WEF on Africa: South Africa is at a crossroads – Alibaba boss

WEF on Africa: South Africa is at a crossroads – Alibaba boss

CAPE TOWN – Brian Wong, vice-president of global initiatives at Alibaba Group in the People’s Republic of China and a Young Global Leader, told Business Report at the World Economic Forum (WEF) on Africa that the tech giant is of the view that Africa is currently at a crossroads.

On Tuesday, WEF launched the Africa Growth Platform to assist Africa's community of start-up enterprises to grow and compete in international markets.

According to WEF, the Africa Growth Platform will achieve this “in three ways with the first being to secure commitments from governments to implement policy reforms aimed at stimulating and accelerating business growth”.

In addition, “it also it aims to build a community of investors, whether private investors, foundations, multilateral institutions or corporate entrepreneurs to enable better coordination and pooling of resources that could facilitate larger subsequent rounds of funding”.

“The platform will create and sustain a community of start-up businesses themselves, promoting collaboration and sharing best practice,” said the organisation. 

Wong explained his position to Independent Media journalist Ayanda Mdluli at the Cape Town International Convention Centre.