The Economic Commission for Africa has called for swift and strategic action to address the complex and growing economic challenges facing Africa.
Claver Gatete, executive secretary of ECA, made the call at the 7th African Union Mid-Year Coordination Meeting in Equatorial Guinea.
This is contained in a statement posted on the official website of the commission on Wednesday.
Mr Gatete outlined five key priorities to fast-track the continent’s integration and development, saying that the question was no longer what to do but how urgently it could be done.
”The question is no longer what to do, but how urgently we can do it; therefore, stakeholders ought to scale up efforts on trade, investment, and sustainable growth,” he said.
Organised by the African Union, the mid-year coordination meeting is the principal platform for aligning the work of the AU, regional economic communities, and regional mechanisms.
The meeting is also central to accelerating the implementation of the African Continental Free Trade Area.
The executive secretary proposed five strategic pillars for Africa’s transformation, including accelerating the implementation of the AfCFTA and de-risking investments to attract long-term finance.
He listed other strategies, including developing value chains and special economic zones, digitising taxation, formalising economies, and ensuring climate resilience.
”These are interconnected levers for sustainable growth, and the ECA stands ready to support member states with data, policy tools, and technical partnerships.
Meanwhile, Mr Gatete, during a high-level bilateral meeting with Marcelino Edu, president of the Economic and Social Development Council, commended the council’s independent role in policy advisory and contribution to economic governance.
The meeting aimed at strengthening cooperation with Equatorial Guinea in key areas of development.
He also held talks with the country’s Minister of Finance, Ivan Molina, focusing on domestic revenue mobilisation, economic diversification, and capacity building.
He reiterated ECA’s commitment to providing tailored support to help the country meet its development goals.
(NAN)
