For years, I’ve been a silent observer of the World Economic Forum (WEF), reading about it on the internet, editing reams of copy on it or watching it on TV. But one question has always remained in my mind. What drives thousands of people each year to a small alpine town in Switzerland to live out Professor Klaus Schwab’s dream, who founded the forum in 1971?
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After traveling almost 13,000 kilometers from the tip of Africa to Davos, a semblance of an answer began to emerge.
The answer was not to be found in the sub-zero temperatures that left the entire body numb with cold nor in Responsive and Responsible Leadership, the theme driving the WEF Annual Meeting 2017. Instead it was to be found in the Congress Centre, or on the streets and hotels of Davos-Klosters.
It was to be found among the people – the 3,000 delegates that gathered for the event and the thousands of support staff.
The draw card – the opportunity to mingle and be seen with the most influential and powerful people in the world. Christine Lagarde, Managing Director of the International Monetary Fund, crossed my path several times at Davos. Mauritius President Dr Ameenah Gurib-Fakim, after sharing her plans for attracting investors to her country on a cold winter’s night, agreed to a photo with me.
Singer and songwriter Shakira shared her passion for early child development advising us that “today’s babies will drive tomorrow’s business. Their capacity to contribute will shape tomorrow’s societies, will solve tomorrow’s problems”.
Anne-Sophie Mutter, one of the world’s most famous violinists, entertained the crowds. Ngozi Okonjo-Iweala, former Finance Minister of Nigeria and Board Chair of Gavi, the Vaccine Alliance, discussed plans to immunize up to 300 million more children all over the world by 2020.
The allure of Davos is that it gives delegates a platform to discuss the most pressing issues of our time, such as the refugee crisis, climate change and can-women-have-it-all?
It offers an arena to do business deals with the richest, to form new contacts and exchange business cards. It provides purveyors a glimpse into where the world stands, shifts in geopolitics and the ironies and contradictions of the world. It allows those present to see who controls the vast majority of wealth and intellectual capital and how this has changed.
WEF 2017 was a world in which the largest bankers, infamous for the financial crisis, such as JP Morgan and Goldman Sachs, could be heard offering their views on Trump making America and stock markets great again, while Ugandan-born Winnie Byanyima, Executive Director at Oxfam, was decrying that eight men own the same wealth as the 3.6 billion people who make up the poorest half of humanity, according to a new report published by the agency.
It was an arena that brought into stark contrast the plight of Africa, and the developed world when simultaneously it hosted a panel discussion with CNBC Africa on Powering Africa, while meters away, some of the leading minds in technology were debating what role artificial intelligence should play in our futures; and that the 48 countries that make up sub-Saharan Africa generate almost the same amount of electricity as Spain.
Davos 2017 was a gathering where UK’s Prime Minister Theresa May declared that Britain’s decision to leave the European Union was not a rejection of its friends in Europe but simply a vote to restore its “parliamentary democracy and national self-determination. A vote to take control and make decisions for ourselves”. Juxtapose this with Xi Jinping’s attendance. Jinping, the first Chinese president to attend WEF, led the country’s largest-ever delegation to the ski-resort town to make a statement that China wants to assume a global leadership role as the world struggles with isolationism, populism and polarization. In a speech at the event, he stated: “It is true that economic globalization has created new problems, but this is no justification to write economic globalization off completely. Rather, we should adapt to and guide economic globalization, cushion its negative impact, and deliver its benefits to all countries and all nations.”
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– Vanek is news editor of CNBC Africa and CNBCAfrica.com; she lives and breathes business and financial news, and is now slowly developing a passion for artificial intelligence.

