Integration of Economic Activities is Necessary in Africa – Angola VP

Angolan Vice-President, Manuel Vicente

The Angolan Vice-President, approved Manuel Vicente has said that there is no sustainable development while there is poverty.

This he mentioned during the recently held African Caucus forum which assembles more than nineteen Ministers of Finance and fourteen Governors of the Central Banks.

In his opening speech Manuel Vicente, representing the President of Angola, José Eduardo dos Santos noted that African countries must have a more comprehensive outlook, integrating the diversification of the economy based on national and regional value chains in potential competitive sectors.

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“In truth, we have to add more value to our resources, whether in the directly productive activities or through infrastructure and additional or supporting activities such as, transport and telecommunications systems, banking and financial systems generating integrated development hubs,” he said.

According to a report published this year on Competitiveness in Africa, infrastructure vulnerability is one of the reasons for the poor diversification and weak competitiveness of the economy in Africa.

Discussion panels for the opening day included regional economic outlooks, economic transformation and diversification, combating illicit financial flows to improve mobilization of internal resources, environmental and social safeguards.

The forum assembles more than nineteen Ministers of Finance and fourteen Governors of the Central Banks representing approximately forty member countries of the African Caucus, including Angola.

The African Caucus was created with the aim of preventing African Governors from presenting in the Annual Meeting of the IMF and WBG the economic and financial problems that affect the respective countries alone.


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