At UBA web summit, leaders outline path for Africa’s Recovery

Some global business leaders and African presidents have stressed the need for policymakers in the continent to look inward and adopt measures to create enabling environment for businesses to thrive post-COVID-19. This, they said, is vital in rebuilding the African economy that has been damaged by the virus. The leaders and experts made the call yesterday at the United Bank for Africa’s (UBA) 2020 Africa Day Conversations, with the theme: “Growth, Jobs, and Sustainable Development Amidst a global Pandemic,” that was moderated by the Chairman of the bank, Mr. Tony Elumelu. Some of the panelists included President of Senegal, Mr. Macky Sall; President of Liberia, Mr. George Weah; United States Senator, Mr. Chris Coons; President, International Committee of the Red Cross (ICRC), Mr. Peter Maurer; President and Founder, Africa CEO Forum, Amir Ben Yahmed; Donald Kaberuka. Elumelu reiterated the need for job creation and for empowering youths in Africa. Elumelu, who is also the Founder of the Tony Elumelu Foundation, spoke on the need to mobilise everyone and explained the necessity to discover a more fundamental solution to Africa’s challenges through collaborative efforts. He said: “This is the time for us to deal with the situation we have and also forge a better situation for everyone, acting again collectively. “This is not the time for finger-pointing but for a collaborative effort by governments and organisations to fight the pandemic globally.” Elumelu called for cooperation among stakeholders if Africa is to have a quick recovery from the pandemic. “There is a need to flatten the curve, we need global co-operation to stem global depression. Africa requires a large stimulus package and we need long-term solutions to prevent a cycle of debt,” he added. The President of the African Export-Import Bank (Afreximbank), Prof. Benedict Oramah, who was also among the panelists, said Africa must leverage the opportunities that the African Continental Free Trade Agreement (AfCFTA) provided to facilitate trade and economic growth in the region