Ngozi Okonjo-Iweala: How Africa can keep rising
Ngozi Okonjo-Iweala - Economist
Ngozi Okonjo-Iweala is a respected global economist. Full bio
is being challenged.
I spoke about an Africa,
that you normally hear about
as the narrative of the rising Africa.
about this rising Africa.
through many trials and tribulations.
the technology hub, or a technology hub
and hilly terrain,
to deliver services to people.
it's going to try using drones
vaccines and blood
a company called Zipline,
a global vaccine alliance.
we want to see in the rising Africa.
have seen or will remember.
suffer drought and floods,
because of climate change effects.
for international appeals to raise money.
with flies on their faces,
32 countries, came together
called the African Risk Capacity.
is to pay insurance each year,
of their own resources,
a difficult drought situation or flood,
to take care of their populations,
last year paid 26 million dollars
of 1.3 million people affected by drought.
feed children in school
instead of migrating out of the area.
to take responsibility for itself,
for its own problems.
been doing well in the last two years.
at five percent per annum
was three percent. Why?
commodity prices have fallen.
are still commodity driven,
performance has slipped.
doesn't make it any easier.
that would cause global uncertainty
that the African countries did right?
and learn lessons
that I think we did right.
our economies better.
when Africa was not doing well,
an "Economist" cover
the macroeconomic environment better,
below three percent of GDP,
to invest in these economies.
of African countries was 130 percent,
to invest in their development
who worked to support African countries
and bilaterals came together
Poor Countries Initiative
fall down to about 30 percent,
to try and reinvest.
they were making losses.
less of a burden on government.
was a very interesting thing.
mobile lines on the continent.
with some mobile technology
of mobile money --
have heard about --
to notice that Africa was ahead
is also providing a platform
for cards for their telephone.
something that went right.
in education and health, not enough,
in the last one and a half decades.
that conflicts decreased.
on the continent.
even managed to dampen some coups.
and I'll refer to those later.
some differentiation on the continent
the doom and gloom is here,
Côte d'Ivoire, Kenya, Ethiopia,
relatively well at the moment.
more things wrong than right.
we didn't create enough jobs.
is about 15 percent,
the quality of growth was not good enough.
were low-productivity jobs,
from low-productivity agriculture
and working in the informal sector
is that inequality increased.
75 million people on the continent.
that's the fourth thing -- did decrease,
because of population growth.
of a dialogue about on the continent.
to get a handle on it,
on this particular issue.
enough in infrastructure.
but it's not enough.
in Africa on the continent
is equivalent to Spain.
is equivalent to that of Spain.
Development Bank said recently,
retain the same structure
has not changed very much.
It's exporting jobs.
is only 11 percent.
decent manufacturing jobs for our youth,
is among ourselves.
and I think this gives way for corruption.
yet gotten a good enough handle on,
in the way we manage our economies
in my country, Nigeria,
with international partners,
to fight this together.
we want for a rising Africa.
in many countries are broken.
needed for the future.
to educate better.
that we are not doing right.
is to learn to manage success.
or countries succeed,
is vital for us.
keep doing it right.
creating stability is vital,
and policy consistency.
policies that were there before.
for people, for households,
the success we had in reducing our debt,
are back to borrowing again,
beginning to creep up,
so we have to avoid that.
is focusing with a laser beam
they have to invest in this,
the best they can to do that.
engage our young people.
in the morning and feel ready to go.
the genius of our young people,
support them to create and innovate
in the right direction.
that girls and women are a gift.
contribute to the continent.
that when we do all of these things,
if we unleash our youth,
in the audience,
is not for tomorrow,
it's a longer term thing.
emerging opportunities in the world.
corruption in your talk,
as a strong anticorruption fighter.
and your mother was kidnapped.
It's been very difficult.
the issue of the kidnap of my mother.
is that when you fight corruption,
of people who are stealing money,
is when they try to intimidate you,
to stay on and fight back?
with the teams I worked with
the heritage of the future.
we continued to make that point.
nobody is going to fight corruption
that comes with consequences,
for giving us a voice
for your great talk and important work.
About the speaker:Ngozi Okonjo-Iweala - Economist
Ngozi Okonjo-Iweala is a respected global economist.
Why you should listen
Okonjo-Iweala was the Finance Minister of Nigeria, Africa’s largest economy, from 2003 to 2006, and then briefly the country’s Foreign Affairs Minister, the first woman to hold either position. From 2011 to 2015 she was again named Minister of Finance and Coordinating Minister for the Economy of Nigeria. Between those terms, from 2007 to 2011, she was one of the managing director of the World Bank and a candidate to the organization’s presidency. She is now a senior advisor at financial advisory and asset management firm Lazard, and she chairs the Board of the Global Alliance for Vaccines and Immunization. At the World Bank, she worked for change in Africa and assistance for low-income countries. As Finance Minister, she attacked corruption to make Nigeria more transparent and desirable for investment and jobs, an activism that attracted criticism from circles opposed to reform.
Ngozi Okonjo-Iweala | Speaker | TED.com