President Nana Addo Dankwa Akufo-Addo has called upon African leaders to bolster partnerships and collective efforts in tackling the continent’s development challenges, emphasizing the need to dismantle barriers hindering increased trade and investment opportunities.
Speaking in Accra to commemorate the 50th anniversary of engagement between Africa and the Arab worlds, President Akufo-Addo underscored the importance of collaboration in charting a course for further development and cooperation between the regions.
Themed “BADEA Prosperity Partnership: 50 Years of Africa-Arab Cooperation,” the event is organized under the auspices of the Arab Bank for Economic Development in Africa (BADEA), the Presidency of Ghana, and the African Union (AU) Commission.
Established in 1974, BADEA has played a pivotal role in enhancing economic, financial, and technical cooperation between Arab and African nations, contributing over US$13 billion to development projects across Africa.
President Akufo-Addo, also the Champion of AU Financial Institutions (AUFIs), praised BADEA’s contributions to infrastructure, education, health, and agriculture in Africa, highlighting the transformative impact on socio-economic development.
He emphasized the critical need to prioritize access to quality education and human capital investment, stressing that such investments pave the way for inclusive prosperity.
The President expressed optimism that the anniversary celebration would stimulate discussions and foster new collaborations between Arab and African countries, international organizations, and development agencies aimed at achieving mutual development goals.
The event serves as a platform for sharing knowledge, best practices, and strategic priorities for BADEA in the coming decades. It will focus on policy reforms, infrastructure development, trade facilitation, financial integration, and private-sector engagement.
Dr. Sidi Ould Tah, President of BADEA, emphasized the significance of deepening Africa-Arab cooperation amidst global economic challenges, highlighting the establishment of the Arab-Africa Financial Consortium (AAFC) to enhance economic cooperation and development in both regions.
Dr. Akinwumi Adesina, President of the African Development Bank Group, echoed the importance of creating value and enhancing competitiveness in Africa’s global market participation, underscoring the opportunities for economic growth through strategic financial partnerships.
The anniversary celebration concludes with a commitment to strengthen bilateral ties and advance socio-economic prosperity through sustained cooperation and shared development initiatives between Africa and the Arab world.
