By Africa Links 24
Published on 2024-03-04 10:54:00
The African continent faces numerous challenges in achieving sustainable development and economic growth, and the Economic Commission for Africa (ECA) plays a crucial role in supporting countries in addressing these issues. In a recent interview, Claver Gatete, a former Minister of Finance and Infrastructure, shared his plans for the ECA to ensure its relevance to policy makers.
Gatete highlighted the importance of macroeconomic management and emphasized the need to align the ECA’s efforts with the African Union’s vision for 2063 and the Sustainable Development Goals. He stressed the importance of addressing trade barriers and promoting regional economic integration to benefit all countries on the continent. Additionally, Gatete emphasized the significance of tackling challenges related to energy security, climate change, and technology in accelerating the development process.
To achieve these objectives, Gatete emphasized the importance of coordination and collaboration with financial institutions such as the World Bank, the African Development Bank, and Afreximbank. He also recognized the growing role of philanthropies in supporting development initiatives and emphasized the need for effective allocation of resources to address critical needs in education, health, and other vital sectors.
In response to a question about the reform of the global financial architecture, Gatete acknowledged the inefficiencies of the current system and called for urgent adaptation to meet the needs of the 21st century. He highlighted proposals from initiatives such as the Bridgetown Initiative and the G-20, emphasizing the importance of government, private sector, and international financial institutions working together to find solutions.
Gatete also emphasized the importance of regional thinking in driving economic growth and job creation. He highlighted the need for governments to create a conducive environment for investment while encouraging private sector participation in key industries such as agro-processing and critical minerals. By promoting regional cooperation and collaboration, Gatete believes that African countries can leverage their resources more effectively and accelerate development.
Finally, Gatete discussed the opening of a new division within the ECA focused on technology. He emphasized the transformative impact of technology on achieving the Sustainable Development Goals and highlighted the importance of addressing infrastructure and connectivity challenges to ensure widespread access to technology. Gatete also stressed the need to document innovations and enhance data sets to facilitate knowledge sharing and replication of successful practices across the continent.
In conclusion, Gatete’s vision for the ECA revolves around enhancing regional cooperation, leveraging technology for development, and fostering collaboration with key stakeholders to address Africa’s development challenges. By adopting a holistic approach and working towards common goals, the ECA aims to play a significant role in driving sustainable development and economic growth across the continent.
