SA to participate in WEF Africa summit

The three ministers are Trade Minister Rob Davies, Finance Minister Pravin Gordhan and Co-operative Governance Minister Lechesa Tsenoli.

Rob Davies. (Image: GCIS)

The summit, which will attract African political and business leaders, will discuss innovative structural reforms and investments that can help sustain the continent's growth, create jobs and prosperity for all.

The summit will be held from Wednesday until Friday in Abuja, Nigeria.

In a statement, President Zuma said Africa has remained at the centre of the country's foreign policy.

"We have also prioritised the promotion of regional economic integration, infrastructure development, intra-African trade and sustainable development in the continent."

He said the World Economic Forum was an important platform to take this agenda forward, especially as it enabled Africa to interact with the world to promote growth and development.

Pravin Gordhan. (Image: GCIS)

Minister Gordhan will lead the South African delegation to the summit in Abuja, which takes place against the backdrop of a much improved outlook for economic growth in sub-Saharan Africa.

In its most recent regional economic outlook, the International Monetary Fund (IMF) said economic growth in sub-Saharan Africa will pick up from 4.9% in 2013 to 5.5% this year -- an acceleration which the IMF ascribed to improved prospects in a large number of countries in the region.