2010 FIFA World Cup kick-starts investment

Cape Town, South Africa 11 June 2009 – Exactly one year before the kick-off of the World Cup, participants at the World Economic Forum on Africa 2009 discussed the legacy of the 2010 FIFA World Cup.

The legacy of the 2010 FIFA World Cup will resonate not only within South Africa, but also across the continent thanks to unprecedented levels of infrastructure investment. South Africa is also one of the most prepared countries ever to hold the event, based on independent assessments at both the bid and preparation stages, according to Daniel Alexander Jordaan. Chief Executive Officer, 2010 FIFA World Cup Organising Committee, South Africa.

“The best intergovernmental cooperation is on this project more than any other,” said Helen Zille, Premier of the Western Cape Province, South Africa. She also praised the involvement between city, provincial and national institutions.

Kgalema Petrus Motlanthe, Deputy President of South Africa, felt that South Africa had amply proven its capability of hosting major international events successfully, pointing to the world cup events in rugby and cricket.

“We couldn’t ask for a better time for this investment. Barack Obama talks about being shovel ready. We’re already shovelling, said Michael Jordaan, Chief Executive Officer, First National Bank of Southern Africa (FNB), South Africa. He cautioned about inflated job creation predictions, but hastened to add that FNB was very pleased to invest in this event because the World Cup has an enormous potential to create a lasting environment in which further investment can take place.

Jane Carter, Director, Coaching for Hope, United Kingdom, said that investment in sporting events could have a major impact on education. Zille expressed concern that the country might not be able to build on these investments unless education attracted a similar investment.

There was some doubt that the World Cup, billed as a one for all of Africa, would reach most countries on the continent because of their lack of broadband and broadcasting facilities.

More than 900 participants from 50 countries participate in the 19th World Economic Forum on Africa in Cape Town from 10 to 12 June 2009 under the theme Implications of the Global Economic Crisis for Africa.

The Co-Chairs of the 2009 World Economic Forum on Africa are Kofi Annan, Secretary-General, United Nations (1997-2006); Member of the Foundation Board of the World Economic Forum; Soud Ba’alawy, Executive Chairman, Dubai Group, United Arab Emirates; Jiang Jianqing, Chairman of the Board, Industrial and Commercial Bank of China, People’s Republic of China; Graham Mackay, Chief Executive, SABMiller, United Kingdom; and Ngozi Okonjo-Iweala, Managing Director, World Bank, Washington DC. | Richard Elliott/Communications Team. [ www.weforum.org/africa2009 ]