Africa’s Economic Growth Must Focus On Equity- AU Commission

The Dlamini Zuma-led administration of the African Union Commission has noted that Africa’s economic growth needs to focus on equity, inclusiveness, the preservation of natural capital and creation of decent jobs, especially for the youth and women.
?
Speaking in a communique made available to journalists after the just concluded meeting of the Heads of the African Union Commission, the Economic Commission for Africa and the African Development Bank Group?in Addis Ababa, the Commission said it firmly believes the time is ripe for a paradigm shift and a change in mindset towards realizing the vision of a continent that is integrated, prosperous and peaceful, and a dynamic force in the global arena.
?
It also emphazised that Africa’s challenge is economic transformation, which agenda should be led by Africans, noting that to achieve this objective, the Commission has committed to explore all avenues for mobilizing sources of finance including tapping into Africa’s own resources and global financial opportunities.
?
The communique also acknowledged that external partners have contributed to Africa’s progress through instruments such as the Africa Development Fund (ADF) to which the Commission remains committed.?
?
To support the vision of Africa’s leaders to transform the continent over the next 50 years, the communique reaffirmed the commitment by the three pan-African institutions to collaborate closely with Regional Economic Communities and other partners to foster the agenda of an integrated and prosperous continent.
?
“We have agreed to engage with Africa’s leaders and peoples in articulating and preparing such an African led transformation agenda for the next 50 years. We shall pursue this discussion in the upcoming African Union meetings and through consultations with Regional Economic Communities, Partners and other stakeholders to realize the vision of the African Renaisance”?
?

“We seize the opportunity presented to us to reaffirm the spirit of Pan Africanism and African solidarity, which inspired the political evolution of the continent in the last 50 years, and is now critical for realizing Africa’s socio-economic transformation”
?
Recognizing the progress the continent has made in several areas, including peace, and security, good governance, economic growth, regional integration and attracting investments, we reflected on the key challenges, opportunities and priorities facing Africa going forward, drawing on the experience of the last 50 years”
?
“We welcome the continent’s resilience in the face of the recent global financial and economic crises but commit to further action with all relevant stakeholders to enhance Africa’s economic independence, reduce vulnerability and diversify its relations within the global economy”?the communique jointly signed by?Dr Nkosana Dlamini Zuma, Chairperson of the African Union Commission (AUC), Dr Carlos Lopes, Executive Secretary of the Economic Commission for Africa (ECA), and Dr Donald Kaberuka, President of the African Development Bank Group (AfDB) reads.

?

0