The Executive Secretary of the Economic Commission for Africa, Vera Songwe, concludes a series of fruitful meetings in New York on the sidelines of the United Nations General Assembly (UNGA). Ms. Songwe discussed with participants and high-level sessions, talking about the African Continental Free Trade Area (CAFTA), Digital Identity, Investment Opportunities and Enhanced Partnerships.
Among these events was a high-level parallel event organized jointly by ECA, GBCHealth and the Aliko Dangote Foundation, which discussed the preliminary findings of the next ECA report, entitled “Health Care and Economic Growth in Africa”, calling for African private sector participation and increased investment in health care. The preliminary report notes that neither governments nor existing public-private partnerships are sufficiently effective and that existing PPPs are disproportionately concentrated in a small number of countries. The preliminary report recommends a new model, in which P3s prioritize major diseases and broaden their scope for improving the health of the continent as a whole, which ECA deems essential, to stimulate long-term economic growth in Africa. Africa. The report will be launched in early 2019.
Ms. Songwe also spoke at the Development Identification Roundtable, which was attended by African leaders. The event focused on the need to “touch the invisible billion and offer digital opportunities to all”. It indicates that 542 million Africans currently live without identity. Many of them are young people. To that end, she says, “Digital identity is about empowering people and protecting their rights. Countries that proactively create digital identities provide citizens with a secure and timely way to access electronic services, thereby accelerating access to financial inclusion, economic opportunities, mobile access and connectivity, government services and democratic processes “.
Africa open to business
At a side event titled, “Africa Open for Business Forum,” which aimed to showcase Africa’s leadership in the 2030 Agenda for Sustainable Development and the 2063 Agenda for Africa, Songwe said that trade indices go beyond the index and send a clear message that there are functioning institutions.
“African countries have consistently ranked in the top 5 in recent years, which means they have now realized that improving the business environment is essential to attracting the private sector,” he said. she. According to her, much of this progress comes from the growth of SMEs, which contribute to 64% of countries’ GDP growth, “she adds. “Small businesses will be the driving force of the continent”.
Songwe says there has been significant energy connectivity on the continent for the last 10 years. “We went from 700 million people without access to energy to 520 million people. In addition, she says, ten or more countries have access to 70 percent of energy. We still have major challenges, but we are making progress. It highlights Kenya, Mauritania and Senegal as examples to be followed in their efforts to improve their environment in order to support investment in energy.
In addition, it states that “Africa has the largest number of ports under construction and, thanks to lessons learned from other regions, there is no doubt that we are open to trade”. However, she says, capital markets are needed to finance countries and 22 nations have issued sovereign bonds in this regard. Funding for development initiatives will also require pension fund support for long-term investments on the continent.
The side event was organized by the African Renaissance and African Diaspora Network (ARDN), the African Senior Officials Group, the African Union Commission, the Permanent Mission of the Federal Republic of Nigeria to the United Nations , in collaboration with ECA, the United Nations Network for Sustainable Development (SDSN), the Global Partnership Forum (GPF), with the support of the United Nations Department of Public Information.
IDDA III – Third Decade of Africa’s Industrial Development and Illicit Financial Flows
At a high-level side event on how inclusive and sustainable industrial development can support the implementation of the African Continental Free Trade Area (CAFTA), Ms. Songwe underlines that “if the ZLECA is to catalyze the industrialization of Africa through integrated markets, addressing the lack of infrastructure and digitizing economies on the continent are essential. ”
The meeting also launched an initiative to defend IDDA III, during which Ms. Songwe presented a silver plaque to Daniel Kablan Duncan, Vice President of Côte d’Ivoire, as a token of recognition for his work in favor of industrial development. A number of heads of state have agreed to become advocates for IDDA III to actively promote the role of inclusive and sustainable industrial development under IDDA III and to raise awareness of this important initiative at the national, regional and international levels. world.
All speakers agreed that for the successful implementation of the CAFTA, all international and national actors needed to strengthen and intensify their efforts, including through innovative global partnerships at the multilateral level.
The event was organized by the United Nations Industrial Development Organization (UNIDO), the African Union Commission (AUC), the African Development Bank (AfDB), the Economic Commission for Africa (ECA) and the Food and Agriculture Organization of the United Nations (FAO).
Ms. Songwe then participated in another side event on Illicit Financial Flows organized by the Governments of Nigeria and Norway. She referred to ECA’s work on advocacy, base erosion, price shifting and institutional support. She informed the meeting that ECA is working to involve more countries in global initiatives on transparency and fiscal exchanges. “Only then can Africa begin to speak credibly about the use of its resources,” she says.
Strengthening partnerships
While in New York, Ms. Songwe also held a number of bilateral meetings to promote strong partnerships between ECA and its partners in the field of digital identification. She notes that 95% of all transactions in Africa are cash-based. Leveraging the Accord will require robust digital identification and payment systems. In this regard, Ms. Songwe met with Nandan Nilekani, Co-Founder of Infosys and discussed Africa’s digital identity and its participation in ECA’s Digital Identity Advisory Board. In addition, she met with General Atlantic CEO Bill Ford to discuss how their global experience can inform the design of Africa.
During a meeting with the Italian parliamentary delegation, she discussed ECA’s strategic priority areas, investment opportunities in Africa and strengthening the Italy-Africa partnership. She informed them about the Migration Agreement, ECA’s work on migration, the Digital Identity Regulatory Framework for Africa, and cross-border solutions to strengthen integration.
“Africa is the next frontier for investment. But we simply need to ensure that the governance of our institutions is up to the task. Africa and Italy can be equal partners, “she says.
Ms. Songwe also joined former CNN journalists Zain Verjee and Isha Sesay to support their new women’s initiative and the launch of “Rouse,” a storytelling platform that aims to boost women’s voice on the African continent. . The meeting was held at Africa House, New York.
