Preparing for World Economic Forum

By Pacharo Felix Munthali
From 10 to 12 June 2009, the numbers exceeding 600 of heads of governments from all pockets of Africa and other corners of the world will be converging in Cape Town, South Africa. The theme is obvious, the implications of the Global Economic Crisis for Africa.

The repercussions of the world economic crisis have been rather harsh. Many governments had thought that it would be confined to the Western countries. But as the economic upheaval continues to plunge more economies into levels unprecedented, many of them registering growths that are nearing negatives, nerve-shuddering fear continues to wreak havoc especially amongst African leaders, and other developing countries.

These countries have a reason to fear the invisible danger. Since the turn of the new millennium many developing countries have strived to turn around their economies. That coupled with debt cancellation, it as well meant that the monies that used to be channeled to debt paying were used for creation of favourable conditions for economic growth.

The news was even sweeter. There was a substantial reduction in natural disasters and uncertainties. This meant one thing. It meant popping up of even smooth treading platform in the walk towards attainment of economic prosperity. Malawi is such a good example of a lucky nation.

The country might have become a role model to the fellow African countries, but that to extent did not only rely on good economic formulae. To a considerable extent, there was lucky. The rains were just generous. Being a country with agriculture contributing over 70% of its GDP, the good climatic conditions were important. Luckily, all went on accordingly. That’s the country today can have that time of whistling its success, while other countries are scratching their heads in trouble.

The tiny Southern Africa country, wedged between Tanzania and Zambia sharing half of the upper boarder, and Mozambique, has seen its food security status becoming a world anthem. The economic growth at above 6% in three consecutive years.

Today the country is busy trying to find markets to its abundant produce. Unfortunately the markets are not in Malawi. Those that buy most of the commodities are buyers from the oversea. With the world economic crisis biting like never before, the gains that this tiny country and other nations had made are under threatened.

Everyone in one respect or another is little by little feeling the pinch. “Businesses are not going on smoothly,” laments a Kaunjika seller. “This is the worst year in my career.” He has been in the game for ten years, but as Ackim Shaibu is selling second clothes in Lilongwe, he sees the change.

The debates, on whether the world economic crisis would affect the country or not, are frequenting. Some think so. Others not. That’s how it is. In a society of today there can not be one answer.

Perhaps this is why there is this economic forum in South Africa. There are questions that will need to be answered. According to Media reports, the participants at the forum will focus on addressing the global and regional implications of the economic mayhem. After taking in some coffee and tea, the participants will sit down and develop a new “roadmap for Africa’s future.”

As Jacob Zuma will be hosting the 19th summit, all eyes will focus at the outcome. Malawi is a member of SADC. South Africa is now in recession. The Malawi nation pretty well knows that if South Africa is in economic crisis, it not only becomes South Africa’s crisis, but the whole SADC region’s problem.

This is time to chalk new chapter for betterment of the country.