http://news.bbc.co.uk/2/hi/africa/4599879.stm

The following from the above site.

Sir Bob Geldof and others behind Live 8 say that is precisely why the objective this time is not fund-raising but awareness-raising.
They want the concerts to be seen as part of a movement, with the immediate aim of influencing the G8 summit.
Debt relief
Their goals largely square with the proposals of the Commission for Africa, of which Bob Geldof was a member.
They argue that what Africa needs is much increased, higher quality and more carefully targeted aid, cancellation of the debts of the poorest countries and the removal of trade barriers that act against the interests of Africa.