The 7th edition of the African Economic Conference will be held in Kigali,
Rwanda, from October 30 to November 2
KIGALI, Rwanda, October 24, 2012, Leaders and scholars from Africa and
around the world will gather in Kigali, Rwanda, from October 30 to November
2 to debate the continent's prospects for sustainable and inclusive growth
in the context of the international economic crisis
Organized each year by the African Development Bank (AfDB)
(http://www.afdb.org), the Economic Commission for Africa (ECA) and the
United Nations Development Programme (UNDP), the 7th edition of the African
Economic Conference will be held in Kigali under the theme "Inclusive and
Sustainable Development in an Age of Economic Uncertainty."
Africa has grown strongly over the last decade. Having weathered the
economic crisis, the continent's average growth is expected to rebound to
4.8 percent in 2013.
The region now faces the challenge of translating that growth into effective
poverty reduction and sustainable human development, through employment
creation, the establishment of robust social services, and opportunities for
political and economic participation.
The conference will examine the possibility of pursuing these objectives in
the face of a worsening international economic environment, volatile food
and fuel markets, and falling levels of exports, remittances and official
aid.
"African policy-makers are by and large continuing to realize their quest
for growth and improved well-being in their countries," said Donald
Kaberuka, President of the African Development Bank. "However, in a
difficult international environment, the question is how to meet the
investment requirements to continue to forge ahead."
Participants will examine the key drivers of growth in Africa. With 50 out
of 55 countries in the region producing or exploring for oil, the conference
will look at the possibility of using profits from extractive industries to
spur economic diversification and investments in social capital and human
development.
"African leaders should seize the opportunity to use the continent's immense
natural wealth for the benefit of their people," said Helen Clark,
Administrator of the United Nations Development Programme. "Inclusive growth
starts with economic transformation. It means opening up the economy so that
people can be in the driver's seat."
Trade with developed and emerging economies presents additional
opportunities for growth and so does regional integration, which can unleash
the full potential of Africa's investment and business environment. To that
end, the participants will look at how barriers can be removed and
regulations improved to allow people to benefit from trade.
With the number of youth in Africa set to double by 2045, and 27 percent of
them currently unemployed, the conference will also look at the potential
behind Africa's present and future workforce.
"Creating employment for young people isn't just crucial for social cohesion
and stability. It creates a virtuous cycle of productivity, innovation,
economic growth and fulfillment," said ECA Executive Secretary Carlos Lopes.
Organized as a series of open debates, the African Economic Conference will
provide a uniquely open forum for political leaders, academics and emerging
talents from the continent to discuss African issues.
The conference will be opened by HE Paul Kagame, President of Rwanda; UNDP
Administrator Helen Clark; Donald Kaberuka, President of the African
Development Bank; and Carlos Lopes, Executive Secre