Advancing Africa's Economic Agenda

Today, at the AU sidelines alongside fellow Heads of State President Nana Dankwa Addo of Ghana, President William Ruto of Kenya and other Heads of Government, we engaged in a dialogue on expediting the operations of the African Union on Financial Institutions that should be aligned with Africa's Agenda 2063 for Global Financial Architecture Reform.

Agreements were signed with Financial Business leaders to launch the 'Africa Club', the Alliance of African Multilateral Financial Institutions (AAMFI), a crucial platform to advance Africa's economic agenda globally. We called for a well established time line to achieve this important mission.

Emphasizing the importance of unity, we hoped that the platform would effectively present interventions in global markets that currently disadvantage Africa. We expressed concern about the undervaluation of African economies, thereby hindering economic growth due to a lack of headroom for a lower cost of capital.

Encouraging a shift towards revenue generation over consumption, we called for increased intracontinental trade to achieve self-sufficiency, recognizing the potential for economic advancement.

Hakainde Hichilema,

President of the Republic of Zambia.