Magazine article New African

Philanthropy in Africa Takes a New Direction: Last Month Saw the Launch of the African Philanthropy Forum in San Francisco. with the Rise of a New Class of Successful and Wealthy Business Leaders, Philanthropy Has Become an Important Talking Point across the Continent. What Role Can It Play, What Structure Should It Take, and Which Space Should It Occupy? New African Reports

Magazine article New African

Philanthropy in Africa Takes a New Direction: Last Month Saw the Launch of the African Philanthropy Forum in San Francisco. with the Rise of a New Class of Successful and Wealthy Business Leaders, Philanthropy Has Become an Important Talking Point across the Continent. What Role Can It Play, What Structure Should It Take, and Which Space Should It Occupy? New African Reports

Article excerpt

"Africans, we are setting our own development agenda." These were the words of renowned businessman and entrepreneur Tony Elumelu (see article on page 50), founder of the Tony Elltmelu Foundation, and one of the founding members of the African Philanthropy Forum (APF), which he calls a "platform that will align the collective efforts of Africans to transform the continent from within."

Jane Wales, who heads the US-based Global Philanthropy Forum (GPF), commented enthusiastically about the initiative and agreed the timing was opportune: "Today, 27 out of 30 of Africa's largest economies are experiencing extraordinary economic growth. This represents an enormous opportunity to advance the social good," she commented. "But that growth, while robust, is not always broad-based. And development, while rapid, is not always inclusive. And so poverty persists. These generous African men and women--many at the height of their careers--are determined to change this reality and ensure that the benefits of economic opportunity are more evenly shared."

Another one of Africa's most successful bankers, who through the transformation of banking in his home nation of Kenya has become a household name, James Mwangi, CEO and MD of the Equity Bank and chairman of the Equity Group Foundation, had this to add: "Africa has come of age and can now compete with the rest of the world. Just as our economic innovations offer inspiration for others outside of Africa, so now can our philanthropy."

"Africa has a deep-rooted culture of giving and mutual support but few formal philanthropic institutions," added Toyin Saraki, founder and president of the WellBeing Foundation Africa and APF member. "I used to think that the key missing ingredient was money. Strategic philanthropy requires getting to the heart of the problem. In the case of the health, education and rights of women, that starts with expectations--the expectations of women and of society more broadly.

"My hope is that emerging APF members will use all tools at their disposal to solve problems at their source."

Earlier, Reeta Roy, who heads the Mastercard Foundation, a global organisation operating in all six of the world's continents, had pointed out that such initiatives can work together to promote ethical leadership as well as create a benchmark and template for other emerging philanthropists throughout the continent. …

Search by... Author
Show... All Results Primary Sources Peer-reviewed

Oops!

An unknown error has occurred. Please click the button below to reload the page. If the problem persists, please try again in a little while.