In his speech to the conference, Dr Mkhize highlighted the key points of leadership and the effects and opportunities associated with globalisation in the quest for sustainable economic development in KwaZulu-Natal, South Africa and Africa as a continent.

KZN MEC for Finance and Economic Development Dr Zweli Mkhize
27 November 2007

'Collaborative LED Implementation for Sustainable Economic Development'

This year’s conference presents a wonderful opportunity to look at the type of leadership we need to ensure the 'Collaborative LED Implementation for Sustainable Economic Development' in 2008.

Leadership for sustainable economic development
South Africa’s transaction to democracy has given its citizens the power to influence and direct the direction of this country. This signals the need for a new approach: an approach which requires today’s leaders to define development priorities, plan for the attainment and collaborate in their implementation. Therefore, in the next few months if you ask anybody in KwaZulu-Natal how they would like to make a difference in the provincial economy, we want to hear only four words: ‘collaboration’, ‘good governance’, ‘employment’, and ‘growth’.
 
KwaZulu Natal boats the busiest port and largest deepwater port on the African continent and the world over, in terms of cargo volumes. In addition this province has:

• Transport infrastructure which provides an easy link to Mozambique, East Africa, Asia and Europe.
• A bioclimatic profile suitable for lucrative agricultural production.
• The largest sand mining and mineral processing operation in the southern hemisphere.
• The world largest smelter.
• Vast prime industrial land along the coast and further inland.
• An established business process outsourcing market with the fastest growing call centers in Africa.

The primary responsibility of great leaders is to make a positive impact in their communities, and what distinguishes these leaders from others is that they have a sense of urgency. Further to this, a transparent and high-quality economic governance approach is the key to a healthy business environment.

Globalisation and development 
A report released by the World Bank in 2006 predicts that the global economy could expand from $35-trillion in 2005 to $72-trillion in 2030. While this outcome represents only a slight acceleration of global growth compared to the past 25 years, it is driven more than ever before by strong performance in developing countries.

In this regard, South Africa’s economic performance is encouraging:
• South Africa's unadjusted real GDP at market prices for the first quarter of 2007 increased by 5.4% compared with the first quarter of 2006.
• The corresponding increase for the respective quarters of 2006 were 4.6%, 4.4%, 4.7% and 6.2%, yielding an annual growth rate of 5% in real GDP at market prices.
• Record expansion in construction activity helped South Africa's (GDP) grow by 4.7% in the first quarter of 2007, making it 34 consecutive quarters of economic growth since 1998, the longest upswing in the country's history.
• Stats SA reported on Tuesday this week that the country’s economic growth has increased to 4.7%in the third quarter of 2007, up from a revised figure of 4.4%in the second quarter.
• The annualised quarter-on-quarter growth in real gross domestic product (GDP) has increased to 4.7% in the third quarter of 2007, up from the revised figures of 4.4% in the second quarter and 5% in the first quarter.

However, some regions, notably Africa, are at risk of being left behind. It is for this reason that provincial government is employing every method to accelerate and sustain economic growth. That is the only way we can make substantial progress towards reducing poverty.

For a full copy of this presentation, visit the KZN DED website or follow this link directly to Dr Mkhize's speech.

Alternatively, contact the KZN DED directly for more information:

KwaZulu-Natal Department of Economic Development
Boyce Mntambo, Manager for Information & Communication Technology

Postal address:
Private Bag X001
Bishopsgate
4008

Physical address:
270 Jabu Ndlovu Street
Pietermaritzburg
3201

Tel.: +27 33 264 2500
Fax: +27 86 679 6404
Email: mntambob@kznded.gov.za

Website: www.kznded.gov.za