Africa's role deliberated

There is corruption in every country - it is just a question of degree, Finance Minister Pravin Gordhan said.

He spoke at a meeting of business giants and politicians, convened by Brand SA and Time magazine at the World Economic Forum in Davos, to explore Africa's role in global transformation.

"In Africa, it [corruption] is an issue we take seriously. There is an obligation on investors in Africa to help create a better climate," Gordhan said.

The session concluded that infrastructure development, the removal of trade barriers, more sophisticated financial markets and a move towards exporting modified commodities were all key to creating more diversified economies.

"There is a huge opportunity for the continent to pick up dividends as China moves up the value chain and releases jobs, enabling African countries to outbid countries like Vietnam for these jobs," Gordhan said.