African Development | Over 3 000 participants meet to mobilise resources

Added: 2026-05-27

[00:00:00]Let's also continue with our the news at the sour, perhaps turning our attention to some continental matters. Over 3,000 participants, including African leaders, ministers, development practitioners, and trade experts alike gathering in Congo-Brazzaville to look at ways to mobilize resources for Africa's development. Now, this also coincides with the energy crisis stemming from the current standoff in the Gulf. African Development Bank Group President Akinwumi Adesina will also outline his vision in tackling these challenges and perhaps how to cushion member states from the devastating shocks. So, for more on this, we're actually going to be crossing live to our reporter Kylie Kumalo, who is in Congo-Brazzaville at this point. I mean, Kaya, center stage is the economic outlook of Africa tapping on the backdrop of another Ebola outbreak as well. Perhaps if we look at the index that had also been, um, you know, released, the industrialization index, the significance of this now that Morocco also takes center stage and what this also means for growth and development at launch.

[00:01:05]Well, certainly, Liesl, quite a very key parameter in terms of, really, the measures within the African Development Bank Group. So, it's one of the very key indicators in terms of how they're gauging the level of industrialization on the African continent. In fact, so, they do indicate that Morocco has overtaken South Africa in terms of competitiveness, but also, when you look at the export diversification.

[00:01:31]But, also, it does make it very explicitly clear, Liesl, that South Africa remains the continent's powerhouse, albeit it is losing the competitiveness edge, but also really indicating that there's a massive revolution underway in Africa. There's an industrial transition that is irreversible in the continent. Also, they do indicate that over 40 countries in the continent are really implementing a number of policies that are showing that they are yearning to see the industrialization. That is very key, Lizel, in terms of making sure that the countries are able to create jobs for the young stars. I mean, more often than not in Africa, they do talk about the youth bulge. So, the young stars, they're desperately looking for jobs.

[00:02:17]But, also another very concerning issue that has really come out of the reports, Lizel, has to be around the issue of intra-Africa trade that remains quite a very enormous concern. So, it still raises about 14% to about 20%. So, there's quite a lot to be done by the countries in terms of accelerating that.

[00:02:39]But, also when you look at the value addition in the continent as well, that was one of the very major issues that was raised that a lot should be done in terms of really just remodeling and overhauling the whole system of pit supports where really the raw materials are taken out of the continent. But, also a very key key issue as well that has been raised by the bank and its partners, Lizel, will have to be around the economic outlook in the continent.

[00:03:07]So, they're expecting their growth in the continent to grow at about 4.4% and obviously they do talk about a very subdued level when you talk about Southern Africa, for example, especially given the very global energy crisis. You know that quite a sizable significant countries in Southern Africa, for example, are oil export exporting countries.

[00:03:30]And obviously you do have some exceptions, the likes of Angola. But, very good news for the likes of countries located here in Central Africa, Lizel, the likes of Congo-Brazzaville. You know that with the demand for oil, with them, they're really just looking into tapping into these opportunities that are really presented by the crisis. Like they always say, there's a always a crisis and there's always a very good opportunity to be used in the crisis.

[00:04:00]All right, Kaya. We obviously looking at what the shifting geopolitical landscape is also going to mean for the continent at large. Perhaps also which sectors is particularly when it comes to renewable energy, the mobilization of the youth as well.

[00:04:16]And perhaps what's happening in the wake of that Ebola crisis there. So let's monitor it alongside you.

[00:04:22]Perhaps also looking at the diversification that has aided Morocco to really rise to the top of that index.

[00:04:29]Thank you for that update there, Kaya Kumalo.