“Talking about development does not mean to talk about philophy“, Luciano Balbo, president of Fondazione Oltre, an Italian social venture capital company, during the conference about the development of Africa which ended in Taormina, Italy, last 3rd October.
“In the world of business it does not make sense to talk about democracy or authoritarianism but it makes sense to talk about balanced powers. Up until now democracy in Africa has demonstrated itself to be a good system of governance“, Balbo said in his speech in Taormina.
“The problem today – he added – is that nobody takes risks, there is no transparency”. The president of the Italian venture capial also said that different good steps have been taken in Africa and that the west cannot not play an important role in that continent.
Ending his speech, Baldo added a note about the current world economic crisis: “Even we have this world crisis, the wealth of the world will continue to grow. The problem is how to manage the money after this crisis”.
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