AfDB to launch 5-year strategy for economic governance in Africa

The African Development Bank is set to launch a comprehensive five-year Strategy for Economic Governance in Africa (SEGA).

This was disclosed by AfDB in a statement seen by Nairametrics.

According to AfDB, the strategy will serve as the Bank’s operating manual for fostering public sector effectiveness at national and sub-national levels by stimulating structural transformation in Africa, and ensuring that citizens, communities and civic groups participate in public sector governance.

It added that it is designed as the Bank’s master plan for building back better following the economic devastation of the Covid-19 pandemic.

It stated, “Through the Strategy for Economic Governance in Africa, the Bank is building on its commitment to continue the gains in governance across Africa and improve the capability of its regional member countries to make economic development sustainable and inclusive.

The event will be attended by government ministers and other senior officials and experts from all over Africa. It will highlight the action areas of the strategy that aim to support Africa’s development objectives in line with the Bank’s High 5 development priorities.

What you should know about EGA

The Strategy for Economic Governance in Africa was developed following consultation with governments and non-state actors across Africa. It replaces the Bank’s Governance Strategic Framework and Action Plan (GAP-II), which covered the 2014-2020 period.

The launch followed the Bank’s Annual Meetings, which focused on “Building Resilient Economies in Post Covid-19 Africa.”