In a speech delivered during a debate on African development, Assembly President Philémon Yang spoke about the continent’s progress towards the Sustainable Development Goals (SDGs) and the African Union (AU)-related framework known as Agenda 2063.
“There has never been a better time to accelerate progress towards peace, prosperity and sustainable development,” he stated.
Special challenges
Mr Yang highlighted the recent approval of the Pact for the future recognizing the particular challenges faced by the most vulnerable countries, in particular African states, in implementing the Convention Agenda 2030.
He stressed that despite Africa’s vast energy and agricultural resources, many countries suffer from electricity shortages and food insecurity.
Furthermore, debt problems and an inequitable global financial system have increased Africa’s financial pressures, resulting in a $1.6 trillion development finance gap.
He called for a fairer financial system, stating that the current system “prioritizes high interest rates and debt servicing over investments in resilience and social services.”
The continent will need approximately $194 billion in additional financing annually to achieve the SDGs.
Call for global support
While Mr Yang acknowledged the bleak economic outlook, he also praised Africa’s resilience as economic growth in sub-Saharan Africa is expected to increase from 2.6 percent in 2023 to 3.8 percent in 2025.
He urged the global community to help transform Africa’s “untapped ingenuity” into solid foundations for inclusive growth, stressing that the continent’s growing workforce could be a key driver of transformative change.
“With more effective financial management, stronger mobilization of domestic resources and better use of debate as a development tool, African economies can strengthen and sustain their growth,” he said.
Peace and political solutions
Moreover, Mr. Yang underlined the importance of peace and political solutions to conflicts, especially in countries such as Sudan and Somalia. He called for legal and social reforms to address systemic barriers to justice and inequality, noting that “promoting peace and advancing the rule of law in Africa requires a comprehensive strategy.”
He concluded by pledging to keep Africa’s development at the top of the General Assembly’s agenda, emphasizing that “Africa must continue to rise” in its pursuit of a peaceful and prosperous future.
