Commissioner for economic development, trade, tourism industry and minerals at the African Union Commission Albert Muchanga says the Agenda 2063 that the African Union adopted in 2013 aspires to build a prosperous Africa based on inclusive growth and sustainable development.
Mr. Muchanga said for this reason, the African continent is committed to achieving other global goals including the United Nations 2030 Sustainable Development goals (SDGs) and the 2015 Paris Agreement among others.
He said to achieve these goals Africa must find paths to hasten its natural resources in a sustainable manner and rapidly scale up economic growth.
Mr. Muchanga noted that this will also help enhance social wellbeing to improve the quality of lives of its citizens in the short, medium to long term.
ZANIS reports that Mr Muchanga said this today when he gave a presentation during the African Union Specialized Technical Committee meeting on the 5th Finance Monitoring Affairs Economic Planning and Integration meeting at Kenneth Kaunda International conference center in Lusaka .
Mr. Muchanga noted that to be inclusive and foster social cohesion, the benefits of economic growth must be distributed equally among citizens to reduce inequalities between the rich and the poor.
He said to be sustainable, economic growth in the short term must maintain the availability of natural resources to support the required levels of economic growth in the medium to long term.
Mr Muchanga added that the Covid 19 pandemic exposed the vulnerability of Africa’s health systems especially the high dependency on commodity exports and external finance debts remittance among others.
He observed that the levels of economic growth achieved over the years have not reached the minimum threshold levels required to lift millions out of poverty and take the path of sustainable economic prosperity.