African Countries Urged to Address Poverty, Developmental challenges on Continent

President Bola Tinubu has called on African countries to speak with one voice leveraging on the continent’s potential to address endemic poverty, unemployment and other developmental challenges.
President Tinubu made this known in a message to the 2024 African Caucus meeting of Ministers of Finance and Governors of Central Banks held in Abuja on Friday.
The 2024 Caucus meeting of African Ministers of Finance and governors of central bank has as its theme: Facilitating intra African Trade: catalyst for sustainable economic growth in Africa.
The cardinal objective of the meeting is for Africa to fashion out a common voice at meetings of multilateral development banks with a view to optimizing supports by those banks in attaining African agenda.
Consequently, areas of focus for the meeting include strengthening pan African payment Exco-systems, enhancing connectivity, ensuring energy access and advancing Trade facilitation working a just and equitable Transaction Framework.
Declaring the meeting open, President Bola Tinubu, represented by the Vice President, Kashim Shettima remarked that African generally face humanitarian and other development challenges and needed a common voice to poverty and corruption.
“Africa’s story is one of resilience, creativity, and hope. Indeed, we have made significant strides in recent years, with many of our nations achieving remarkable economic growth, social progress, and political stability”.
“Yet, obstacles such as increasing poverty, rising debt across many countries, inequality, and conflicts continue to widen the gap between our continent and the 2030 Agenda for Sustainable Development Goals. This is a matter of serious concern,’‘ he said.
The Vice President said his administration was currently undertaking bold economic policies to propel Nigeria’s economy out of the downturns occasioned by multiple shocks in the global economy.
In an address, the Minister of Finance and Coordinating Minister of the Economy, Mr. Wale Edu described the meeting as an ample platform for Africa to shape its collective agenda towards economic prosperity.
Governor of the Central Bank of Nigeria, Mr. Olayemi Cardoso said African now stands on the threshold of new era in Africa Economic cooperation through the Continental Free Trade Area, which he explained remained the largest of such agreement in the world.
“To navigate this complex landscape and set the continent on the path of sustainable economic growth, we must leverage the support of our global partners,” Mr Cardoso noted.
The Governor, Bank of South Sudan and chairmen of the East Africa Community, Dr. James Alic- Garang said Africa was calling for reform of the global financial framework.
Dr. Garang also identified access to funding where the World Bank and the African Development Bank have crucial role to play to support Africa.
Linus Okpeh