Africa must take charge of its economic destiny —Economic Commission for Africa chief, Gatete

The 57th session of the Economic Commission for Africa’s (ECA) Conference of African Ministers of Finance, Planning, and Economic Development has ended with a strong call for the continent to take control of its development agenda.

ECA Executive Secretary, Claver Gatete, speaking at the close of the conference, said Africa must recognise the profound global shifts underway and act decisively to secure its economic future.

Gatete highlighted that global economic realignments, rapid technological advancements, and shifts in trade, investment, and aid flows are taking place at a time when the global financial system was proving inadequate to address contemporary challenges.

“Africa, in the face of these global developments, has no other choice than to act – and act proactively,” he stated in a statement in Lusaka on Sunday.

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He said: ”What has become abundantly clear in our deliberations is that Africa must take charge of its own economic destiny.”

One of the key resolutions from the conference focused on developing value chains, reflecting a strong commitment by African countries to industrialisation, greater intra-African trade, and value addition.

Gatete said this shift could be decisive in reducing the continent’s dependence on raw commodity exports.

“As global supply chains are being reconfigured and a new continental free trade market takes shape, Africa must rethink and reorganize its supply, production, and trade networks for greater resilience and sustainability,” he stated.

Gatete also highlighted the transformative role of artificial intelligence (AI), pointing to projections that AI could contribute US$1.2 trillion to Africa’s economy by 2030 and boost GDP by 5.6 percent.

He stated that AI, along with other emerging technologies, presents an opportunity for Africa to leapfrog traditional development pathways and drive innovation-driven economic growth.

The ECA chief reaffirmed the African Continental Free Trade Area (AfCFTA) as the continent’s best chance to strengthen intra-African commerce and reduce reliance on external markets.

Gatete urged African nations to shift from policy commitments to concrete actions in implementing the trade agreement.

“At the end of the day, we need to rethink the way we do things, and we have an answer in the AfCFTA,” he said.

The conference concluded with renewed commitment from African finance ministers to work towards a more self-reliant and resilient continent, leveraging industrialisation, technology, and regional trade integration to drive sustainable development.

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