The African Union Commission (AUC) and the African Development Bank (AfDB) Group held a technical session on 12-13 January 2023 to explore ways of having a future joint study entitled “Key Actions to Stimulate Inclusive Growth and Sustainable Development in Africa” dedicated to the drivers of development in Africa and to identify key actions to be taken for Africa to achieve a 7% GDP growth level over the period 2023-2063.
The session brought together global experts in economic development as well as former African Ministers of Economy and Finance.
This study was recommended in 2020 by Moussa Faki Mahamat, who chaired the African Union Commission at the time, and by Akinwumi Adesina, President of the African Development Bank Group, and now it is time to draw up a roadmap to identify the actions to be taken to ensure quality growth on the African continent.
Growth of 7-9% of GDP requires a high level of inclusion and progress in sustainable development indicators to enable the African economy to move from low to high-income status, lifting people out of poverty and achieving social, economic, and environmental sustainability goals.
Participants in this session affirmed that Africa has the potential to achieve these goals and has many strategies and policies to do so.