(AfDB) - The stage is now set for the 2023 African Economic Conference, jointly organized by the African Development Bank, the Economic Commission for Africa (ECA) and the United Nations Development Programme (UNDP).

The conference will be held from 16-18 November in a hybrid format, with the physical location being the UN Conference Centre in Addis Ababa, Ethiopia.

This year, the largest research and economic gathering on the continent will focus on  "Imperatives for Sustainable Industrial Development in Africa". African ministers, United Nations partners, and key development and private sector representatives will meet up to discuss some of the challenges and opportunities for Africa to boost green and sustainable industrialisation.

The conference will also provide a platform for established academics and young researchers to present their solution-oriented research to decision-makers.

Background:

The coronavirus (Covid-19) pandemic exposed the inadequacies of African industries and the continent's dependence on foreign manufacturers, particularly medicines and medical devices needed to respond to the health crisis.  In addition, the disruption of the global supply chain during the pandemic highlighted Africa's weak integration into global value chains.

Massive investment in infrastructure, including energy, will create an enabling environment for industrialization on the continent. A dynamic response to infrastructure and alternative energy needs to be created, as well as their guaranteed efficient management and maintenance.

The 2023 African Economic Conference is centered on efforts to increase sustainable industrialization in Africa and meet the continent’s Agenda 2063 aspirations including:

• Better integration into global value chains to boost inclusive growth.
• Green businesses for rapid social development.
• Exploring private sector and public-private options for financing sustainable industrialization; and
• Boosting internal African markets and productive capacity to increase self-sufficiency and self-reliance on many basic goods and services.

Participants will discuss the evidence of where sustainable industrialization has been successful, including in Africa.

Since its inception in 2006, the AEC series has fostered research, expert and policy dialogue, and knowledge sharing on a wide range of issues and challenges facing Africa.

African Economic Conference - Quick Facts

• The African Economic Conference is the leading pan-African forum for discussing emerging economic challenges and opportunities.
• The African Development Bank Group first organized the African Economic Conference in 2006 to enhance the development effectiveness of its operations. The United Nations Economic Commission for Africa joined as a joint organizer in 2007 and the United Nations Development Programme in 2010.
• Past conferences have underscored the importance of adapting international policies, instruments, and agreements and building the local capacity of African states to better respond to Africa's needs.

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