As the CEO of the NEPAD Business Foundation (NBF), I can reflect back on a very successful 2007 where we, together with our partners, grew the Foundation into a formidable organization, recognized for its strong role in promoting the aims and objectives of NEPAD. I will highlight a few of the notable successes and achievements, and mention key expectations for the beginning of 2008.

Our notable achievements for 2007 include and will be expanded upon in 2008:

• The successful implementation of our flagship programme, The African Leadership Programme (ALP), a course designed in partnership with Wits Business School, to develop a new generation of African leaders, marked one of the first projects for 2007.
• At the World Economic Forum held in Cape Town in May 2007, the first official NEPAD Business Foundation Business Guide was launched by distributing a copy to all heads of state, government officials and other delegates at the forum. This publication was applauded for its content and some even called it the best marketing tool for NEPAD.
• In the second half of the year the establishment of the Project Management Office (PMO) began after securing financial support from SAFCEC (SA Federation of Civil Engineering Contractors) who agreed to fund a Project Manager for a 6-month period to establish the PMO by February 2008. The PMO will benefit all sectors, with the first project being in the Water Sector.
• In conjunction with our partners in government (the dti and Dept of Foreign Affairs) together with the NEPAD Secretariat, we proudly hosted the NEPAD Projects Conference in Sandton. This provided an ideal platform for eliciting interest in and support towards the objectives of the Foundation, while emphasizing the success of NEPAD measured by effective delivery of those projects having far-reaching impact on improving the lives of all Africans.
• Six new sector heads have been appointed in the areas of Mining, Energy, Transport, Infrastructure, Agribusiness and SMME.
• Old Mutual has become the new Founding Sponsor of the NBF and has agreed to Head the Investments and Finance Sector, which includes the establishment of the NBF Investment Fund.
• The Legal Sector and Media, Entertainment and Communications Sector are in the process of being established.

The African continent has to deal with civil unrest and long-term consequences of colonialism, as is currently happening in Kenya. We are all too familiar with the impact on our developing economies when the global markets falter. Closer to home, the SADC countries are experiencing a deterioration in their energy supply from Eskom. In spite of these realities of doing business in Africa, we remain positive about the tremendous potential and opportunities that Africa offers and we look forward to an exciting year of 2008 being the year of new business partnerships and ventures.