Experts and policymakers attending a meeting on Africa's priorities under South Africa's Group of 20 (G20) presidency emphasized the need to push for key reforms that support Africa's development.
ADDIS ABABA, March 30 (Xinhua) -- Experts and policymakers attending a meeting on Africa's priorities under South Africa's Group of 20 (G20) presidency emphasized the need to push for key reforms that support Africa's development.
Organized by the African Union (AU) Commission's Department for Economic Development, Tourism, Trade, Industry and Minerals, the virtual meeting was held on Friday under the theme "African Union and South Africa in the G20: Effective Advocacy for Africa's Priorities."
Experts and policymakers at the meeting provided actionable recommendations on how the AU and the continent can leverage South Africa's G20 presidency in 2025 to advance Africa's priorities. The meeting also reviewed the AU's positioning in the G20 following its first year as a full member of the G20.
South Africa assumed the G20 presidency on Dec. 1, 2024, and will host the G20 Leaders' Summit in November this year.
Addressing the meeting, Patrick Ndzana Olomo, head of economic policy and sustainable development at the AU Commission's department, outlined some of the current challenges facing African economies, including the adverse effects of climate change, global economic turbulence, geopolitical tensions and insecurity, and the spillover effects of global market trends.
Olomo emphasized Africa's common position in support of the reform of the global financial architecture toward a more effective system. He also stressed the urgent need to reform the climate finance architecture to ensure transparency, fairness, and inclusiveness.
Noting the vital need to enhance continental coordination between the AU and its members, Olomo highlighted key actions during South Africa's G20 presidency, including stronger advocacy for Africa's key priorities to drive the continent's structural transformation across various development sectors.
Hanan Morsy, deputy executive secretary and chief economist at the United Nations Economic Commission for Africa, said the African continent needs to take full advantage of the "generational opportunity" presented through South Africa's G20 presidency to advance the continent's common position on the global stage.
She said South Africa's G20 presidency is "a critical and unique opportunity" for Africa to set the agenda going forward on key priorities, including the reform of multilateral development banks and the global financial architecture.
The meeting also addressed key issues such as climate adaptation strategies, digital public infrastructure, health financing, and sustainable development.
The AU, following its inclusion in the G20 in 2023, has outlined key priorities to guide the AU's engagement over the next three years. These include fast-tracking the continental bloc's 50-year continental development blueprint, Agenda 2063, advocating for reform of international financial institutions, enhancing agricultural output, achieving a just energy transition, promoting trade and investment for the African Continental Free Trade Area, improving Africa's credit rating, and boosting investment in vaccine manufacturing and pandemic response. ■