African Economic Conference kicks off in Addis Ababa

Addis Ababa, November 16, 2023 (FBC) – The 2023 African Economic Conference, jointly organized by the African Development Bank, the Economic Commission for Africa (ECA) and the United Nations Development Programe (UNDP) kicked off in Addis Ababa today.

President Sahle-Work Zewde, policymakers, industrial experts, private sector representatives, other pertinent stakeholders are participating at the conference.

The two-day conference is being held under the theme “Imperatives for Sustainable Industrial Development in Africa,” ENA reported.

The conference will provide a platform for the academia and young researchers to present their solution-oriented research to policymakers and decision-makers.

It is also centered on efforts to increase sustainable industrialization in Africa and meet the continent’s Agenda 2063 aspirations.

Participants will discuss the evidence of where sustainable industrialization has been successful, including in Africa.

Speaking at the opening of the conference, Ethiopian Minister of Industry Melaku Alebel stressed that there is an urgent need for Africa to rapidly diversify its economies and add value to everything that it produces.

“We aim to raise Africa’s manufacturing GDP contribution significantly, a leap that would accelerate our progress towards both the Sustainable Development Goals and Agenda 2063’s targets,” he added.

The minister stated that Ethiopia exemplifies this ambition with notable economic resilience and growth, underpinned by its Homegrown Economic Reform and a 10-year development plan.

These aim to elevate Ethiopia into a middle-income country by 2025, focusing on key sectors like agriculture, manufacturing, mining, tourism, and ICT, he elaborated.

Melaku said “We are committed to enhance our manufacturing sector’s productivity. Our focus is on addressing challenges like shortcoming in input supply chains, financial access, and infrastructure development. Our industrial parks, attracting foreign investment, and they are pivotal to this mission,” he said.

Since its inception in 2006, the AEC series has fostered research, expert and policy dialogue, and knowledge sharing on a wide range of issues and challenges facing Africa.