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NOT to rain on our local government’s parade, but I think the only (possible) way for us to end poverty locally is to join the latest drive by the World Bank.
Last week, World Bank president Jim Yong Kim was interviewed by CNN's Richard Quest on how realistic it is to end extreme poverty by 2030.
While I missed the interview (I assume Kim said it was realistic, otherwise why tie your name to it), my feelings are more pessimistic but this might also just be because of black economic empowerment and broad-based black economic empowerment. I
It is not only Kim and the World Bank that are optimistic about the strategy; the International Monetary Fund has approved it too.
With a global population of roughly 6.7 billion people, it is startling to find that two billion (approximately 30%) are food insecure and cannot afford a healthy diet. Even more startling for South Africans is that 14 million of the 52.98 million people residing in our country go to bed hungry each night - let alone their ability to afford a healthy diet.
Moreover, there are more than 1 billion people worldwide living on less than $1.25 per day (there will certainly be overlap between the food insecure and impoverished) and as the world’s population stabilises to a population of around 9.1 billion in the year 2050 , these numbers are certain to rise.
It is no wonder then that Jim Yong Kim sees extreme poverty as “the defining moral issue of our time”, and that a new World Bank group strategy was launched on October 1, a strategy that seeks to realign the global institution to help end poverty by 2030.
In fact, the World Bank is repositioning itself and will, for the first time in the history of the organisation, leverage the strengths of the entire organisation and align all its work for the common purpose.
More specifics of the strategy can be found on the World Bank’s website but three highlights of the strategy are:
• The World Bank will partner with the private sector to use their expertise and capital to fight poverty.
• The World Bank will increase their commitment to fragile and conflict-affected states.
• The World Bank will be as ambitious as possible on issues that are of global importance, including investing in women and girls and climate change.
Interest in the issue of poverty is coalescing around the globe, from political leaders - including President Barack Obama and UK Prime Minister David Cameron - and faith-based leaders to the ONE Campaign, Oxfam, Save the Children and RESULTS and many other civil society groups, all calling for an end to poverty.
As with many others, I question the success of BEE and BBBEE. However, all may not be lost: whoever takes over control of South Africa in next year’s elections will be wise to team up with the World Bank and to work towards eliminating poverty and hunger locally.
- Fin24
*Geoffrey Chapman is a guest columnist and trade policy expert at the SABS. Views expressed are his own.
Last week, World Bank president Jim Yong Kim was interviewed by CNN's Richard Quest on how realistic it is to end extreme poverty by 2030.
While I missed the interview (I assume Kim said it was realistic, otherwise why tie your name to it), my feelings are more pessimistic but this might also just be because of black economic empowerment and broad-based black economic empowerment. I
It is not only Kim and the World Bank that are optimistic about the strategy; the International Monetary Fund has approved it too.
With a global population of roughly 6.7 billion people, it is startling to find that two billion (approximately 30%) are food insecure and cannot afford a healthy diet. Even more startling for South Africans is that 14 million of the 52.98 million people residing in our country go to bed hungry each night - let alone their ability to afford a healthy diet.
Moreover, there are more than 1 billion people worldwide living on less than $1.25 per day (there will certainly be overlap between the food insecure and impoverished) and as the world’s population stabilises to a population of around 9.1 billion in the year 2050 , these numbers are certain to rise.
It is no wonder then that Jim Yong Kim sees extreme poverty as “the defining moral issue of our time”, and that a new World Bank group strategy was launched on October 1, a strategy that seeks to realign the global institution to help end poverty by 2030.
In fact, the World Bank is repositioning itself and will, for the first time in the history of the organisation, leverage the strengths of the entire organisation and align all its work for the common purpose.
More specifics of the strategy can be found on the World Bank’s website but three highlights of the strategy are:
• The World Bank will partner with the private sector to use their expertise and capital to fight poverty.
• The World Bank will increase their commitment to fragile and conflict-affected states.
• The World Bank will be as ambitious as possible on issues that are of global importance, including investing in women and girls and climate change.
Interest in the issue of poverty is coalescing around the globe, from political leaders - including President Barack Obama and UK Prime Minister David Cameron - and faith-based leaders to the ONE Campaign, Oxfam, Save the Children and RESULTS and many other civil society groups, all calling for an end to poverty.
As with many others, I question the success of BEE and BBBEE. However, all may not be lost: whoever takes over control of South Africa in next year’s elections will be wise to team up with the World Bank and to work towards eliminating poverty and hunger locally.
- Fin24
*Geoffrey Chapman is a guest columnist and trade policy expert at the SABS. Views expressed are his own.
