The 2023 African Economic Conference is set to commence from November 16th to 18th, 2023.
The African Development Bank (AfDB), the Economic Commission for Africa (ECA), and the United Nations Development Program (UNDP) jointly organize it.
It will feature a hybrid format, with the physical location being the UN Conference Centre in Addis Ababa, Ethiopia.
It’s the continent’s biggest research and economic gathering, focusing discussions on “Sustainable Industrial Development in Africa.”
African ministers, UN partners, and industry leaders will convene to explore opportunities and challenges for green, sustainable industrialization in Africa.
The conference also offers a platform for academics and young researchers to share solution-focused research with decision-makers.
The African Economic Conference is a significant platform for discussing Africa’s economic issues and opportunities.
The African Development Bank Group initially organized it in 2006 to enhance its development efforts.
In 2007, the United Nations Economic Commission for Africa joined as a co-organizer, and in 2010, the United Nations Development Programme also became involved.
Previous conferences emphasized the need to adjust global policies and agreements while strengthening the capabilities of African nations to meet their unique requirements.
Insights of the 2023 African Economic Conference
The Covid-19 pandemic laid bare the shortcomings of African industries and the continent’s reliance on foreign manufacturers, especially for essential health supplies.
Furthermore, the global supply chain disruption emphasized Africa’s limited integration into these chains.
To boost industrialisation, the continent needs to invest a lot in power and transportation. This will establish a conducive environment for industrial growth.
Simultaneously, there is a need for a proactive approach to infrastructure and alternative energy development, ensuring their efficient management and maintenance.
The 2023 African Economic Conference is centred on helping Africa’s industries grow sustainably to achieve its Agenda 2063 including.
- Better integration into global value chains to boost inclusive growth.
- Green businesses for rapid social development.
- Exploring private sector and public-private options for financing sustainable industrialization; and
- Boosting internal African markets and productive capacity to increase self-sufficiency and self-reliance on many basic goods and services.
Participants will talk about places where sustainable industry has worked, even in Africa.
Since 2006, the AEC series has encouraged research, expert discussions, and sharing knowledge on African challenges.