The financial meltdown has exposed Africa’s vulnerability, notwithstanding a decade of solid progress, the APP said at the launch of its annual report at the ongoing World Economic Forum in South Africa. The key conclusion of the report is that Africa needs to drive its own development agenda as the basis for partnership and shared responsibility for progress.

“The global economic crisis can serve as a wake-up call for both African leaders and their international partners,” the Panel said.

The report launched in the presence of fellow panelists Graça Machel and Linah Mohohlo, stated that the global economic crisis imported from the North is hitting Africa harder than any other region. Nevertheless it presents “a unique opportunity” for Africa to pioneer a low-carbon development model. More investment is needed in Africa’s real economy, particularly infrastructure, renewable energy, agriculture and communications. The report notes that “investment in these sectors will not only generate jobs and boost trade in Africa, but also create markets for the world”.

The Panel stated: “We believe that, if given the chance, Africa can provide a valuable growth platform for the global economy and pioneer clean development models that contribute to global efforts to manage climate change”. Foreign direct investment in Africa illustrates the promising growth potential for the continent to become a reliable business partner for the world.

“Africa has transformed in my lifetime and the progress reached so far is proof that concrete achievements are possible amidst adversity,” Annan said. “The economic, climate change and food security crises are all linked. They cannot be tackled separately. We need a new development model that provides security, stability, and addresses peoples’ needs. Everyone needs to contribute. Business has a key role, as do Africa’s trading and donor partners. But the primary responsibility to make it happen rests with Africa’s political leaders.”

Africa now faces the extraordinary task, at a time of economic crisis, of maintaining stability and progress, including growth, poverty reduction and achievement of the Millennium Development Goals, the Panel said. Many countries are showing that determined leadership can bring about impressive results even in tough circumstances – for example, Rwanda, Mozambique, Malawi and Ghana. At a time when financial flows such as domestic revenues, investment and remittances are dropping, jobs, food security and health are all directly affected. Not just livelihoods but lives are at stake.
Calling for clear-sighted African leadership, the report stated that “primary responsibility for Africa’s progress rests with her political leaders”.

Click here for the full report