Launch of the “Economic Report on Africa (ERA) 2016” by the United Nations Economic Commission for Africa (UNECA), 24 June 2016

govinn UN NAS

The Centre for the Study of Governance Innovation (GovInn) and the Postgraduate School of Agriculture and Rural Development invite you to the Launch of the 

“Economic Report on Africa (ERA) 2016” 

by the United Nations Economic Commission for Africa (UNECA)

Date: Friday, 24 June 2016
Time: 12:00 – 14:00
Venue: Room L1-70 Graduate Centre, University of Pretoria Main Campus (Hatfield)
RSVP essential: http://goo.gl/forms/jhMyy6gkH5hzyMRD2 by 22 June 2016
Queries: thinah.moyo@up.ac.za

African economies face risks that require special attention from policy-makers, including turbulence in the global economy. Africa’s vulnerability calls for a rethink of its broader development strategy. Despite robust economic growth in Africa (often higher than elsewhere in the world over the last decade), it has rarely been inclusive, the number of Africans in absolute poverty has risen and inequality remains a major issue. And because Africa’s growth has been largely tied to exploiting non-renewable natural resources—with minimal value added and employment generation—sustainable growth has been undermined.

These three strands—macroeconomic vulnerability, social inequality and natural resource dominance—weave into the argument that industrialization is critical for Africa’s structural transformation and efforts to create jobs, raise value added and increase incomes. Current developing-country models of economic growth, as exemplified by China and India, rarely account for the social and environmental externalities that exacerbate poverty in developing countries, Africa included. Given the commodity domination of its exports, its drive for industrialization and structural transformation, and its greater energy needs, Africa’s imperative is to adopt
green growth.

The report examines how greening the industrialization process can serve as an instrument of accelerated industrialization and structural transformation in Africa. A green economy is considered to improve human well-being and social equity, while sharply curtailing environmental risks and ecological scarcities. It integrates economic, social and environmental policies and focuses on new opportunities for economic growth that reduce pressure on the quality and quantity of natural capital systems. A green growth pathway will put Africa’s development on a more robust and sustainable foundation, since it not only accommodates growth of the economy but also prioritizes the need for restoring or increasing environmental and social assets.