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Africa: Leaders must define a new growth model, says Mo Ibrahim

17/06/2021
Categories: Economy/Forex

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The Mo Ibrahim Foundation recently published the report entitled “A Year of COVID-19 in Africa: Impacts and Prospects” which highlights the structural vulnerabilities revealed by the pandemic and highlights the importance for the continent of defining a more autonomous growth model. In this capacity, Mo Ibrahim, founder and president of the Mo Ibrahim Foundation, gave an interview to 'Financial

Afrik'.

The 2021 Ibrahim Forum Report demonstrates in particular that the impact of the pandemic on the African continent has been particularly severe economically and socially, that this crisis has highlighted the structural vulnerabilities of the continent's health systems and economic growth model, and that it is therefore necessary to grasp the opportunity to rebuild on the basis of a renovated model.

“The impact of the pandemic has indeed highlighted the profound underlying crisis in African health systems, due to a crucial lack of political and budgetary commitment on the part of African governments. Moreover, young people and women have been hit the hardest, and declines in education and employment opportunities are exacerbating existing challenges, at the risk of creating new sources of instability. Finally, the economic shock caused by the pandemic has highlighted the structural fragility of African economies, which are all too often excessively dependent on the outside world, both in terms of supply and demand,” explained

Mo Ibrahim.

However, he remains convinced that every crisis presents an opportunity for change. “This global crisis is an opportunity or never before to build a stronger, more united, more autonomous and more self-sufficient Africa,” he said. According to him, Africa can define and focus its efforts on a sustainable post-COVID-19 recovery, provided that it strengthens the continent's integration, puts youth at the heart of recovery and strengthens good governance.

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