On November 11, 2008, Columbia Business School and the Jerome A. Chazen Institute of International Business welcomed Shantayanan Devarajan, chief economist of the World Bank's Africa region. "The Promise of the Private Sector for Development in Africa" was the fourth annual Jerome A. Chazen Lecture, which brings business leaders to campus to lend their perspective on topics of importance within the global academic and business communities. Mr. Devarajan discussed the challenges facing private-sector development in Africa and the critical role of the government. He also showcased some of the success stories in the continent. Amir Ziv, vice dean, Samberg faculty director and professor of accounting at Columbia Business School, introduced Mr. Devarajan.

Development in Africa is one of the most critical issues the world faces in the 21st century. Shantayanan Devarajan began his lecture by stressing his strong personal commitment to resolving this issue: "If you can't solve it, you might as well be in another profession."