Addis Ababa – United Nations Economic Commission for Africa (UNECA) Executive Secretary Claver Gatete urged African nations on Wednesday to bolster financial management and deepen continental trade integration as global economic headwinds intensify. Gatete delivered the call at the opening of the 48th Ordinary Session of the Executive Council of the African Union (AU) in Addis Ababa.
Gatete described a global economic landscape undergoing “profound transition,” citing slowing growth, escalating trade tensions, and the restructuring of supply chains. He warned that the traditional development model – exporting raw commodities, importing manufactured goods, and relying on concessional financing – is no longer sustainable. “The implication for Africa is clear – our development can no longer depend primarily on external conditions. It must increasingly be organized around our own continental economic system,” he stated.
The UNECA chief highlighted a confluence of challenges, including rising capital costs, declining development assistance, a deteriorating security environment, and persistent climate change. He emphasized that the world economy is shifting towards a focus on industrial strategy, geopolitical competition, and control of critical resources.
To navigate these complexities, Gatete proposed five key priorities for the continent. These include more effective mobilization and management of development finance, investment in integrated productive infrastructure, accelerated value addition through regional value chains under the African Continental Free Trade Area (AfCFTA), deeper continental market integration, and leveraging technology and data as essential economic infrastructure.
The Executive Council meeting, attended by foreign ministers from AU member states, is taking place under the AU’s 2026 theme: “Assuring Sustainable Water Availability and Safe Sanitation Systems to Achieve the Goals of Agenda 2063.” The session convened as African leaders grapple with the implications of a changing global economic order and seek strategies to foster self-reliance and sustainable development.
According to a statement released by the African Union, the meeting aims to address the challenges of securing sustainable water resources and sanitation systems, aligning with the broader Agenda 2063 goals for the continent. The discussions are expected to focus on innovative financing mechanisms and regional cooperation to address these critical issues.