Why The Richest And Most Powerful Go To Davos

Cold. Expensive. Concerning. These words have been the top three words I have used to describe our most recent visit to the 47th edition of the World Economic Forum in Davos, Switzerland.
The beautiful snow laden ski-town, nestled in the Alps, played host to over 2,500 delegates from across the globe. Present were heads of state, political leaders, business executives, members of civil society and the like, who braved sub-zero temperatures to explore the theme for this year – the 4th Industrial Revolution and its impact on economies.
But this year, the conversation on robotics and artificial intelligence was over-shadowed by a myriad of concerns – the global market environment and its negative impact on the “Africa rising narrative” and of course the minimal attendance of women at the meeting.
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Where are the women?
Over the last few decades, the participation of women at the forum has improved, albeit at a slow pace. This year, only 18% of contributors were women, a slight improvement from the 17% attendees in 2015. But are our voices being heard? Yes. Several panel discussions and side events were held at the meeting to truly understand the economic impact of empowering the fairer sex.
Bea Perez, Global Chief Sustainability officer at Coca-Cola, reminded us why corporates like the soft drink manufacturer continue their focus and investment in women.
“We know women drive the economy. When they participate, they also give 96 cents of the dollar they earn back to strengthen their communities,” said Perez.
Also in attendance at the forum was a woman who holds the purse strings to Africa’s largest economy – Kemi Adeosun, Nigeria’s Finance Minister. So too, was Mary Barra, the CEO of General Motors.
They join Davos veterans Sheryl Sandberg, Facebook’s Chief Operating Officer, and Christine Lagarde, IMF head, among over 500 outstanding female leaders from every part of public life.
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Global market concerns
The global market environment got off to a rickety start in 2016. The world’s attention remains fixed on the change in growth models in China – away from infrastructure to a consumption-led economy, the United States, which has managed to show signs of marginal strength in its economy and begun to raise interest rates in December 2015, and the commodity price cycle. With the price of oil at 12-year lows and the prices of base metal commodities like gold, platinum, iron ore and copper significantly weaker, emerging markets are bearing the brunt of these pressures.
Such pressure was evidently felt in our exchange rate. With one Swiss Franc (CHF) at R16.74 at the time of our visit, a simple meal of a burger and coke set me back CHF21.50 or around R370 – enough money to provide a meal for a family of four back home.
Despite the market volatility, Oscar Onyema, CEO of the Nigerian Stock Exchange, remains confident that Africa plays home to equity markets which continue to see interest from investors, regardless of the global market conditions. “We just have to ride the cycles,” he said.
These sentiments were echoed by Nicky Newton-King, CEO of the Johannesburg Stock Exchange.
“We have got to understand that there is a new normal out there, low growth in an uncertain global world, good investment opportunities will come, but we still have a chance to compete with our global peers,” said Newton-King.
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Give us hope!
With all the negative sentiment, one would think this would deter investors. While the leaders of these global companies continue to monitor the headlines, they are concerned but not discouraged by the current economic cycle.
“I think it depends really on your time profile for your investments, I think there’s a growing interest from people who have a five to ten year view of what they want to be investing in to actually go to Africa,” said Geoffrey White, CEO of Agility Africa.
“We are long-term investors, with our roots in Africa – South Africa to be exact. Despite the challenges at a macro level, we see the needs of the consumer and we are providing them with the service, we will roll out capital prudently,” added Ralph Mupita, CEO of Old Mutual Emerging Markets.
While the challenges are clear, Africa is still on the agenda.
And, perhaps, as the conversation continues to evolve and the participation of women increases, the message about our continent from Davos will be warm, inclusive and exciting.
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– The writer is a financial journalist and senior anchor with CNBC Africa.

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Is The Africa Rising Story In Jeopardy?

