The 18th World Economic Forum on Africa kicked off in Cape Town, South Africa on Wednesday under the theme of "Capitalizing on Opportunity".
Klaus Schwab, founder and executive chairman of World Economic Forum, said in the opening ceremony that Africa needs partnership.
Some key issues and key risks and challenges that Africa is facing would be addressed at the meeting.
John Kufuor, president of Ghana, Thabo Mbeki, president of South Africa, Bingu Wa Mutharika, president of Malawi, Pierre Nkurunziza, president of Burundi and Raila Odinga, Prime Minister of Kenya were present at the opening ceremony.
The leaders expressed optimism about Africa's future. Kufuor said that the opportunity for Africa was immense, and, with time and good coordination, the Africans could make it a powerful entity.
This opinion was agreed by President Nkurunziza, who said Africa was a rich continent and it had no right to be poor.
Africa has seen annual economic growth of more than 5 percent for four consecutive years. In the year of 2008, the growth rate in sub-Saharan Africa is expected at 6.2 percent.
However, the continent also faces many challenges. President Mbeki pointed out that the instability was the major risk that impacts Africa negatively.
In a report dubbed "Africa@ risk" released before the forum, the experts of Global Risk Network said Africa was facing 26 interconnected global risks, of them, four have been identified as being critical for Africa's future.
They are food insecurity, political instability, external economic shocks and climate change.More than 800 decision-makers, experts and entrepreneurs from 50 countries participate in this forum which will last to June 6.
The first one to be stressed is food insecurity which has emerged as a major risk for Africa. High and rising food prices impact disproportionately on poorer communities, high dependence on food imports and food aids lead potentially to social unrest.
