UNDP: Global Conflicts Could Derail Africa’s Growth, But Opportunities Exist
UN body sees tech, integration as pathways to economic resilience despite uncertainties
The United Nations Development Programme (UNDP) has warned that global uncertainties stemming from ongoing wars could hamper investments crucial for Africa’s economic development, while highlighting potential pathways for growth despite these challenges.
“The rising trend towards protectionism can hurt African trade and slow Africa’s gross domestic product,” said Raymond Gilpin, UNDP’s chief economist and head of strategy for Africa, speaking at the conclusion of the 2024 African Economic Conference (AEC) in Gaborone, Botswana. He emphasized that Africa continues to face disproportionate impacts from climate change, affecting both “economic progress” and “the safety and security of the people and communities.”
However, Gilpin struck an optimistic tone about the continent’s future, drawing from insights presented at the conference. “If we are smart about it as a continent, we can ensure Africa’s economic future in spite of these uncertainties,” he said, outlining several key opportunities:
- Integration for scaling up operations
- Technological solutions for longstanding challenges
- Entrepreneurship to energize economic dynamism
- Leveraging demographic advantages
“These things do not just fill us with hope but also challenge our organisations at the AfDB, ECA and UNDP,” Gilpin noted, referring to the three institutions he described as “the most important and preeminent institutions on the African continent regarding development issues.”
The conference’s outcomes pointed to both “optimism about Africa’s economic future and the realism that empirical data was pointing us in certain directions,” Gilpin concluded, calling for action based on researchers’ findings.
