New York, 20 November 2022

Countries across Africa are facing a perfect storm: armed conflicts, rising food and energy insecurity, skyrocketing inflation and debt, shrinking fiscal space, and mounting climate catastrophes.

Yet despite these challenges, Africa includes some of the world’s fastest growing economies with the potential to lead in the global energy transition.

Strengthened public-private partnerships and multilateral cooperation are needed to advance inclusive, resilient, and sustainable industrial development in Africa.

A new financial architecture with greater access to finance and lower cost of capital is key unlocking investments at scale.

We must work collectively to boost entrepreneurship, harness the potential of new technologies, expand opportunities for youth, women and girls, build climate resilience, and foster competitiveness and trade.

We must also work together to realize the objectives of the African Continental Free Trade Area, the African Union’s Agenda 2063, and the 2030 Agenda for Sustainable Development.

On Africa Industrialization Day, let us join forces to build a more sustainable, peaceful, and prosperous continent for all.