The United Nations Development Programme says global uncertainty over wars can lead to diminished investments critical for Africa’s growth.

Raymond Gilpin, the chief economist and head of strategy, analysis, and
research team at UNDP’s regional bureau for Africa, said this at the closing of the 2024 African Economic Conference (AEC) in Gaborone, Botswana.

“The rising trend towards protectionism can hurt African trade and slow Africa’s gross domestic product. Africa continues to bear the brunt disproportionately of climate change and yet continues to be subdued because of the effects of climate change.

“This is not just in terms of economic progress, but also the safety and security of the people and communities in the country,” he said.

Mr Gilpin said that on the surface, these challenges should cast a cloud over Africa’s economic future.

“But we have been able to listen to the data, empirical results and policy pronouncements. That indicates that if we are smart about it as a continent, we can ensure Africa’s economic future in spite of these uncertainties.

“This can be through integration where we scale up through technology, where we find new ways to solve old problems; through entrepreneurship, where we unleash dynamism in the economy, leveraging our demographic components and competitive advantage,” he said.

According to Mr Gilpin, these things do not just fill us with hope but also challenge our organisations at the AfDB, ECA and UNDP. He said the AfDB, ECA and UNDP were the three most important and preeminent institutions on the African continent regarding development issues.

Mr Gilpin said what we took away from the conference was optimism about Africa’s economic future and the realism that empirical data was pointing us in certain directions.

“So, African researchers have spoken, and it is now incumbent upon us to act, and I hope that as institutions, we will take it forward,” he said.

(NAN)