Milken Institute Conference-Investor Led Development in Africa Panel with Dr. Kashala
Speakers: Amina Salum Ali, African Union Ambassador to the United States; Mauro De Lorenzo, Vice President, Freedom and Free Enterprise, John Templeton Foundation; Oscar Kashala, Chairman of the Board, Global Enterprise Services Corporation; Kola Masha, Managing Director, Doreo Partners; and Joe Sive, Chairman and CEO, African Investment Fund.
Is the developed world's system for providing aid to Africa working? In the 50 years since the end of colonialism, wealthy countries have contributed more than $2 trillion in official development assistance, yet so many African nations have failed to thrive. Much of the funding has been wasted, stolen or misused, often to keep corrupt autocrats in power. Systemic reform is overdue, but what's the best approach?
One emerging concept is to facilitate a much greater degree of coordination between investors seeking opportunities, host governments trying to attract private capital and international aid agencies seeking to ensure development aid is spent on projects that will achieve measurable results.
Does this approach increase the potential for success? Could it increase Africa's attractiveness to investors? Can the public interest be served while also improving potential returns for investors? This session explored concepts for improving the aid system.