Monday, June 21, 2021

AfDB To Launch Strategy For Economic Governance In Africa

FILE PHOTO: The headquarters of the African Development Bank (AfDB) are pictured in Abidjan, Ivory Coast, September 16, 2016. Picture taken September 16, 2016. REUTERS/Luc Gnago/File Photo - RC196B9DEF90

THE African Development Bank (AfDB) has announced plans to launch its Strategy for Economic Governance in Africa (SEGA) on July 2.

SEGA is a comprehensive five-year Strategy to revive economic activities in African countries in the wake of the devastating effect of the COVID-19 pandemic on the continent.

The strategy will serve as the Bank’s operating manual for fostering public sector effectiveness at national and sub-national levels by stimulating structural transformation in Africa, and ensuring that citizens, communities and civic groups participate in public sector governance.

In a statement released on Friday, the AfDB said SEGA would serve as its operating manual for fostering public sector effectiveness at national and sub-national levels.

“Through the Strategy for Economic Governance in Africa, the Bank is building on its commitment to continue the gains in governance across Africa and improve the capability of its regional member countries to make economic development sustainable and inclusive,” the statement said.

The launch, which would take place virtually, is to be attended by ministers and other government officials and experts across Africa.

“It will highlight the action areas of the strategy that aim to support Africa’s development objectives in line with the Bank’s High 5 development priorities,” the statement added.

The Strategy for Economic Governance in Africa was developed following consultation with governments and non-state actors across Africa. It replaces the Bank’s Governance Strategic Framework and Action Plan (GAP-II), which covered the 2014-2020 period.

We would like to keep you updated with special notifications.