By Lucy Ogalue
The Executive Secretary of the Economic Commission for Africa (ECA) says productive capacity, AfCFTA and investment are key to accelerating sustainable graduation of African Least Developed Countries (LDCs).
The ECA Executive Secretary, Claver Gatete, said this in a statement on Wednesday in Abuja.
Gatete spoke at the Africa Regional Ministerial Mid-Term Review of the Doha Programme of Action (DPoA) 2022–2031 in Addis Ababa.
He said 32 of the world’s 44 LDCs were in Africa, making the continent’s progress critical to the success of the DPoA.
Gatete acknowledged progress in women’s parliamentary representation, child survival, water and sanitation, electricity access and internet usage since 2021.
He, however, said progress remained uneven, with social protection coverage declining from 9.4 per cent in 2021 to 8.6 per cent.
He said that food insecurity had worsened, while African LDCs continued to account for less than one per cent of global merchandise trade.
According to him, value added manufacturing accounts for only about nine per cent of GDP, while infrastructure and digital gaps constrain productivity.
Gatete said limited productive capacity was restricting industrialisation, job creation and economic resilience across African LDCs.
He stressed the need to invest in reliable energy, transport infrastructure, skills, digital connectivity and technology to strengthen productive capacity.
The ECA chief also called for accelerated industrialisation and diversification to reduce dependence on commodities and low-value economic activities.
He said productive capacity must be matched with access to larger markets, stressing that African LDCs could not transform within domestic markets alone.
Gatete identified the African Continental Free Trade Area (AfCFTA) as an opportunity to create regional value chains and expand markets for African businesses.
He said regional integration would help African LDCs diversify, become more competitive and strengthen their participation in the global economy.
On financing, Gatete said domestic resource mobilisation remained important but could not on its own meet the investment needs of African LDCs.
He called for greater access to affordable, predictable development finance and increased private investment in productive sectors.
Gatete urged international financial institutions and development partners to respond to the specific circumstances and financing challenges facing LDCs.
He said graduation should not merely involve crossing a statistical threshold but should deliver stronger economies, greater resilience and sustainable development gains.
According to him, the ministerial review should identify concrete measures for accelerating DPoA implementation during its remaining years.
He said the outcome would contribute to Africa’s position at the global mid-term review of the DPoA scheduled for Doha next March.
He urged participants to present evidence of progress, identify challenges and develop practical solutions aligned with the ambitions of Agenda 2063.
“Building productive capacity, expanding markets through AfCFTA and mobilising investment remain critical to accelerating sustainable graduation.
“The measures will help deliver lasting development gains for Africa’s Least Developed Countries,” he said.(NAN)