At the African World Economic Forum in Cape Town this week delegates have assembled from across the world to discuss the implications of the global economic crisis for Africa's future.
What is already clear is that 18 months into the downturn growth on the continent has been more resilient than many predicted.
But the downturn is forcing many businesses to re-evaluate their investment plans for Africa. Although foreign direct investment remained resilient last year, forecasts indicate that it will fall from $62 billion (R500bn) to about $27bn this year.
To flourish across the continent business requires the protection of a robust legal framework and the certainty that comes from a transparent regulatory environment. Continued development, however, must also rely on improving infrastructure and a reduction in bureaucracy to facilitate the growth of local enterprise.
In turn, business has much to offer Africa, not just in the contributions it makes through taxes, but through investment, job creation and training.
However, I believe business's role in local economic development and poverty alleviation is not always well understood by policy makers.
At SABMiller we recently commissioned a report by the Insead business school to assess the socioeconomic footprint of our subsidiary in Uganda.
The analysis revealed that our Ugandan enterprise was responsible for $92 million in added value to the local economy, comprising salaries, excise taxes, corporation taxes, household savings and dividends.
The company was shown to generate significant indirect employment, with a multiplier effect of 100 times.
Beer is inherently a local product, brewed, sold and consumed locally, and this affords SABMiller the opportunity to use our value chains to encourage local economic development.
We are working with about 12 000 local farmers to source an increasing proportion of our raw materials, such as barley or sorghum, in Africa. In three years, we intend to increase that figure to 44 000, with our subsidiary in Tanzania aiming to be fully self-sufficient in barley within five years.
If African countries are to fully transform themselves into self-sustaining market economies, reform must continue to be a key priority.
Continuing improvements in governance, democratic accountability and the adoption of market-friendly macroeconomic policies will remain critical to ensuring Africa's continued growth.
Graham Mackay is the chief executive of SABMiller and a co-chairman of the African World Economic Forum