Sustainable and effective recovery from the economic downturn caused by COVID-19 in Africa is dependent upon five key ingredients, argues Amujae Leader Malado Kaba.
In a recent op-ed published in African Business, Ms. Kaba wrote that women are Africa’s greatest untapped potential. Unleashing their power can contribute to effective post-pandemic recovery and have a transformative effect on economic growth across the continent.
The most essential ingredient is gender equality, explained Ms. Kaba, as significant obstacles to women’s meaningful contribution to the economy remain:
“We must take a holistic approach to tackling social and cultural norms, as well as other financial and legal impediments. Determined male decision-makers must also work alongside women to bring about change for stronger, more inclusive, and sustainable growth.”
Other ingredients, Ms. Kaba wrote, include implementing regional economic integration across the continent, reforming the approach toward the informal sector, and securing sustainable funding in national economies.
Adding good governance as the final ingredient, Ms. Kaba argued that it allows economies to flourish by increasing the effectiveness of public services, reducing corruption and attracting more development funding.
Ms. Kaba noted that the solutions presented should “provide food for serious thought” for policymakers:
“Policymakers will be judged by their ability to skillfully combine them to create a post-COVID-19 economic recovery that will lay the foundations for a better future and prepare our continent for the global challenges ahead.”
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