Mwamba

Australia’s relationship with Africa is symbolic of the collaboration and co-operation between member countries in the Commonwealth, Deputy Secretary-General Mmasekgoa Masire-Mwamba told business leaders in Perth this week.

In her address to the Western Australia branch of the Australia Africa Business Council, Mrs Masire-Mwamba said: “Trade and investment are important vehicles, which also give effect to our shared values of democracy, human rights and good governance, amongst others.

“To the Commonwealth, Africa brings a rich diversity of cultures and experiences. Resources, access to markets, profit margins, assurances and support for the global agenda.”

She said that 2010 had been a momentous year for the continent, with 17 countries celebrating their 50th anniversary milestone, and the year in which Africa had hosted the World Cup for the first time ever.

“It is befitting for the Commonwealth to reflect on its engagement with the continent, and to see how best to deepen its contribution towards Africa’s growth and economic prosperity over the next 50 years.”

Western Australia has a strong mining sector, which in 2009-10 accounted for 27.5 per cent of gross state product. During the same period, its economy grew by 4.3 per cent, and unlike most developed economies, it has largely escaped the economic contractions of the global financial crisis.

The state’s well-established business ties with African countries -- which represent over a third of Commonwealth membership -- continue to grow.

In her speech, the Deputy Secretary-General noted the economic opportunities in Africa, with a labour force growing at 4 per cent a year and a vast market of almost 500 million potential consumers.

And she highlighted the role of the Commonwealth in promoting political stability – a decisive factor in luring investors to the continent: “Here the Commonwealth walks alongside Africa on the journey of democracy – mediating tensions, building and reinforcing institutions and promoting the Commonwealth’s Latimer House Principles on the separation of powers.”

Mrs Masire-Mwamba was in Perth to meet organisers of the biennial Commonwealth Heads of Government Meeting (CHOGM) which will be hosted by the city in October 2011.

“The Commonwealth family is looking forward to CHOGM in Perth next October, and we are delighted and impressed by the level of commitment and high standard of preparedness that is already in place ahead of this major event,” she told delegates.

Key Links:

• Country Profile: Australia

Related News:

• CHOGM 2011 Official Website