African Economic Platform

The African Economic Platform is a forum that will provide opportunity for deliberations on the continent’s economic transformation, and give momentum to Agenda 2063, a vision for a prosperous Africa over the next 50 years.

The African Economic Platform was an outcome of the 2014 ministerial retreat of the AU Executive Council, which recommended the creation of an economic transformation platform to help work towards realising priorities of Agenda 2063.

It will bring together African political leaders, academics and captains of industry to discuss the continent’s economic future and practical actions required in the implementation of priorities outlined in Agenda 2063. Discussions will focus on skills, trade, industrialisation and free movement.

These leaders will look at ways of utilising the continent’s resources to their full potential to drive sustainable development, structural economic transformation and inclusive growth.

One of the aspirations of Agenda 2063 is to have a prosperous Africa based on inclusive growth and sustainable development. The aim is to have structurally transformed economies to create shared growth, decent work and economic opportunities for all people.

Africa is yet to fully utilise its abundant natural resources as a driver of growth. According to the African Development Bank, Africa boasts 30% of the world’s mineral reserves, about 10% of its oil reserves and 8% of its gas resources. It also has the world’s second largest tropical rain forest.

There’s also not enough trade taking place among countries on the continent – research indicates that intra-African trade comprises less than 15% of total African trade annually.

Agenda 2063 identifies Africa’s resources as key to financing its development. It calls on all stakeholders to speedily transform and grow and industrialise economies through beneficiation and value addition of natural resources.

The African Economic Platform will give impetus to the continent’s economic transformation and growth towards achieving the Africa we all want, as envisioned in Agenda 2063.