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Developed Countries Urged to Support and Empower African Economies to Grow

Developed Countries Urged to Support and Empower African Economies to Grow

Nairobi, Thursday 7th September, 2023 - The economic managers of the advanced countries of the world have been urged to be intentional about supporting and empowering emerging economies, by creating an enabling environment for international trade to thrive.

The Minister of State at the Ministry of Finance, Dr. Mohammed Amin Adam issued this call when he spoke in Nairobi at the just ended African Climate Summit on the topic, ‘’From Commitment to Action, Creating Fiscal Space for Climate Action Agenda 2063, and the SDGs in Africa.’’

He bemoaned the situation where some policies of advanced countries indirectly stifled the economies of countries that were already in distress. He stated further that on the basis of open and fair trade, Africa could also mobilize the needed resources that would enable the continent to augment capital inflows from development partners.

H. E Fitsum Assefa Adala, Ethiopia’s Minister for Planning and Development added that it was time for African money to work for Africa and that could be achieved through an honest assessment of economic performance.

She noted, ‘’by engaging in frank, honest assessment of our performance, we will be able to measure our progress and know where our resources really go.’’

Rt. Hon. Andrew Mitchell, UK’s Minister of State for Development and Africa, in his remarks pledged the British government’s support via increased funding to help Africa tackle Climate Change.

He stated that his government would issue a paper that would outline their objectives, commitment, and the necessary steps to be taken towards achieving those objectives. 

Mr. Mitchell also indicated that it was time to inject optimism into the fight against climate change. END

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