Africa’s economic success and sustainability are intrinsically linked to accountable governance, Botswana’s President, Duma Boko, stressed at the opening of the 2024 African Economic Conference in the capital, Gaborone.
The three-day conference has brought together leaders, policymakers, and experts to address the continent’s economic challenges and opportunities.
Organised by the Government of Botswana, the African Development Bank, the UN Economic Commission for Africa (ECA), and the UN Development Programme (UNDP), the event seeks actionable solutions for Africa’s economic growth.
“Peace and stability in Africa must be anchored on accountable and responsive governance,” the newly elected president of Botswana said, adding: “This is a fundamental human right for every African citizen. It sets the requisite bedrock for any form of measure for our economic development and its sustainability.”
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President Boko underscored that transparency, accountability, and respect for the rule of law are critical in attracting foreign investment and fostering sustainable growth.
“Africa is at a crossroads,” he said. “We must confront the obstacles facing our citizens and leverage our collective strengths to secure a prosperous future amidst a volatile global economic environment characterized by rising inflation, supply chain disruptions, and tightening monetary policies.”
He also highlighted the continent’s unique endowments, including its abundant natural resources and youthful population, which could drive transformative growth “if governments prioritise education, skills development, and value addition for raw materials”.
Boko encouraged African nations to leverage the African Continental Free Trade Area (AfCFTA) to transform the continent’s economic landscape through increased investment, job creation, and industrialisation.
“We must not allow the uncertainties of today to deter us from the opportunities of tomorrow,” he told participants.
