Sustainable financing and development crucial for achieving Agenda 2063 – Abani

Mr. Charles Abani, the UN Resident Coordinator in Ghana, has stressed the critical importance of sustainable financing and development for achieving Agenda 2063, Africa’s strategic framework aimed at transforming the continent.

He said that traditional funding sources alone cannot meet the ambitious goals set forth in Agenda 2063, making it imperative for the private sector to play a crucial role in policymaking to attract investment.

Mr. Abani was speaking at the 2024 Business Safari, a networking event organised by The Global Africa Trade Advisory Chamber (GATAC) in collaboration with the Ghana India Trade Advisory Chamber (GITAC) in Accra.

He said that the private sector was uniquely positioned to drive Africa’s development, serving as the engine of job creation, a source of innovation, and a bridge to unlocking the continent’s vast resources and human capital.

“With its ability to mobilise investment, harness technology, and build competitive industries, the private sector will be key to realizing the seven aspirations of Agenda 2063,” he added.

Mr. Abani stressed that to harness the full benefits of the African Continental Free Trade Area (AfCFTA), it was essential for governments to collaborate with the private sector to create a conducive business environment.

This includes supporting ease of trade, reducing non-tariff barriers, and facilitating the smooth movement of goods, services, and people across borders.

Mr. Abani stressed that as governments plan, robust public-private partnerships would be critical to achieving the needed economic growth.

Those alliances, he noted, could spur innovation, increase competitiveness, and eventually help the continent achieve its development goals.

Mr. Abani stated that governments, international organizations, and the private sector must collaborate to strengthen institutional frameworks for regional integration and trade.

He said that stakeholders need to build the capacity of SMEs to take advantage of AfCFTA and foster an environment of trust and transparency that encourages investment and promotes good governance.

Dr. Dominic Oduro Antwi, the President of GATAC and GITAC, highlighted the crucial role of the private sector in creating value from agricultural products.

He said that by adopting innovative technologies, Ghana could increase efficiency, reduce post-harvest losses, and expand processing capacity, and thereby strengthen agricultural exports through collaborative research, building partnerships, and development.

Dr. Antwi stressed that Ghana needed to position itself as a competitive player in the global agribusiness market by leveraging new technologies and innovations to enhance the local economy.

Source: GNA

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