To help Africa reach big goals by 2030, they need $194 billion more money each year, says Philémon Yang, who leads a big meeting at the United Nations.
At a meeting in New York, Yang said Africa needs help from other countries and changes in how things work to succeed in its plans for growth.
While Africa has a lot of possibilities, there are still big hurdles. Yang pointed out that it is important for Africa to move forward in line with the Sustainable Development Goals (SDGs) and the African Union’s Agenda 2063, which aims to significantly improve the economy and society over time.
This is an important moment to try harder for peace and growth that lasts a long time, Yang mentioned.
Yang talked about Africa’s problems like not having enough energy, not having enough food, and having too much debt.
Quick Facts
Africa has a lot of natural resources, but many countries still don’t have things like roads and buildings they need.
- Yang talked about a big problem of needing $1.6 trillion, and said the world’s money system is not fair because it makes paying back loans more important than putting money into helping people and communities.
- “Paying back debt is more important than using money to help develop,” Yang said, urging for fairer financial practices that give Africa a chance to grow stronger.
- Despite the hurdles, Africa’s economy is bouncing back. The growth in African countries south of the Sahara is expected to climb from 2.6% in 2023 to 3.8% by 2025. He explained that by managing money well, using resources within the continent better, and using loans wisely for growth, African economies could become stronger.
Yang also talked about the need for peace and steady governments, especially in places like Sudan and Somalia where fighting stops progress. He said Africa needs changes in laws and society to make things fairer and uphold the law to make peace and lasting growth happen.
Yang promised to keep pushing for Africa’s development globally, saying, “Africa should keep aiming for a safe and rich future.”
Interesting Points
A new study reported by Newslodge shows that Artificial Intelligence (AI) can add over $30 billion to Africa’s economy in ten years. The study, backed by Google, highlights how AI and new tech like cloud computing can spark economic progress and tackle important challenges across Africa.
The report says AI can be used widely to make healthcare better and farms more productive. By using AI, Africa could solve big problems, boosting growth and making many areas stronger and more resilient.