Counting the cost of Africa's economic future
Africa’s growing political democracy is opening up the continent to new investment opportunities as well as risks especially in nations where political transition has not been smooth. CNBC Africa is joined by Ronald Osumba, Senior Political Advisor, Tony Blair Institute to gauge the cost of politics and how Africa can navigate her way into a prosperous future.
Fri, 07 Jun 2024 11:10:27 GMT
Disclaimer: The following content is generated automatically by a GPT AI and may not be accurate. To verify the details, please watch the video
AI Generated Summary
- The importance of political leaders finding strategies to fulfill electoral promises amidst complex challenges and leveraging technology to enhance public services' efficiency
- The progress in Africa's democratic evolution, including improvements in electoral processes and the need for increased investment in digital infrastructure to bolster transparency
- The significance of leadership continuity, stability, and global integration to instill confidence among citizens and attract investments for sustainable growth
Africa's political landscape is evolving, opening up new avenues for investment and growth on the continent. With the continent poised to grow by about 3.7% in 2024, it's crucial to understand the key assessments made by experts like Ronald Osumba, Senior Political Advisor at the Tony Blair Institute. Osumba highlights the importance of political leaders finding strategies to deliver on their promises amidst complex challenges. He emphasizes that Africa's increasing democracy, along with a more literate and connected population, is driving leaders to be intentional about fulfilling electoral commitments. The Tony Blair Institute works with political leaders to tackle intricate issues by offering practical solutions through strategic planning, policy reform, and leveraging technology to enhance public services' efficiency. Osumba underscores the progress in Africa's politics, noting the rise of regular, democratic, and mostly free and fair elections despite some ongoing election infrastructure challenges. The Institute also focuses on improving institutional capacity to enhance transparency, accountability, and coherent governance across different sectors. While political tensions may arise in some countries during elections, Osumba asserts that Africa is witnessing a maturation of its electoral processes, calling for increased investment in digital infrastructure to bolster transparency. He argues that a majority of recent elections have been viewed as credible and fair, showcasing progress in the continent's democratic evolution. Moving forward, Osumba stresses the importance of leadership continuity and stability to instill confidence among both citizens and investors. He emphasizes that smooth transitions of power are vital for sustaining economic growth and attracting investments. Despite instances of abrupt regime changes in some nations, Osumba advocates for leaders to prioritize social and economic continuity, maintain geopolitical stability, and uphold their countries' place in the global community. Ultimately, navigating Africa's political landscape requires a balanced approach that fosters prosperity while addressing key challenges and ensuring sustainable growth.
