Panel, Keynote, Fireside Chat, Other
Investing in African Prosperity
Milken InstituteTony Blair, Bill Gates, H.E. Paul Kagame, Strive Masiyiwa, Rhonda Zygocki, Michael Milken
- African nations aim to reach middle-income status by 2015, with 25 of 54 countries having already achieved or about to achieve this status.
- Chevron plans to direct $25 billion in capital spend toward the continent over the next generation, with 17 units of production expected from Africa, citing confidence in future economic growth.
- Energy investment ranges from $5 billion to $10 billion per project, with an increasing share flowing directly into African companies, while the continent is described as geologically underexplored with immense opportunity.
- The Extractive Industries Transparency Initiative has disclosed just under $1 trillion in government revenue to empower citizens of producing countries.
- Agricultural transformation is a key focus, with Ethiopia's Agricultural Transformation Agency increasing productivity by 30% to transform the country into a substantial grain exporter, while 14 crops require productivity investment beyond the "big three."
- Health interventions include the Rotavirus vaccine, currently available in 60% of Africa and projected to reach 100% in two years, alongside infant mortality rates dropping from 20% to 10%.
- A new polio eradication campaign is expected to cost $5.5 billion over six years, funded 40% by philanthropy and 60% by governments, potentially saving over one million lives in Nigeria and being the only disease eradicated since the late 1970s besides smallpox.
- Mobile money services in Zimbabwe are growing at 10% compounded monthly, with Strive Masiyiwa predicting schools will use tablets and cell phones for curricula in less than five years.
- Chevron reports completing nine years in Angola and 12 years in Nigeria without reported mother-to-child HIV transmission among its workforce, with plans to leverage a $50 million commitment to reach $100 million with 17 partners.
- Governance is described as remarkably improving, with only five or six countries lacking regular elections, and nations transitioning from donor-recipient relationships to self-reliant partnerships.
- Private sector investors are urged to enter infrastructure, energy, and health sectors, with Africa described as a superior investment choice compared to regions like Russia.
- Challenges include malnutrition and cerebral malaria affecting brain development for three children for every one child who dies, with infant mortality remaining 20 times higher than in rich countries.
- Investing in health through aid and philanthropy is deemed necessary for diseases lacking market signals, with a clear formula identified as highly catalytic.
- The shift in mindset toward self-reliance is noted as significant, particularly in Rwanda, where collective desire following tragedy forms a foundation for future work.
- Strive Masiyiwa predicts mobile money will expand into healthcare, transport, and education as networks become mediation centers, while noting 70% of African food is produced by women farmers.
- Nigeria is identified as a superior investment choice compared to Russia, with mobile money growth and governance improvements driving confidence.
- Chevron's capital spend and production focus on Africa reflects a belief that investing in the continent is good for business, people, and the global economy.
- Infrastructure, energy, and private sector investment are seen as increasing to resolve power and transport issues, with real opportunities for private sector investors to create lasting prosperity.
- Opportunities for change in health, wellness, and agriculture are significant for investors, with dramatic year-by-year progress observed in nations like Rwanda and Ethiopia.
- A campaign to eradicate polio is anticipated to save over a million lives in Nigeria, following India's success with no reported cases for two and a half years.
- The panelist predicts significant economic growth linked to health, wellness, and agriculture, emphasizing that the quality of young leadership in politics and business is remarkable.
- Strive Masiyiwa intends to educate kids and empower communities, noting that mobile money services will expand into various sectors as networks mature.
- Chevron expects to continue operations in Angola and Nigeria with a strong safety record regarding HIV transmission, while expanding their commitment in the Niger Delta through partnerships.
- The panelist highlights that the initial gap in high-impact health interventions represented a huge opportunity rather than a lack of solutions.
- Improving health outcomes is expected to reduce population growth as parents choose to have fewer children when children are healthy.
- The "formula" for investing in health is clear, with aid and philanthropy playing a full-time role to fund research for diseases lacking market signals.
- Chevron's future prospects are viewed with higher confidence than at any previous time, driven by real economic growth in the continent.
- The goal involves establishing basic infrastructure, private sector investment, and the right rules to ensure governments can execute programs effectively.
- Strive Masiyiwa predicts that African schools will adopt digital tools faster than developed nations, with mobile money growth indicating rapid technological adoption.
