Africa yet to succeed in internal mobilization of resources leading to prosperity

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The African continent has not succeeded in the internal mobilization of resources leading to prosperity due to the fight against the COVID-19 pandemic and climate change, UN Under-Secretary-General and Executive Secretary of the UN Economic Commission for Africa (UNECA) Vera Songwe said Monday in Senegal.

Speaking at the official opening of the 54th session of the Conference of African Ministers of Finance, Planning and Economic Development (CoM2022), she insisted the need for African countries to increase and strengthen their domestic resources.

Even though finance ministers and central bank governors have done a good job in the fight against COVID-19, but “to survive is not to achieve growth and prosperity”, she said, emphasizing that Africa must manage to have funding to operate a real revival of its economy.

She pleaded for a transformation of the continent’s economies, with a policy of regional integration, good governance of resources and digital development.
The CoM2022, Africa’s flagship economic conference, is underway in in Dakar, Senegal from May 11 to 17. Enditem

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