Economy
THE Mauritius Minister of Finance, Economic Planning and Development, Mr Renganaden Padayachy says the African Economic Conference (AEC) will hold discussions on how to address sustainable growth and inclusive development.
This is contained in a video sent by Mr Emeka Anuforo of the Communication and External Relations Department of African Development Bank (AfDB) on Monday.
In the video, Padayachy was addressing newsmen at a briefing organised by the AfDB on Oct. 6.
The minister said the city of Balaclava, Mauritius was set to host the 2022 AEC from Dec. 9 to Dec. 11.
The conference would be held physically and virtually with the theme: “Supporting Climate-Smart Development in Africa”.
Padayachy said: “Hosting such a high-profile event is truly a privilege and an honour for Mauritius.”
The minister said the government was committed to accelerating the country’s green transformation process, aiming to generate 60 per cent of its energy from renewable sources by 2030.
“Sustainable growth and inclusive development do involve a cleaner, greener, and more climate resilient economy,” he said.
In his remarks, AfDB Deputy Director-General for Southern Africa, Kennedy Mbekeani commended the Government of Mauritius for agreeing to host the 2022 AEC.
Mbekeani said the conference was an annual forum of experts aimed at discussing key economic issues of the continent and exchange knowledge on new areas of development in the field.
He said the objective of the conference was to promote knowledge management as an important driver of policy dialogue, planning and implementation.
“This is a premier platform for African intellectuals and professionals who gather to exchange ideas. It fosters dialogue among researchers, development practitioners and policymakers.
“It encourages and enhances research on Africa economics, economic and policy issues by promoting evidence based policymaking.
“It also provides an opportunity to young African researchers, Africans in the diaspora and organisations to share their knowledge with policymakers.
“It serves as a platform for researchers, policymakers and private sector operators to meet and have a consensus on regional and continental integration to accelerate Africa’s inclusive and sustainable development.”
The deputy director-general further said the conference would bring together about 400 participants to discuss the challenges posed by climate change, identify opportunities and strategies for adaptation and mitigation.
“Also draw lessons for success and identify key strategies for financing mobilisation and draft an action plan to support the low carbon and climate resilient development of Africa.”
According to Mbekeani, creating climate-smart policies could become a driver of development across Africa, and investments in building resilience to climate change could have wider economic and social benefits.
He said the outcome of the conference would be an opportunity to reflect deeply on the institutional capacities to build climate-smart development mechanisms.
Furthermore, he said the outcome would support regional member countries to build resilience and transition to low carbon development pathways.
He said the AEC was first organised by the bank in 2006, and aimed to enhance the development effectiveness of the bank’s operations.
It also aimed at a comprehensive support to member states in research and policy analysis.
It further leveraged the skills of African academics and researchers within and outside the continent and to build local capacity to reduce the effect of brain drain on the continent.
“In the following year, in 2007, AfDB joined by the United Nations Economic Commission for Africa (UNECA) and the United Nations Development Programme (UNDP), and other organisations organised the second AEC.
“Over time the organisation of the conference mainly features African Development Bank, UNECA and UNDP,” he said.
Mbekeani also said the 2022 AEC was aimed at supporting climate-smart development in Africa.
“This is extremely important and relevant both globally and continentally,” he said.
Since its inception in 2006, the AEC has supported research, policy discussion, and knowledge sharing on issues affecting Africa.
Mauritius is expecting more than 400 persons as physical attendees. (NAN)
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Tags: African Economic Conference Emeka Anuforo Kennedy Mbekeani Renganaden Padayachy UNDP UNECA
