CNBC Broadcast - 2009 EU-Africa Business Forum
For years, development assistance to Africa has been a key topic at global summits. Most recently during the G20 in Pittsburgh. But times have changed. As the global recession cast its shadow, aid has dipped. But Africa still boasts wealth in raw materials leading to record foreign direct investment in 2008. And its broadband infrastructure was recently boosted with the completion of a $650 million fiber optic cable. African stakeholders are increasingly working to awake “the sleeping giant” and the private sector role has become critical in driving change across the continent.