The President of the Republic, Nana Addo Dankwa Akufo-Addo, has on the fifth anniversary of the Council on International Relations Ghana urged African leaders and worldwide growth companions to critically reassess the present growth cooperation framework.
Talking on the theme “The Limits of the Present Improvement Co-operation Framework for Africa’s Transformation,” the President highlighted the successes and challenges of Africa’s growth journey for the reason that finish of colonialism.
President Akufo-Addo acknowledged the progress Africa has made in sectors like agriculture, training, well being, and infrastructure, crediting worldwide partnerships and numerous growth frameworks for these achievements. Nevertheless, he identified that regardless of these positive aspects, vital challenges similar to poverty, inequality, and underdeveloped infrastructure proceed to plague the continent.
He criticized the dependency on exterior support as a significant limitation of the present growth cooperation framework, arguing that it undermines home possession and self-reliance. “Overreliance on support weakens the capability of African governments to generate and mobilize home assets, in the end hindering sustainable growth,” he acknowledged.
To deal with these challenges, President Akufo-Addo referred to as for a shift in direction of financial self-sufficiency, emphasizing the necessity to stimulate home useful resource mobilization, nurture entrepreneurship, and create an enabling setting for indigenous non-public sector funding. He additionally harassed the significance of lowering support dependency, significantly in mild of the rising geopolitical local weather within the West, the place populist governments are reducing support budgets.
One other crucial subject raised by the President was the fragmentation of support efforts, which frequently results in inefficiencies and duplication. He advocated for larger harmonization and alignment of support efforts with nationwide growth priorities, selling mutual accountability and a extra coordinated strategy to maximise the affect of support.
President Akufo-Addo additionally highlighted the necessity for structural transformation of Africa’s economies, transferring past short-term tasks to long-term sustainable growth. He emphasised the significance of insurance policies that promote financial diversification, enhance productiveness, and create first rate jobs. The President cited his authorities’s One-District-One-Manufacturing facility (1D1F) initiative as a key effort in direction of attaining this structural transformation.
In conclusion, President Akufo-Addo referred to as for a brand new growth cooperation paradigm primarily based on real partnerships, mutual accountability, sustainability, and native possession. He emphasised that African nations should take the lead in defining their growth priorities, with growth companions supporting these efforts in a collaborative and respectful method.
Distributed by APO Group on behalf of The Presidency, Republic of Ghana.