ABIDJAN, Ivory Coast (XOL Africa) — Africa must shift toward greater domestic resource mobilization and align financial systems with productive sectors to accelerate industrialization and reduce reliance on external financing, the head of the United Nations Economic Commission for Africa said Friday.
ECA Executive Secretary Claver Gatete made the call during the joint ninth session of the Specialized Technical Committee on Finance, Monetary Affairs, Economic Planning and Integration and the fifth session of the Specialized Technical Committee on Trade, Tourism, Industry and Minerals.
Gatete said recent geopolitical tensions and supply chain disruptions had exposed structural weaknesses across African economies and underscored the need to strengthen domestic production.
“Economies that do not produce remain vulnerable,” Gatete said.
He urged African countries to prioritize industrialization by increasing value addition, expanding manufacturing and strengthening intra-African trade through the African Continental Free Trade Area.
Gatete outlined five priorities for advancing the continent’s industrial transformation: strengthening domestic resource mobilization, using public resources to attract private investment, accelerating regional value chains, investing in integrated and sustainable energy systems, and reinforcing Africa’s financial architecture.
He also stressed the need for greater coordination between government policies, warning that disconnected approaches could undermine efforts to build integrated economies.
“Fragmented policies cannot produce integrated economies,” Gatete said.
The ECA chief reaffirmed the commission’s commitment to helping member states strengthen fiscal systems, deepen capital markets and develop innovative financing mechanisms capable of unlocking Africa’s productive potential.
He also highlighted continental financial initiatives, including the African Financing Stability Mechanism and the Pan-African Payment and Settlement System, as important tools for mobilizing long-term investment and strengthening the continent’s financial resilience.
Gatete said the ECA would continue working with the African Union Commission, the African Development Bank and other partners to turn policy commitments into tangible economic outcomes.
The goal, he said, is to translate Africa’s financial and industrial policies into more industries, jobs and inclusive economic growth across the continent.
