The United Nations Economic Commission for Africa (ECA) convened a one-day Ad-hoc Expert Group Meeting (AEGM) in Addis Ababa, Ethiopia, on 17th October 2016, to review the background paper of the fifth edition of the African Governance Report (AGR V) themed Natural Resource Governance and Domestic Resource Mobilization for Structural Transformation in Africa.
The meeting gathered experts from the academia, international organizations, government, tax administration agencies and the African Union Commission.
The overall objective of the EGM was to review and provide input to the background paper of the AGR. The EGM also aimed at discussing best approaches to conceptualizing key issues, defining scope, identify gaps and propose relevant sources of data.
The selected theme for the next African Governance Report: Natural Resource Governance and Domestic Resource Mobilization, is opportune and appropriate. Africa has an ambitious plan for structural transformation rooted in Agenda 2063. However, the continent lacks sufficient financial resources to implement this vision despite the abundance of natural resources in many countries. Africa's resource wealth is often associated with the distortion of incentives for economic diversification and transformation. This is partly attributed to weak economic governance but also the lack of resource-based planning. Given the fall in commodity prices, policy makers face tough policy choices in raising adequate domestic resources for financing development through natural resource exploitation. Against this backdrop, the AGR V will seek to underscore the central role of resource-based planning and good economic governance in the exploitation of natural resources for structural transformation and sustainable development.
The key message of the AGR V is that Africa needs long-term development plans and visions that clearly articulate objectives of structural transformation and inclusive development as well good economic governance institutions to effectively harness its vast resources.
The main outcome of the EGM was an agreed approach to conceptualization of issues, clarity on methodology as well as scope and structure of the Report.
The final AGR V will be validated at an AEGM in 2017 and officially launched at the Conference of African Ministers of Finance and Economic Development in Addis Ababa, Ethiopia in 2018.
Source: United Nations Economic Commission for Africa ( UNECA ).