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Zlecaf: Huge potential to reduce poverty and inequality, according to UNCTAD

15/12/2021
Categories: Sectors

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The contraction in growth due to the Covid-19 pandemic in Africa may be limited by the African Continental Free Trade Area. This is revealed in the 2021 Report of the United Nations Conference on Trade and Development (UNCTAD) on "Economic Development in Africa", published on December 08, 2021.

The United Nations Conference on Trade and Development (UNCTAD) remains convinced that the African Continental Free Trade Area is the key to moving towards sustainable and inclusive growth on the African continent, in particular with more support measures. strong targeting women, young traders and small businesses. According to the institution's new report published on December 08, 2021 on "Economic Development in Africa", trade policies alone are not enough to support inclusive economic growth on the continent.

According to the study, further measures are needed to increase the potential gains in terms of regional integration and contribute to inclusive development. This is to promote cooperation in promoting investment and competition policies, accelerating the financing of infrastructure that facilitates rural-urban linkages and equal access to socio-economic opportunities and productive resources. . According to the report, growth has only been inclusive in 17 of the 49 African countries for which sufficient household data between 2000 and 2020 is available. In 18 African countries, economic growth has reduced poverty, but with rising inequality.

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