PM Abiy says Africa Will Overtime be a Vital Linchpin to Global Economy

Addis Ababa March 22/2021 (ENA) There is no doubt that Africa will overtime be a vital linchpin to the global economy, however, it must do well in digital transformation, climate-smart economy and institutional framework, Prime Minister Abiy Ahmed said.

The 53^rd Session of the Committee of Finance Ministers under the theme: “Africa’s Sustainable Industrialization and Diversification in the Digital Era in the Context of COVID-19” was opened today.

Opening the session, Premier Abiy said Africa will account for more than half of the growth of the world’s population between 2019 and 2050 and the continents population, unlike the rest of the world, is projected to continue growing through the end of the century.

He stressed “in a world of shrinking working age population, Africa provides an abundant and increasingly educated workforce.

Ethiopia has approved National Digital Strategy to guide digital transformation, he said, adding “our renewed focus in the digital economy has started to attract large investments in the ICT Park mainly around data centers to enable data mining.”

Without a strong manufacturing base, we cannot build diversified national economy, Abiy said, and underscored “in Ethiopia we have made an extensive and targeted effort to attract and retain quality investors with sound capital and finance, strong technological transfer and export growth contribution potential.”

Premier Abiy further emphasized the need for Africa to unleash its endowed natural resources for green, wind and solar energy.

“The Grand Ethiopian Renaissance Dam (GERD) is one expression of Ethiopia’s boldness and agency to ride the waves of the energy disruption, rather than fall victim to it,” Abiy noted.

African women were not born to spend their days gathering firewood, Abiy stated, and added “through GERD we plan to light up every Ethiopian home and fuel every Ethiopian factory.”

Moreover, the Premier explained Ethiopia’s daring leadership to achieve planting 20 billion seedlings within four years as part of its ambitious climate resilient green economy strategy.

Ethiopia has planted 9 billion seedlings in the last two years while plans to plant 6 billion this rainy season.