President Akufo-Addo has challenged Africans to have a change in mindset and dependency on aid to a more sustainable approach to bring development to the continent.
He said despite the abundance of natural resources, the continent has not seen the needed development due to the over-reliance on the production and exportation of raw resources.
Speaking at a High-Level Dialogue organised by the UNDP in Accra, President Akufo-Addo said the continent can and must take its destiny into its hands and move beyond aid.
The forum which is focused on “Africa’s Money for African Development, a Future Beyond Aid” seeks to among other things explore how the continent can optimize the use of its own resources to propel growth and development.
It will also examine the future of development in Africa and how to capitalise on the implementation of the African Continental Free Trade Agreement, AFCFTA as well as the opportunities emerging from the fourth industrial revolution.
The Director Regional Bureau for Africa (RBA) UNDP Ahunna Eziakonwa, in a remark, said optimizing Africa resources and reducing aid depicts critical in attaining the Agenda 2030 and Agenda 2060.
This she added is important to also help bridge the continent’s financial gap of 1.2 trillion dollars required to achieve sustainable development goals.
In the last decade, African economies have been growing at an average rate of 4.7%, but the challenge of creating jobs and designing agile responses to inclusive development remains.
International development partners have sought to support the agenda for growth by providing foreign aid and technical assistance to many countries for several decades.