World Economic Forum: more than just talkSometimes dismissed as just a ‘talk shop’, a few of this year’s attendees share the merits of this high-level think tank.Article by Samantha Page | Date: 29 June | Read time: 3 min

Right at the start of the pandemic we interviewed CNN’s Richard Quest on the role of talk shops like the United Nations Climate Change Conference (COP) or the World Economic Forum (WEF). Now that these events are back, we asked a few South African attendees at Davos this year whether they still have a place in a post-Covid world.

‘It improves our understanding of how global investors see the country.’
Dr Leila Fourie, Group CEO of the JSE

‘The WEF annual meeting remains the principal platform for solving the most challenging global issues and problems. It sets the wheels in motion for outcomes with far-reaching impacts. The annual meeting has amplified the voice of emerging markets like ours on key topics such as the just transition to becoming a regenerative economy, digitalisation and the global economic recovery.

‘This year’s ESG Governor’s meeting focused on how leaders could collaborate and encourage clients to decarbonise and the need to think beyond competitive dynamics to determine sector-specific transition pathways. It is crucial for emerging markets like South Africa to highlight the second-order effects that could arise in front of a platform of global change-makers.

‘The WEF CEO Initiative is an example of a workstream that was sparked by conversations at Davos – the result of getting the right people in the right room. The initiative has so far led to the creation of South Africa’s Jobs Fund, SA SME Fund and the Youth Employment Service, among others, to put the economy onto a path of sustainable and inclusive growth. For South Africa’s business and government leaders, these meetings improve the understanding of how global investors see the country and its investment case.’

‘There is no substitute for a classroom with a great teacher.’
Bruce Whitfield, presenter, The Money Show, 702 Talk Radio

‘Only once you attend one of these so-called “talk shops” do you realise the value of meeting in person and exchanging ideas. It’s all-too easy to dismiss gatherings like this as pointless, but there is considerable value in broadening your worldview. While the forums have no authority to implement anything, that isn’t why they exist. Their power relies on their influence, and that depends on the delegates who attend.

‘There is no substitute for sitting in the same space as economists Mariana Mazzucato or Joseph Stiglitz and not only learning from them in person but having the opportunity to pose questions to them. The organisers of these events are smart people who constantly evolve the agenda and panelists to keep them fresh and relevant. Sure, you can learn much from books and the internet, but there is no substitute for a classroom with a great teacher who is open to being challenged and questioned – Davos and similar high-level events are precisely that: hotbeds of thinking – what you do with it, is up to you.’

‘It’s a uniquely collaborative environment to build problem-solving communities.’
René Parker, CEO of RLabs

‘It was an honour and a privilege to attend the World Economic Forum this year as one of the social innovators. For RLabs, a non-profit aimed at reconstructing communities through innovation, technology and education, birthed on the Cape Flats in Cape Town, it meant representing not only the communities we serve but also acknowledging every individual doing great and meaningful work.

‘This platform shed light on our mission to improve the lives and economic status of the communities we work in. Global leaders from the public and private sectors were focused on addressing current challenges during this time of heightened polarisation, and it was quite evident that social innovators and civil society have an important role to play. The aim of the meeting was to provide a uniquely collaborative environment in which to reconnect, share insights, gain fresh perspectives and build problem-solving communities and initiatives.

‘The point that was reinforced for me is how communities are the problem experts. With a deep understanding and first-hand knowledge of their challenges, they have the will and the potential – but not always the resources – to make change happen.’

‘It’s helpful in providing insight and understanding.’
Tim Cohen, columnist and editor, Daily Maverick

‘WEF is an extremely useful conference for a variety of quite diverse reasons. First, because the attendees are such senior businesspeople and entrepreneurs, the quality of the interactions are interesting, meaningful and creative. The format is designed for fast, speech-free, unprepared interaction, which helps keep the discussions authentic and lively.

‘Second, the conference helps to determine and isolate the issues of the day and is useful for sharing experiences and solutions. It’s by no means infallible in its predictions, but it’s helpful for gaining insight and understanding. Third, the events are seldom specific to any country and focus on regions and themes, which I find helpful as it diverts South Africa from its belief in its own exceptionalism and widens the focus to broader themes.’

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By Samantha Page

Samantha is a seasoned journalist, who writes for many publications, and most recently Daily Maverick.

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