A few weeks before its next session, the Economic Commission for Africa is setting out the contours of its upcoming discussions. The health crisis has revealed the need to unify the digital strategy, for growth that is mindful of climate constraints.
The 53rd session of the Economic Commission for Africa (ECA) will be held from March 17 to 23, 2021. The last two days, it will bring together African Ministers of Finance, Planning and Economic Development in Conference.
The preceding days will be the scene of high-level discussions between development specialists, experts, economists, etc. The theme of the event will be, “Sustainable industrialization and diversification of Africa in the digital age in the context of Covid-19”.
Preparations for the meeting reached “an advanced stage,” ECA reported on February 3. The chosen theme illustrates the continent’s desire to industrialize and create jobs for millions of its population, especially the young people who join the labor market each year.
Stephen Karingi is Director of the Regional Integration and Trade Division of ECA. He considers that with the AfCFTA (African Continental Free Trade Area), now engaged, the chosen theme “offers ministers and experts a platform to discuss the need to ensure the integration of digitization strategies”. This, while African countries need to come up with policy frameworks and ensure planning for industrialization.
For him, “the ZLECAf is useful in these difficult times when the continent is fighting against Covid-19. It is essential that our governments strike institutional agreements for cooperation in the digital economy, and take steps to support digital capabilities and connect African businesses.”
The entry into force of the AfCFTA marks a unique turning point in the continent’s further industrialization; e-commerce, a key enabler in digitized economies, is a cornerstone of the agreement’s infrastructure.
One of the lines of thought for ECA this year is the need for African countries to achieve rapid economic growth without exacerbating the environmental cost of development. The reflection leads to an alignment of development strategies with climate change mitigation measures. Of course, industrialization, while being an effective engine of growth for many developed countries, has taken a toll on the global climate.
Sustainability and inclusion!
According to the ECA, African countries will need to implement development strategies that recognize that better, safer and more inclusive growth requires strong climate action and efficient use of natural resources.
The chosen theme also illustrates that Africa’s development path must avoid the mistakes of developed countries and instead seek to embrace its modernization through digitization and less costly industrialization activities for the planet.
While the Covid-19 pandemic has severely affected the African economy, pushing it into contraction, for the first time in more than twenty years (decline -2% to -5.4% of GDP), she underlined the need accelerate the digitization of Africa.
CEA 53rd Session 2021!
If emerging digitization can be taken to scale, it can be transformational, helping Africa to industrialize and diversify sustainably into a global digital economy estimated at over $11.5 trillion.
ECA considers that Africa must understand environmentally sustainable industrialization and diversification as means of creating decent jobs for the 170 million young Africans who are expected to enter the labor market by 2030. This is about to build better from the health crisis and ensure resilience to future shocks.
For their part, the deliberations of the Conference will focus on how countries can harness rapid technological innovation to foster stronger economic growth and promote sustainability and inclusion, in the context of urgent action needed. to offset the impact of Covid-19 on Africa’s economies and economic trajectory. See you on March 17th.
Reference: https://www.friendsofeurope.org/events/africa-europe-strategy-group-on-digital-first-meeting/
