The United Nations Development Programme states that cooperation between Nigeria and South Africa has created an essential platform aimed at ensuring Africa’s priorities are reflected in global decision-making spaces.

Varsha Redkar-Palepu, UNDP deputy resident representative (programme), said this in Abuja during the G20-Africa outreach meeting on industrialisation and agriculture.

The meeting was hosted by the High Commission of South Africa in Nigeria, in collaboration with the federal government, ahead of the G20 Summit scheduled to take place from November 22 to 23 in Johannesburg, South Africa.

Speaking during the second plenary for invited international organisations, she said, “I commend the government of Nigeria for hosting this vital meeting. Your leadership and close cooperation with the government of South Africa have created an essential platform to ensure Africa’s priorities are truly reflected within the global decision-making spaces.”

The official added, “Also, I commend the government of South Africa for the steadfast stewardship of the G20 Presidency. The approach of bringing the G20 to the regions and engaging African partners demonstrates a commitment to shared prosperity and global solidarity.

“The African Union’s permanent membership in the G20 also marks a structural gain for the continent: it institutionalises Africa’s voice at the global table, ensuring decisions shaping the world’s economy are informed by the continent’s opportunities.”

She identified agriculture as the backbone of Africa’s economy, stating that the sector provides employment opportunities for half of the labour force and contributes roughly a quarter of the GDP.

However, the continent still exports largely unprocessed commodities while importing high-value food at a staggering cost, exceeding $1 billion annually.

“Our message today is quite simple. Industrialisation and modernised agriculture are two sides of the same coin. For Africa to progress, industrialisation is non-negotiable. This is a work in progress due to many of the fundamentals that have also been discussed today,” she said.

However, it is also due to a structural asymmetry in global finance.

 “What is missing is the global financial architecture to turn natural wealth into sustainable economic value. Africa is still perceived as a risky lending partner. We continue to have a quote-unquote African premium placed on our debt. The high cost of capital is slowing down broader development goals, yet a fair premium on debt would mean funds available for industrialisation and meeting our sustainable development goals.

“If we align national reforms and investment pipelines with these G20 outcomes, we can move quickly from statements to lifting yields, cutting post-harvest losses, and crowding (5:16) in blended finance at scale,” she said.

She described the AU seat at the G20 as an opportunity for African members to position their countries to secure fair financial terms.

“UNDP stands ready to support governments in the African Union to transform our economic outlook and achieve the sustainable development goals through Africa’s industrialisation. The G20 is Africa’s moment. Let us now move from imports to industry, from post-harvest losses to food exports, from potential to prosperity here in Africa, as a vital pillar of the global economy,” Ms Redkar-Palepu advised.

The meeting featured remarks by the Minister of Agriculture and Food Security, Abubakar Kyari, and the Minister of State for Industry, Trade and Investment, Owan Enoh.

Ben Joubert, acting chief director of regional organisations, Department of International Relations and Cooperation; Bukar Hamman, Nigeria G20 Sherpa, High Commissioner of Cameroon to Nigeria and Dean, Africa Group, Abuja, Salaheddine Ibrahima.

(NAN)