South Africa’s favorite adventurous son, Mike Horn, regarded by many as the world’s greatest modern day explorer, was seduced by Switzerland while hitchhiking his way to Israel. It was the snow that won him over, before he’d even reached the sand of the Middle Eastern country.
While my first memory of hitchhiking in Switzerland is sharing a flagon of cheap wine at a small table in a very clean youth hostel with a young Tunisian and no dictionary, Horn immediately saw opportunity. Granted, he was considerably older than my then student self, but it speaks to his strategic contemporary self that he identified what he needed.
“It’s a safe and sure country to leave my family when I go out exploring; it has four seasons that allows me to practice all outdoor activities. It has some of the most diversified natural elements; it’s neutral and easy to travel to and from,” says Horn.
Lausanne is the Olympic capital of Switzerland, a treat for any serious sport and outdoors enthusiast. But Horn has a particularly African take on what works for him in this historical and wealthy city.
“What I love the most living in an expensive country is that everything works, it’s clean and everyone is always on time. You pay for what you get.”
Horn is an established brand in the extreme adventure environment. His website details journeys to places like the Arctic Circle, the Amazon River and various Himalayan peaks. All will challenge your body and mind. From the outside, it’s a bit like a 12-year-old’s adventure book.
“To be able to play the lead role in your dream and live it in reality makes me a privileged man. I have never started anything in life thinking I will fail. And that is how little boys dream. As we grow older we lose our dreams, but as I have grown older I kept my dreams young.”
Follow the road of Mike Horn’s history and you will arrive at his career destination, to which he must feel he was born – teaching others how to respect their environment.
Through his four-year conservation-education platform Pangaea, started in 2008, Mike and his team found enthusiastic youngsters, between the ages of 15 and 20, who he then groomed as environmental ambassadors in their respective countries. He did this through expeditions to places most only dream of; Antarctica, New Zealand, Malaysia and India among them.
On the various expeditions, the selected youngsters were given the opportunity to experience, explore and interpret different climates and surfaces.
“We must begin to take real steps towards ensuring that our planet can be respected and appreciated by all future generations…” says Horn.
These words are increasingly relevant, as the promises and targets emerging from endless conferences do more for the conference industry than the health of the planet.
This gives Horn a reason to try educate as many as he can.
His website speaks of over 200,000 miles and multiple circumnavigations being covered in pursuit of Pangaea’s goals, with more voyages in the pipeline. All of which will cost a lot of money. He says he’s in the right place to access these funds, with some of the world’s best-known brands close at hand.
“With Geneva next door, France on the other side of the lake and Italy a short drive away, we have access to the watch industry, banking, nutrition and technology and amazing universities,” he says.
But Horn stresses that such sponsors don’t give their money away easily. Even as a  Laureus World Sports Academy member, he had to do a little convincing.
“I have been very fortunate because when I proposed my projects to my sponsors they liked the idea. Credibility and authenticity is very important. Do not promise what you cannot do!”
And so they rolled in. Mercedes Benz, Panerai, Nespresso, Geberit, Mumm champagne, Scott Sports and Petzl, according to Horn all see value in his experience and knowledge.
“They are definitely your biggest investment.”
The link between the man and his sponsors is more obvious with some than others.
“For a watch company I’m a living test lab. Making timepieces that I use as navigational instruments and that I test for long periods of time in the field at extreme temperatures and altitudes makes it a unique and authentic test lab. Once the watch has survived the expedition, Panerai makes a limited special edition timepiece with my signature. Mercedes Benz use me for internal and external communication.”
Mike says while it’s difficult to measure the return on their respective investments, he has adopted a personal solution to determining the value clients get from his association with them.
“If you always do what you promise to do for them, and are willing to give more than they ask, reinventing yourself with new projects, I think it is worth it for them.”
This Johannesburg-born adventurer’s next expedition is Pole to Pole, another first in the adventure world. Horn will make solo journeys to both the North and South Poles, crossing the Arctic and Antarctica on foot and by skis.
When crossing the Pacific and Atlantic Ocean, he will be on board his sailing vessel Pangea.
As with most of his missions, Horn won’t have support; although for much of the time there will be people in the vicinity, as a camera-crew will be shooting for international film producer Goldcrest, which is producing a series on the adventure.
He aims to complete Pole to Pole within a year.
Beyond the physical endurance required for this latest venture – which he is preparing for by cycling, climbing and dragging car tyres around Swiss mountains – it requires significant effort to put these expeditions together.
“There are a lot of sacrifices you have to be prepared to make… sacrifices with family because (I am) often away from home, friends you don’t often see, and very little free time.”
Indeed, Horn suffered a tragedy when his wife, New Zealander Cathy, passed away shortly before we conducted this interview.
“I find myself with a massive gap to fill in my private and business life… Cathy was the rock and pillar of everything I ever achieved”.
Almost as if she had planned it, Cathy prepared their teenage daughters to help with the business while they were studying; a seamless transition doubling up as a comforting distraction for this hard-travelling man.
“They know the brand best,” he says, hardly surprising considering that he took them to the North Pole when they were barely in their teens.
And so the business of Mike Horn continues where it makes sense, in Switzerland. It couldn’t have happened anywhere else.

