Kinshasa, 02 November 2015 (ECA) – African leaders gathered at the African Economic Conference taking place in Kinshasa from 02- 04 November said to reduce poverty and inequality Africa needs inclusive economies and quality growth with fair distribution.
Setting the tone for the conference titled ‘Addressing poverty and inequality in the post-2015 development agenda’, the Speaker of the Senate of the Democratic Republic of Congo, Mr. Léon Kengo outlined the challenges and ambiguities facing African economies.
“It is generally accepted that Africa has recorded strong economic growth in the last decade. However in spite of all these efforts, poverty and inequality continue to thrive,” said Mr. Kengo during his opening remarks.
“It is clear it’s not enough to record impressive economic growth to enjoy the fruits of this growth. Fair distribution of the fruits of growth is what is needed,” declared Mr. Kengo.
Mr. Carlos Lopes, the Executive Secretary of the Economic Commission for Africa, in his opening address stated that “eradicating poverty while stimulating prosperity is the biggest challenge for Africa today”.
Mr. Lopes also pointed out that there has been “high growth yet the reality is different”. He criticised what he views as “growth without quality.”
“Africans celebrate the potential, more than the results,” said Mr. Lopes thereafter explaining that to achieve results, “African states have to insist on inclusion, employment creation, and the reduction of poverty”.
The continent has made great strides in many areas such as women’s participation in politics and reducing child mortality acceded Mr. Lopes whilst also pointing out that “inequality cannot self-correct; it will keep representing itself in each generation therefore we must fight it”.
The most pressing inequality to fight, Mr. Lopes believes is the revenue inequality evidenced by the growing wealth gap between the richest and poorest citizen.
The Acting Vice-President of the African Development Bank, Mr. Steve Kayizzi-Mugerwa challenged African states to address extreme poverty. “Africa must raise the welfare of its people and not just talk about it. It must reduce inequality and improve access for women,” he stated.
Mr. Kayizzi-Muregwa warned countries that labels and narratives such as ‘Africa rising’, ‘African Lions’ do not mean much if they are not combined with national efforts to develop and eliminate poverty.
Mr Abdoulaye Mar Dieye, the UN Assistant Secretary General and Director of UNDP Regional Bureau for Africa asserted that “we need a new approach to development and sustainable management of capital and land if we are to overcome poverty”.
He proposed countries build and consolidate a developmental state with a long vision and integrity.
As Mr. Lopes stated “no doubt that structural transformation of Africa will lead to unexplored territories and that there are no maps,” this 10th African Economic Conference, being held for the first time in Kinshasa, therefore provides an opportunity for fresh and innovative ideas on ways to fight poverty and inequality.
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