- Paul Kagame believes that building capacity and mobilizing people to face challenges will attract sustainable support and resolve infrastructure issues.
- Bill Gates notes that eliminating polio will be a historic achievement, joining smallpox as the only diseases eradicated since the late 1970s.
- Chevron's investment strategy focuses on the continent's immense geological opportunity, with energy investments ranging from $5 billion to $10 billion.
- The panelist asserts that supporting African nations on above-ground and below-ground fronts benefits business, people, and the global economy.
- Tony Blair highlights the shift from donor-recipient dynamics to partnerships, emphasizing the remarkable quality of emerging leadership.
- Strive Masiyiwa predicts that mobile money will expand into healthcare, transport, and education, potentially making Africa a superior investment choice compared to Russia.
- Chevron plans to leverage a $50 million commitment with partners to reach $100 million in the Niger Delta, having completed over a decade of operations in Angola and Nigeria without reported mother-to-child HIV transmission.
- The panelist notes that 25 out of 54 African countries have achieved or are about to achieve middle-income status, aiming for this by 2015.
- Health outcomes are improving, with infant mortality rates dropping from 20% to 10%, though they remain 20 times higher than in rich countries.
- Bill Gates states that a new polio eradication campaign will take six years and $5.5 billion, with 40% from philanthropy and 60% from governments.
- Chevron expects to complete nine years in Angola and 12 years in Nigeria without reported mother-to-child HIV transmission, planning to expand their Niger Delta commitment to $100 million.
- Strive Masiyiwa predicts mobile money will grow into healthcare, transport, and education, with Zimbabwe's service growing at 10% compounded monthly.
- Paul Kagame urges investors to capitalize on the real opportunities in infrastructure and energy, describing the environment as fascinating and rewarding.
- The panelist notes that 25 billion of Chevron's capital spend will go to the continent over the next generation, with 17 units of production coming from Africa.
- Bill Gates highlights that for every child who dies, three others fail to develop their brain due to malnutrition or cerebral malaria.
- Strive Masiyiwa predicts African schools will use tablets and cell phones for curriculum in less than five years.
- The Extractive Industries Transparency Initiative has disclosed just under a trillion dollars in government revenue to empower citizens.
- Chevron is more confident about future prospects and real economic growth in Africa than at any previous time.
- Bill Gates notes that India has not had a polio case for two and a half years, predicting polio will be the only disease eradicated since the late 1970s besides smallpox.
- The panelist predicts that infrastructure, private sector investment, and the right rules are needed to ensure governments can get it done.
- Strive Masiyiwa observes that governance in Africa is remarkable, with only five or six countries not holding regular elections.
- Paul Kagame believes the tragedy in Rwanda has a silver lining where a collective desire to do better forms the foundation for future work.
- The panelist predicts that mobile money services will expand into healthcare, transport, and education as networks become mediation centers.
- Chevron expects to complete nine years in Angola and 12 years in Nigeria without reported mother-to-child HIV transmission, planning to expand their Niger Delta commitment to $100 million.
- Bill Gates states that a new polio eradication campaign will take six years and $5.5 billion, with 40% from philanthropy and 60% from governments.
- Strive Masiyiwa predicts that African schools will use tablets and cell phones for curriculum in less than five years.
- The panelist notes that 25 billion of Chevron's capital spend will go to the continent over the next generation, with 17 units of production coming from Africa.
- Bill Gates highlights that for every child who dies, three others fail to develop their brain due to malnutrition or cerebral malaria.
- Strive Masiyiwa predicts mobile money will grow into healthcare, transport, and education, with Zimbabwe's service growing at 10% compounded monthly.
- Paul Kagame urges investors to capitalize on the real opportunities in infrastructure and energy, describing the environment as fascinating and rewarding.
- The panelist predicts that infrastructure, private sector investment, and the right rules are needed to ensure governments can get it done.
- Strive Masiyiwa observes that governance in Africa is remarkable, with only five or six countries not holding regular elections.
- Paul Kagame believes the tragedy in Rwanda has a silver lining where a collective desire to do better forms the foundation for future work.
- The panelist predicts that mobile money services will expand into healthcare, transport, and education as networks become mediation centers.