Gaborone, the capital of Botswana, is hosting the 2024 edition of the African Economic Conference. Experts meeting from 23 to 25 November 2024 will be looking for and proposing solutions to the problems facing the African economy at a time when the world is experiencing growing uncertainty.
How can we secure the future of the African economy in an era of growing global uncertainty? This is the question that a number of experts are trying to answer in Gaborone, the capital of Botswana. They are here for the 2024 edition of the African Economic Conference, whose opening ceremony was attended by the new President of the Republic of Botswana.
‘Meeting global challenges in these uncertain times requires a multi-dimensional approach that takes into account human development, geopolitics, the economy, the environment and the social economy. Despite this, all hope is not lost. In the midst of growing uncertainty, Africa still has unique prospects which, if harnessed effectively, can turn challenges into opportunities so that the continent doesn’t just survive but thrives.
Duma GIDEON BOKO, President of the Republic – Botswana
Solutions inspired by African realities, which in turn must inspire action, according to the President of Botswana. These realities mean that more than 470 million Africans today live in poverty, including 149 million who have fallen into this category as a result of climate shocks.
‘The stakes are indeed high for Africa. Annual losses due to climate-related disasters alone amount to between 290 and 440 billion dollars, while the financing gap for Africa’s sustainable development goals (SDGs) is 1.3 million dollars per year. In addition, Africa’s external debt has surpassed $1 trillion by 2023, with unsustainable interest payments limiting development financing.’
Claver GATETE, Executive Secretary, ECA – Rwanda
The development of regional value chains, better mobilisation of domestic resources and the digitalisation of services in general are just some of the solutions recommended by these experts to ensure a sustainable economy in Africa.