I, therefore, want to recall the words of Mahatma Ghandi, a person who profoundly influenced South Africa, to remind Muslim decision-makers of an enduring principle governing Islamic practice. Ghandi said:"The things that will destroy us are: Politics without Principle; Pleasure without Conscience; Wealth without Work; Knowledge without Character; Business without Morality; Science without Humanity; and Worship without Sacrifice."
Ghandi said eloquently what is imprinted in the Muslim psyche, but what we need to be reminded of from time to time, namely, that Muslims do not simply comply with their duty, they pursue the Higher Objectives (the Maqasid) of their faith and the Shariah (Law). These Higher Objectives are contained in the Quran and the life of the Prophet, but I want to isolate three broad reminders.
Firstly, the Quranic description of Humanity is that it is a single community. This has never been more evident than in the current age of Globalisation with its massive movement of people, information, capital and technology. This integrates Islam into the rest of the world so much so that our fortunes are tied, sometimes tragically, but hopefully beneficially. The pursuit of beneficial integration must become one of our Maqasid (Higher Objectives).
Secondly, the Quran describes the Prophet Muhammad as "a Mercy unto all Creation." This ascribes to Muslims and, therefore this W.I.E.F, the responsibility also to be a Mercy unto all Creation.
It means that in the definition of creation, Muslims cannot be blind to our responsibility to the natural world, to our environment, and generally the needs of the non-human creation. We need to be in the forefront to prevent global warming, to find new and cleaner sources of energy, to protect what is left of the rainforests, and to ensure sustainability. In terms of our responsibility to be a mercy also to humanity, our economic efforts as the W.I.E.F must translate the Maqasid (Higher Objectives) into a responsibility for:
- Greater equality so that we close the gap between the rich and poor between and within countries, so that we overcome poverty, unemployment, disease and hunger in the world; and greater inclusion of those marginalized, particularly the poor in the Third/Developing World and women all over the World.
Thirdly, the Prophet's approach to knowledge and information is that "wisdom is the lost property of the believers, wherever it is we must take it" means that wisdom is cosmopolitan. This was never truer than in the golden age of the Islamic Civilisation when a cosmopolitan approach to wisdom resulted in innovation, creativity and progress. If that was true then, then the current state of stagnation results from a century of imitation, fear of change, and the shutting out of the other. Monoculturalism leads to decay.
All of these suggest that the W.I.E.F cannot simply be a Muslim version of the World Economic Forum. This forum has to pursue the Higher Objectives of social justice, poverty eradication, economic equality, environmental protection and overcoming the marginalisation of groups like women, blacks, and the poor.
In the conduct of business, we have to be values-driven. We must straddle the often-competing demands of morality (doing good) and self-interest (making profits). We have to return to the practice of using trade, investment and tourism to build bridges between cultures, faiths, races, genders and geographies.
We cannot, therefore, simply do business with ourselves, and those we have historically traded with, mostly in the West and mostly on their terms. The challenge I want to leave you with today, as Muslim countries and business people, is that our commitment to the Maqasid (Higher Objectives) of our faith, must lead us to new markets for trade, new destinations for investment, new sources of raw materials, new places to visit, new technologies for innovation and progress, and new approaches for sustainability.
We cannot, as Muslim countries and businesspeople, continue on the existing path. We must ask ourselves why we are not making the kind of impact in the world as a collection of Muslim States as a socio-economic and geo-political level. We must ask why are the combined OIC countries' share of the World Export Trade is less than 10% if OIC countries have 31% of the World's population; 70% of world energy supply; and 40% of the world's raw materials.
Maybe the answer lies in the fact we largely export raw materials without beneficiation, we do not develop our people's potential into human capital, and we do not harness productively our surplus capital into innovation, technology and social justice.
If the Prophet Muhammad exhorted Muslims to "seek knowledge even into China", then maybe the Muslim world must not only seek to do business with China, but to follow China into the growing African market. China has emerged as:
- Africa's growing investment partner with an investment in the last year of USD 12 billion in Africa's transport infrastructure, electricity supply and water provision
- Africa's biggest customer with one tenth of Africa's exports going to China to the value of USD 19bn and- A growing lender of capital to Africa with USD 7bn being made available in loans.
This W.I.E.F. should begin to see what drives China and India to Africa, and ensure that we begin to shift Muslim countries' surplus and investment capital, as well as tradeable goods to Africa. Africa represents a major opportunity to realise all the Highest Objectives that we should pursue, but it also represents an awakening economic giant.
1. Africa is achieving peace and democracy at an unprecedented rate: 31 of 53 countries have held safe elections in the last year allowing for the building of institutions in Africa, investment in social and economic infrastructure, macro-economic stability, and growing peace for the exploitation and beneficiation of raw materials.
2. Under the New Plan for Africa's Development (NEPAD), Africa is growing economically. In the last two years:
- Average African growth in GDP exceeded 5%
- Only 3 countries had negative growth
- Africa's terms of trade improved by 6,7% on the back of higher commodity prices
- Africa had above USD 5bn as a surplus in its current accounts
- The average per capita income rose by 3%
We are not inviting you to Africa out of solidarity only, but because there's money to be made. If you need a soft landing, then South Africa is the best platform with its:
- Democratic and stable political system
- Familiar and consistent banking system
- Internationally justiciable legal system
These ensure that you can do business in South Africa and from there to the rest of Africa.
Of course, within South Africa, Cape Town and the Province of the Western Cape, remains South Africa's premier tourist destination, the centre of our knowledge-based and creative economy, and a place where property development still realises great returns.
Ahead of World Cup 2010, South Africa and the Cape, is a hive of investment in infrastructure and growth in the economy. Since September 11, Muslims have been in search of tourist, trade and investment destinations free of Islamophobia, South Africa represents a great such destination.