‘I’ve Never Started Anything Thinking I Will Fail

The World Economic Forum (WEF) is the gold standard for every financial journalist. A long-haul flight from Johannesburg to Zurich and a short trainride later, we arrived in Davos, Switzerland, to the world’s biggest summit, ready to wire the views of influential business leaders to the world.
The big players of the global economy – from the deal-makers to the political powerhouses and movers and shakers – arrived in their smart suits to the summit’s alpine reaches, to discuss this year’s theme, A New Global Context. Here are some of the key takeaways from the Davos debates:
The European Central Bank’s bold announcement to pump in €60 billion in bonds every month to reignite growth took center stage. The world was officially in a new phase of global monetary policy divergence. The withdrawal of stimulus in the United States as the economy staggered back to its feet and this new development in Europe created interesting times for emerging markets.
In all our conversations with African leaders, what emerged was that despite the Ebola outbreak and terror attacks in some parts of the continent, Africa should still be every investor’s high-growth high-return destination. In fact, with the exception of the President of Guinea, African leaders dismissed both crises as inconsequential to Africa’s growth narrative. Displaying genius, the President of Guinea used his interview to bring the world in on the request he had made to Christine Lagarde, President of the International Monetary Fund: “Clear our debt so that we may have a fighting chance against Ebola.”
The small delegation from Nigeria, the continent’s biggest economy, did not go unnoticed. With an upcoming presidential election (mid-February), and in the midst of a tense domestic environment, this was somewhat understandable. What the forum lacked in Nigeria’s presence, South Africa more than made up for with a seven-member strong ministerial delegation. They were easily spotted in their long black coats and colorful flag-scarves. From the Finance Minister to the Governor of the Reserve Bank, the delegation put on a brave front tackling the energy crisis and lackluster take-off of the National Development Plan. The country’s public relations machine was spot on and it was evident members had clearly been put through their paces.
I couldn’t help but acknowledge that some of the delegates in attendance at Davos challenged my conventional definition of ‘world leaders’.
Also present were titans from the music world – from the legendary Andrea Bocelli to African songstress Angelique Kidjo and world-renowned hip hop producer Pharrel Williams. It was clear they were being recognized for their pulling power at such a forum.
Kidjo is credited with putting the African country of Benin on the map.
“If we want Africa to be top of mind for the world leaders here, Africans need to make Africa their priority,” she told me. Her passion for Africa’s development agenda pushed me to stretch my own perception of what leadership really is.
The small representation of women was difficult to ignore. One of this year’s co-chairs was Winfred Binyama, Executive Director, Oxfam. In an unapologetic, straight-talking style, she spoke about the world’s continued exclusion of women in positions of influence and power.
Binyama shared some of the highlights of Oxfam’s latest report saying it would take 80 years for women to balance the scales professionally with their male counterparts without the intervention of platforms like WEF.
I hope to return to Davos many more times. One can surely track at least this one indicator over a few years, but I certainly hope it’s not 80 years before we see that happening.

