Africa 2.0 - Harnessing Natural Resource Wealth for Economic Transformation

4 September 2013
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United Nations Economic Commission for Africa (Addis Ababa)
press release

Addis Ababa — The annual forum of policy makers, policy makers, economists and researchers working on African issues will be held on 7 October, in Paris, France.

The forum will be held against the backdrop of reversing the previous trend of the 1990s that has resulted in a positive structural transformation over the last 10 years. In addition, overall productivity has risen, with labour moving to more productive activities.

Analysts say note that with a growth projected at 4.8% in 2013 and a further 5.3 % in 2014, the medium-term economic outlook for Africa continues to be favourable despite headwinds from the global economy.

Yet, Africa economies face the formidable challenge of creating gainful employment opportunities for millions of people both by sustaining the pace of growth and by making it more inclusive.

The forum will discuss the need to create opportunities for sustainable employment and wealth creation and the need for Africa to make the most of its natural resources.

In this regard, concentrating on the sectors that hold promise for low skilled jobs and putting in place conditions for diversification and upgrading are key factors.

In addition, structural transformation and inclusiveness are fundamental to achieving this great potential. The organizers stress that Africa's abundant natural resource wealth can provide the base for this transformation.

Every year, more than 500 participants (ministers and high-level representatives of the private sector, academia, and civil society organisations) gather to discuss the performance of African economies and the major challenges faced by the continent.

The Forum is organised by the OECD Development Centre, in collaboration with the African Development Bank (AfDB), the United Nations Development Programme (UNDP), the Economic Commission for Africa (ECA), the French government and the European Union.

Issued by:

ECA External Communications and Media Relations Section

PO Box 3001

Addis Ababa

Ethiopia

Tel: +251 11 551 5826

E-mail: ecainfo[at]uneca[dot]org

www.uneca.org

Read the original article on UNECA.

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