African Development Bank Group to Launch 2024 African Economic Outlook

16 May 2024
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African Development Bank (Abidjan)
announcement

What: Launch of 2024 African Economic Outlook report

Who: African Development Bank President Akinwumi Adesina; African finance ministers and central bank governors; and international development partners

When: Thursday, 30 May 2024; 9:00-10:00 AM Eastern African Time (GMT +3)

Where: Tsavo Hall, Kenyatta International Convention Centre, Nairobi and online. Register here

The African Development Bank Group will launch the 2024 edition of its flagship African Economic Outlook (AEO) report on Thursday, 30 May 2024, during its Annual Meetings in Nairobi, Kenya.

Every year, the African Economic Outlook report provides vital, timely evidence and analysis crucial for African policymakers, empowering them to make informed decisions. The theme of the 2024 report, "Driving Africa's Transformation: The Reform of the Global Financial Architecture," aligns with the Bank's Annual Meetings theme.

Accelerating Africa's transformation is crucial for the continent to catch up with other regions globally and get back on track towards achieving the UN Sustainable Development Goals (SDGs), the African Union's Agenda 2063, and the African Development Bank's High 5s development priorities. This transformation is vital for the continent to effectively engage and thrive within global value chains.

The recurring and overlapping global shocks, alongside the rapidly widening financing gaps, highlight the pressing need for African countries to refocus their attention on structural transformation to build more resilient economies. This imperative arises amidst a global financial system characterized by declining concessional resources for development and increasing non-concessional resources due to rising interest rates.

The African Economic Outlook (AEO) 2024 report will take stock of Africa's progress in transforming its economy and sustaining development over the past decades. This assessment will examine the key drivers, constraints, gaps, and policy options. Forthcoming Regional Economic Outlooks and Country Focus Reports slated for publication later this year will provide additional in-depth analysis to inform regional and country-level policymaking.

The African Economic Outlook launch event has two segments: a presentation of the report's highlights and followed by a discussion of its findings.

Speakers

  • Dr. Akinwumi Adesina, President, African Development Bank Group
  • Kevin Chika Urama, Chief Economist and Vice President, Economic Governance and Knowledge Management, African Development Bank Group

Panelists

  • Prof. Njuguna Ndung'u, Cabinet Secretary, National Treasury and Economic Planning and Governor for Kenya.
  • Ms. Kaba Nialé, Minister for Planning and Development and Governor for Côte d'Ivoire.
  • Dr. Bärbel Kofler, Parliamentary State Secretary, Federal Ministry for Economic Cooperation and Development (BMZ) and Governor for Germany.
  • Mme Nadia Fettah Alaoui, Minister of Economy and Finance and Governor for Morocco.
  • Ms. Alexia Latortue, Assistant Secretary for International Trade and Development, U.S. Treasury
  • Ms. Nardos Bekele-Thomas, Chief Executive Officer, AUDA-NEPAD
  • Prof. Mthuli Ncube, Minister of Finance and Economic Development and Governor for Zimbabwe
  • Amb. Albert Muchanga, Commissioner for Economic Development, Tourism, Trade, Industry, and Mining, African Union Commission
  • Ms. Boitumelo MOSAKO, Chief Executive Officer, DBSA
  • Mr. Ismael Nabe, Ministry of Planning and International Cooperation, Conakry - Republic of Guinea
  • Mr. Claver Gatete, Executive Secretary, United Nations Economic Commission for Africa (represented)

The African Development Bank launched the 2024 Africa's Macro-Economic Performance and Outlook report (MEO) report on the sidelines of the 37th Ordinary Session of the Assembly of the African Union in Addis Ababa. The MEO is a comprehensive analysis of growth in the African region and complements the African Economic Outlook.

Join the conversation using the hashtags #AfDBAM2024 #AfricanEconomicOutlook2024 #2024AEO

Media contact: Emeka Anuforo, Communication and External Relations| [email protected]

Read the original article on African Development Bank (AfDB).

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