EBOLA. TERRORISM. SO WHAT? COME TO AFRICA

“Prepare to get cold. Very cold. Take your worst experience in the cold and multiply that by 10!” This is how my colleagues at CNBC Africa briefed me on what would be my first visit to the small ski town of Davos in Switzerland to attend the 44th World Economic Forum (WEF).
After that advice, it’s only natural that I prepared for the worst. It resulted in two suitcases being packed with winter thermal goodies. In hindsight, I should have skipped the extra suitcase as it added logistical stress, but my biceps got a lot firmer.
While preparing for the trip, many questions filled my mind—who to speak to, how to address the global agenda, would I ask the right questions if I were to speak to Christine Lagarde, or better yet, Klaus Schwab, the founder and executive chairman of WEF. In response to the anxiety, the journalist in me searched the internet for archived pieces on previous forums, in preparation for future interviews.
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And then came the moment of bidding farewell to family, friends and the South African summer as I, together with my colleagues, prepared to brave the sub-zero temperatures in Davos for a week.
After a little more than 10 hours in the air, we touched down at Zurich Airport, where we would catch three trains in two-and-a-half hours to reach Davos.
So, after hauling my suitcases on and off the trains, I was hot, flustered, hungry and most of all mesmerized. Mesmerized by the beauty of the Swiss Alps. The mountain tops were reminiscent of soft cocoa peaks that had been drizzled in a thick layer of pure white icing sugar. Trust me to compare such a wonderful sight to food. After more than 12 hours in transit, hunger pangs were tormenting my stomach.
This tiny ski town was about to host around 2,500 delegates comprising business leaders, politicians, academia and media from across the globe.
The theme for this year’s forum was ‘Reshaping the world: consequences for business, politics and society’. It’s a broad theme that leaves you questioning where to begin and where to end?
Africa began by reshaping its image and its level of participation. Most WEF delegates are familiar with the multi-colored scarf, representing the South African flag, being adorned by both South African and international representatives, however, this year, green and white scarfs were the order of the day. The Nigerian delegation made a bold and clear statement by pronouncing their presence at WEF through this accessory that kept the cold at bay. Whatever their objective was, it worked as the world and its African peers sat up and paid attention to the West African state that will play host to the World Economic Forum On Africa in May this year. Following nations like Tanzania, Ethiopia and South Africa, Nigeria’s capital city of Abuja will welcome the 24th annual forum that will seek to find African solutions to African challenges. Coupled with the strong attendance of Nigerian delegates was that of fellow African leaders as a whole. Tanzanian president Jakaya Kikwete, Ghanaian president John Mahama and Guinean president Alpha Condé were just a few that made their voices heard.
With Africa making up roughly 4% of the world’s economic activity, 15% of the global population and 20% of the world’s land mass, it was evident that it is no longer a continent looking for aid, but rather trade.
“Africa is very much on the agenda, (it’s) on the minds of policy makers and corporate leaders,” said Christine Lagarde, the managing director of the International Monetary Fund.
After a recent visit to Kenya and Malawi, Lagarde noted that strong economic growth is projected for the continent going forward, especially sub-Saharan Africa.
Key concerns on the African agenda include boosting investment on the continent for the mutual gain of all other African markets; fighting security threats such as the Nigerian terrorist group, Boko Haram; and most of all, stimulating inter-African trade.
Bisi Onasanya, the CEO of First Bank of Nigeria, echoed these sentiments.
“I believe businesses need to pay attention to Nigeria and Africa, if they want to move away from saturated developed markets, the yields in this part of the world are a lot more superior to what you get in other parts of the world and sometimes I think the risks are overhyped to the extent that we scare away some of those investors.”
Onasanya also alluded to the unity that was displayed by both African government and business leaders in Davos, which is not always a common sight.
“Aliko (Dangote) is here, President (Goodluck) Jonathan is here… we are telling the world that we are here and ready to do business.”
Trade with no limits is thought to be the new solution to working towards economic inclusion for all African states and dispelling the stereotypes that we have regarding our peers on the continent. Trade between African nations currently stands at 11% of total trade, compared to Europe&#8217;s level of around 70%.
Peter Staude, the CEO of Tongaat Hulett, however, cautioned that we need to highlight what products can be used for trade.
“Inter-African trade is needed, however we need to ensure that there is no duplication of goods,” said Staude.
Condé is also an African optimist. He too called for more co-operation and assistance to take place between African leaders to bolster economic growth. My interview with him was a slightly tense moment as he had an entourage of at least 20 people, all asking French questions. Who were we? Where were we from? What is the interview about and when would they see it? After recognizing that our team was based in South Africa, Conde smiled and said: ‘Ah Mandela… good friend of mine. And Miriam. Miriam Makeba, good friend of Guinea.”
This light moment brought about some relief from the cold, the Guinean crowd and the French conversation.
Slowly but surely, Africa is making progress. Some states are even learning from each other. Ghana has made oil companies provide transparency around their dealings with government, with the likes of Nigeria, Angola and Uganda potentially following suit.
With Africa’s population geared to reach two billion by 2050, government and business is eager to drive for economic inclusion by creating the right business platforms and addressing infrastructural and educational backlogs, which in the long term will address the issue of youth unemployment.
As a first timer at the event, I was amazed at the united front that was exhibited by African business and government leaders. My only question is: How united are we when the conversations die down and the real work begins and we are faced with the realities of our unique every day African struggles?
Despite the challenges, I am forever a believer in the rise of Africa. The African economic outlook is also optimistic with a projected growth of 5.3%.
While on the icy slopes of Davos, I learnt something: the power of association. It’s the reason why WEF attracts so many delegates each year. It’s also the reason why Africa was so prominent on the agenda this year. Only by having relations can we engage. Only by engaging can we work together to finding solutions to the challenges Africa faces.

Tag: Switzerland

FORBES AFRICA SOCIAL MEDIA

Why The Richest And Most Powerful Go To Davos

Is The Africa Rising Story In Jeopardy?

‘I’ve Never Started Anything Thinking I Will Fail

EBOLA. TERRORISM. SO WHAT? COME TO AFRICA

Africa In The Alps