The former Chairperson of the African Union Commission Nkosazana Dlamini-Zuma has listed four key areas that will stimulate desired economic growth for Africa as embedded in agenda 2063.
Agenda 2063 is a strategic framework under the African Union for the socio-economic transformation of the continent over the next 50 years.
Dlamini-Zuma highlighted the key areas in her keynote address at the 4th Africa Congress of Accountants on May 2 at Speke Resort Munyonyo, in Kampala.
She stated that the agenda builds on, and seeks to accelerate the implementation of past and existing continental initiatives for growth and sustainable development.
The agenda focuses on implementation of activities in the areas of land and water, people’s power, education, infrastructure, information and communication technologies, tourism, financial sector stability, peace and security among others as pillars of economic growth for the African continent.
— Doreen komuhangi (@doreenkomuhangi) May 2, 2017
Zuma said Africa has another important resource – its people – over 1 billion. She said these are sources of skills and market for goods produced in Africa.
“What we need is to do innovations and research in the areas I have mentioned so as to create jobs for our people,” she said.
She added that the paradox of rich Africa, poor Africa should end by governments investing heavily in agriculture and related resources.
“98 percent of the foods that we consume in Africa is imported…there is no rocket science in processing and developing agribusiness,” she said. She is a former wife to South African President Jacob Zuma.
On infrastructure and energy, she said that focus should not leave behind renewable energy – fossils, wind, hydro power, bio fuels. Value addition should also be enhanced in important minerals, she said
“We must move away from just exporting raw materials,” she said, adding “We must industrialise.”
She said Africa should be seen owning or joining ventures with international companies running insurance and transportation of goods on “our oceans”.
“We should not export jobs,” she said.
— #ACOAUG17 (@acoa2017) May 2, 2017
Nkosazana urged accountants to stick to ethical standards of the accounting profession so as to boost the growth of the financial sector and ultimately contribute to the growth prospects of Africa.
Over 1000 delegates from Africa and beyond are taking part in the meeting that ends Friday – May 5.
The meeting is running under the theme: accountancy and accountability: transforming Africa’s Economies.
The meeting, that was officially opened by President Museveni on May 2 is organised by the Institute of Certified Public Accountants of Uganda (ICPAU) and the Pan African Federation of Accountants (PAFA).