Young leaders propose new architecture for Africa's recovery

In a recent interview with CNBC Africa, Alia Jareld-Cirinder, the founder of Future Africa Forum, discussed the urgent need for African governments to rethink their strategies for economic recovery in the wake of the COVID-19 pandemic. Jareld-Cirinder and a group of 17 young African experts have published a policy brief titled 'Africa Beyond COVID-19,' laying out a roadmap for leveraging the capabilities of the private sector and community-based initiatives to build more productive, resilient, and equitable economies. The group argues that the current monetary and social policies are insufficient and that a partnership approach is necessary to address present and future crises affecting the continent. The policy brief emphasizes three key principles - productivity, resilience, and equity - as the foundation for their proposal. Productivity, according to Jareld-Cirinder, involves localized production of essential goods and services to reduce dependence on disrupted global supply chains. Resilience is crucial for economies to withstand shocks like the COVID-19 pandemic, enabling quicker and more effective responses at the local level. The call for equity stems from the recognition of socioeconomic disparities exacerbating social unrest, as seen in recent events in South Africa. During the interview, Jareld-Cirinder acknowledged that while governments across Africa had implemented reactive measures to combat the pandemic, there was a need to shift towards proactive preparedness. She advocated for cross-sectoral partnerships between the government, private sector, and social organizations to enhance the efficacy of interventions and ensure a more coordinated response to future challenges. One of the central themes discussed was the role of the private sector in driving recovery, specifically in areas such as pharmaceutical manufacturing. Jareld-Cirinder highlighted the need for conducive environments that foster innovation and growth within the private sector. She urged governments to engage with private enterprises to develop policies that incentivize investments in critical sectors, emphasizing the importance of local production for essential goods, including healthcare supplies. Addressing the attractiveness of the healthcare sector to private investors, Jareld-Cirinder proposed policies focusing on research and development, innovation subsidies, and government support for risk-taking in investment. Drawing parallels with global economic leaders like the US and China, she stressed the role of government as a key investor in driving innovation and economic growth. The interview concluded with a call for a paradigm shift in Africa's approach to economic recovery, with a greater emphasis on collaboration between public and private sectors, as well as community organizations. Jareld-Cirinder emphasized the need for a collective effort to address the challenges wrought by the pandemic and urged stakeholders to embrace a mindset of local production and innovation. The policy brief serves as a guiding framework for policymakers and stakeholders to work towards a more resilient and prosperous future for Africa's economies.