Morocco Gears Up to Host African Development Forum [Star Africa]
Morocco continues to be one of the most prominent venues for international events, as the next host of the African Development Forum is set to take place in Marrakesh:
Marrakesh will host a number of African leaders as part of the 9th African Development Forum. The Forum takes place every two years and is organized by the Economic Commission for Africa (ECA), Africa’s most important policy think tank.
A press release issued here Wednesday says this is the first time the event is being held outside Addis Ababa, Ethiopia, where the ECA is headquartered and this year the Forum will discuss innovative ways to fund Africa’s transformation at the 9th African Development Forum.
According to reports and ECA findings, Africa requires approximately $200 billion annually to finance sustainable development, promote climate change adaptation and mitigation, and enhance economic resilience and competitiveness. Africa’s infrastructure requirements alone are estimated at some $90 billion per year.
The continent must embark on reforms to capture currently unexplored or poorly managed resources. This includes curtailing illicit financial flows and rather transforming those funds into a powerful tool for enhancing domestic resource mobilization, as a way of furthering the continent’s development…[Full Story]