President John Dramini Mahama has cautioned that despite the positive outlook, Africa faces significant challenges.
President Mahama said the continent was facing numerous challenges, including a substantial financing gap of approximately $402 billion annually until 2030. "Notwithstanding these positive trends, we must confront the reality that our growth has not always been translated into significant improvements in per capita income.
Structural transformation remains uneven with many economies still reliant on low productivity sectors," he said. "This financing gap is not merely a statistic," he said. "It represents the unrealized potential of millions of Africans whose dream for a better life depends on our ability to invest wisely in infrastructure, education, technology, and health, he said.
President Mahama, who is the Champion of African Union Financial Institutions was delivering the keynote address at the Heads of State and Government breakfast dialogue held at the AU Commission headquarters in Addis Ababa, Ethiopia on Sunday.
