Public Management

2018 African Economic Conference in Kigali: together for a common purpose to achieve an outcome

2018 African Economic Conference in Kigali: together for a common purpose to achieve an outcome
Wednesday, 28 November 2018 14:21

If you have visited Rwanda, no doubt you would have heard of Umuganda, a vast clean-up operation that takes place every last Saturday of the month. The transformative civic operation has gained the country global recognition. Umuganda means “coming together for a common purpose to achieve an outcome.”

That is exactly what the 13th African Economic Conference (AEC), to be hosted in Kigali from 3 to 5 December 2018, hopes to do. Uniting African think-tanks, researchers, policy makers, public and private sector leaders as well as representatives of Regional Economic Organizations, the meeting is determined to push the integration agenda for Africa to new heights.

The gathering comes just nine months after African leaders signed an agreement establishing the African Continental Free Trade Area (AfCFTA), the world’s biggest free trade agreement since the establishment of the World Trade Organization, an equally important milestone.

The AfCFTA brings together the continent’s 55-member states of the African Union with a combined market of more than 1.2 billion people. The agreement could potentially create a titanic shift in intra-African trade.

Estimates by the Economic Commission for Africa (UNECA) indicate that AfCFTA has the potential to boost intra-African trade by eliminating import duties, and double trade – if non-tariff barriers are also reduced. This will bring the continent’s current intra-Africa trade number currently standing at 15% to 52.3% compared to 54% in the North America Free Trade Area, 70% within the European Union and 60% in Asia.

The 2018 AEC theme: “Regional and Continental Integration for Africa’s Development” is aligned with the African Development Bank Group’s strategy to promote strong, shared and sustainable growth in Africa. Organizers say this year’s conference will be short on theory but big on practical solutions to advance the continent’s regional integration agenda, especially the AfCFTA’s implementation.

Africa’s challenges are well known. For this reason, the African Development Bank Group has positioned Integrating Africa as one of its High 5s development program

 “Our vision is for a stable, integrated and prospering continent of competitive, diversified and sustainably growing economies, participating fully in global trade and investment,” Bank President Akinwumi Adesina said.

Over the past three years, the Bank has funded projects worth US$1.3 billion and regional public goods valued at US$ 187.6 million. The Bank’s policy is to ensure all regional projects allocate 10% of budget to soft infrastructure interventions.

As part of its mandate, the Bank Group continues to lead in several continental wide initiatives targeting both “hard” and “soft” infrastructure (e.g. trade and services facilitation policies and instruments). These initiatives include the Comprehensive Africa Agriculture Development Programme (CAADP), the Programme for Infrastructure Development in Africa (PIDA), and the Boosting Intra-African Trade.

The African Development Bank Group will continue to support and scale up transformative initiatives that seek to boost regional integration. The institution is equally committed to work with stakeholders. RECs need support to deliver on “soft” infrastructure, to harmonize investment and engineering codes, and ensure quality and certification standards.

For Moono Mupotola, Bank Director, Regional Integration “It is imperative to seize this moment and opportunity and call upon all stakeholders taking part in the upcoming African Economic Conference, to dig deep and come up with relevant and effective outcomes that will lead and guide our future actions.”

One key highlight of the conference will be the launch of the Bank’s flagship report, the 2018 Visa Openness Index.  Africa and indeed the global community will be waiting for important outcomes demonstrating how far we have come in the process.

The Bank will be looking to regional experts to determine the best ways to fast-track Africa’s integration. For that to happen, it is imperative to move efficiently and with great speed to address the issue of political will, harmonisation of legislation and non-tariff barriers.

Through all this, the Bank remains optimistic that cooperation through the REC’s is the quickest route to bringing together the 54 fragmented African markets.

And as with Umuganda, the task at hand may be challenging and difficult, but with the entire community united with a common purpose, achieving greater integration is not so far away.

In the words of Bank President Adesina: “We have risen to the challenge and we are on our way!”

25776 in Agency World Toilet Day Tea Cup Picture

Additional Info

  • communiques: Non
  • couleur: N/A
On the same topic
Funding part of $250 million raise to boost investor confidence Fintech expands services, processes $40 billion across 30...
ACK Holding signed an agreement to acquire Colas Gabon, a subsidiary of Bouygues. The deal includes industrial assets and 254 employees, with...
BICICI posted a net profit of CFA36.5 billion ($65.4 million), up 39.3% year-on-year in 2025. Customer loans fell to CFA524.4 billion as the...
Shares gained 42.36% in 2025 and hit an all-time high of 37,500 CFA francs in 2026, delivering investors a sustained rally on the BRVM...
Most Read
01

(EBID) - EBID aims to allocate nearly 41% of its commitments to projects with environmental and...

EBID makes giant strides for a green transition in west africa
02

Mahindra & Mahindra is considering a CKD assembly plant near Durban to strengthen its presence i...

Mahindra & Mahindra Eyes Major Shift to Full Vehicle Assembly in South Africa
03

Four major operators—Mauritel, Mattel, Rimatel, and Chinguitel—submitted a combined bid of ...

Mauritanian Telecom Operators Submit $27 Million Combined Bid for 5G Licenses
04

AFC disbursed €43 million for Côte d’Ivoire solar project Financing supports 66 MW pla...

AFC Backs First Green Project Finance Bond for 66MW Côte d’Ivoire Solar Plant
05

Operators review 2025 investments, outline 2026 expansion plans Consumer complaints persist...

Cameroon Presses Telecom Operators on Service Quality as Complaints Rise
Enter your email to receive our newsletter

Ecofin Agency provides daily coverage of nine key African economic sectors: public management, finance, telecoms, agribusiness, mining, energy, transport, communication, and education.
It also designs and manages specialized media, both online and print, for African institutions and publishers.

SALES & ADVERTISING

regie@agenceecofin.com 
Tél: +41 22 301 96 11 
Mob: +41 78 699 13 72


EDITORIAL
redaction@agenceecofin.com

More information
Team
Publisher

ECOFIN AGENCY

Mediamania Sarl
Rue du Léman, 6
1201 Geneva
Switzerland

 

Ecofin Agency is a sector-focused economic news agency, founded in December 2010. Its web platform was launched in June 2011. ©Mediamania.

 
 

Please publish modules in offcanvas position.