UNITED NATIONS — UN Secretary-General Antonio Guterres on Monday called for joining forces to build a more prosperous Africa in his message for Africa Industrialization Day, which falls on Nov. 20.
“On Africa Industrialization Day, let us join forces to build a more sustainable, peaceful and prosperous continent for all,” said the secretary-general.
“Countries across Africa are facing a perfect storm: armed conflicts, rising food and energy insecurity, skyrocketing inflation and debt, shrinking fiscal space and mounting climate catastrophes,” Guterres said.
However, he said that despite these challenges, Africa includes some of the world’s fastest growing economies with the potential to lead in the global energy transition.
“Strengthened public-private partnerships and multilateral cooperation are needed to advance inclusive, resilient and sustainable industrial development in Africa,” the UN chief added.
“A new financial architecture with greater access to finance and lower cost of capital is key unlocking investments at scale,” he stressed.
“We must work collectively to boost entrepreneurship, harness the potential of new technology, expand opportunities for youth, women and girls, build climate resilience and foster competitiveness and trade,” said the secretary-general, adding that “we must also work together to realize the objectives of the African Continental Free Trade Area, the African Union’s Agenda 2063 and the 2030 Agenda for Sustainable Development.”
Africa Industrialization Day was established in 1990 and is the day when a large number of African governments and organizations gather to examine various ways to stimulate the industrialization process in Africa.