The Economic Commission for Africa (ECA) will have its fifty-fifth session in Addis Ababa, Ethiopia, from March 15 to 21. The ECA Conference of Ministers 2023 (COM 2023) will focus on the theme “Fostering recovery and transformation in Africa to reduce inequalities and vulnerabilities”. The conference aims to refocus attention and action on poverty eradication, inequality, and other issues that make the African population continuously vulnerable to these scourges.
The convention will bring together African finance, planning, and economic development ministers, as well as central bank governors, to explore policies and interventions for strengthening resilience and reducing poverty and inequality in the face of global crises. Furthermore, the conference will discuss the socioeconomic consequences of climate change as well as the potential for leveraging green finance. It will also look at how the African Continental Trade Area may be used to boost economic resilience and inclusiveness.
The conference will begin with a preparatory meeting of the Committee of Experts of the Conference of African Ministers of Finance, Planning, and Economic Development, followed by the ministerial section of the conference.
The summit takes place at a time when Africa is dealing with a number of issues, including the COVID-19 pandemic, conflict, drought, and climate change. The pandemic has exposed and worsened African societies’ inequalities and vulnerabilities. As a result, this forum strives to identify solutions to these problems and promote long-term development.
A successful COM 2023 is one where we would come out with a very clear understanding of how we can build stronger, competitive, less vulnerable economies in Africa while respecting the imperatives of achieving Net Zero targets.This has to be based on practical and transformational pathways. COM 2023 should be able to identify accelerators for us to achieve agenda 2063 and 2030
Antonio Pedro,Acting Executive Secretary of the ECA
This year’s forum follows the recently issued African Continental Free Trade Agreement (AFCFTA) Investment Protocol, which aims to establish a more stable and predictable investment climate in Africa, attracting more global investment. These two endeavors are likely to aid the continent in realizing its sustainable development goals.
