African leaders say as global uncertainty rises, there is an urgent need for bold, collective action to secure Africa’s economic future and foster resilience.

Botswana President Duma Boko, speaking on Saturday at the ongoing  2024 African Economic Conference (AEC) in Gaborone, Botswana, said Africa needs to take its rightful place globally.

Mr Boko called for economic transformation, urging greater value addition to Africa’s vast resource base and the development of regional value chains to boost employment and economic diversification.

“With nearly 70 per cent of Africans under 30, there is the need for substantial investment in education, technology, and jobs to harness the potential of the next generation of innovators, entrepreneurs, and leaders,” he said.

The president reiterated the need to ensure peace and stability on the continent, which he said must be anchored on accountable and responsive governance.

According to him, this is a fundamental human right for every African citizen and sets the requisite bedrock for any measure of our economic development and sustainability.

He said that to attract foreign investment and build sustainable growth in Africa, we must demonstrate a commitment to transparency, accountability, and respect for the rule of law on the continent.

Claver Gatete, UN under-secretary-general and executive secretary of the Economic Commission for Africa (ECA), echoed these sentiments of addressing Africa’s significant economic challenges.

Mr Gatete further outlined the need for de-risking investment environments through improved governance, transparency, and innovative mechanisms to attract private sector investment.

Ahunna Eziakonwa, the assistant secretary-general and director of the Regional Bureau for Africa at the United Nations Development Programme (UNDP), decried how Africa had continued to bear the burden of climate change despite its little contributions.

Kevin Urama, vice-president and chief economist of the African Development Bank (AfDB), restated the importance of homegrown solutions embedded in local realities to drive growth on the continent.

(NAN)