Global African Times represented by Maame Yaa Adu-Nketia
The 8th Ghana International Trade and Finance Conference (GITFIC), held in the prestigious auditorium of the Accra International Conference Centre, emerged as a pivotal forum for addressing critical strategies to enhance economic resilience and promote equity across Africa. The event, attended by Members of State from ECOWAS, SADC, EAC, Central Africa, and various diplomatic representatives, provided a dynamic platform for dialogue among influential government figures and media experts.
One of the focal points of the conference was the emphasis on inclusivity and equity, a contribution championed by Mrs. Ngonè Diop, Chairperson and Director representing the UN Secretary-General. Mrs. Diop elaborated on the importance of amplifying Africa’s voice. She said, “Unless we transform our economy, we will not have access to the right seat at the table.”
Mr. Selasi Koffii Ackom, CEO of GITFIC, played a significant role in steering the conversation, emphasizing that targeted development and responsible economic management are crucial for both economic growth and improving sovereign credit ratings across the continent. Mr. Ackom’s insights catalyzed discussions on the necessity of equal representation and a new Global Financial architecture as a driver of sustainable progress.
Ackom outlined several key strategies to strengthen economic resilience:
- Targeted Development: The conference highlighted the need for development initiatives tailored to marginalized groups, including women. By addressing these specific needs, African nations can create more inclusive economies that benefit all citizens.
- Prudent Borrowing: Effective debt management was recognized as essential for economic stability. Ackom stressed the importance of managing debt responsibly to prevent adverse effects on national credit ratings and vulnerable populations. Proper debt management enables increased investment in crucial areas such as education and healthcare, fostering overall advancement.
- Prudent Economic Management: Transparent and accountable economic management was identified as vital for long-term growth. Ensuring fairness in economic policies is necessary to create equitable opportunities for women and drive comprehensive economic progress.
- Additionally, the conference underscored the importance of developing metrics to evaluate the effectiveness of these strategies. Key indicators for measuring success include gender parity in political representation, the economic impact of transforming resources into value contributions, and improvements in sovereign credit ratings across African nations. Monitoring these metrics will be crucial for assessing the success of initiatives aimed at fostering inclusivity and economic resilience.
- To end with, the 8th Ghana International Trade and Finance Conference provided a significant platform for advancing discussions on economic resilience and equal representation in Africa. The event reinforced the need to integrate women into leadership roles and adopt strategic approaches to development, debt management, and economic governance. As African nations move into the future, implementing these strategies and properly evaluating their impact will be essential for achieving equitable and sustainable growth across the continent.
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