Africa’s leading economists, policymakers, and private sector leaders have kicked off a three-day African Economic Research Consortium (AERC) Research and Policy Summit, a high-level forum dedicated to shaping pathways for sustainable and inclusive growth across the continent.
Hosted under the theme “A Renewed AERC for Africa’s New Development Priorities,” the summit brings together eminent scholars, central bank governors, and development partners to debate Africa’s evolving economic challenges and opportunities.
Reclaiming Africa’s Economic Narrative
Opening the summit, National Treasury Cabinet Secretary John Mbadi, in remarks delivered by PS Bonface Barasa Makokha, urged delegates to redefine Africa’s development model:
“Today, we must reclaim our narrative. We must define development not merely as GDP growth, but as inclusive prosperity, resilient systems, and dignified livelihoods. Africa’s Moment is Now.”
Mbadi emphasised that Africa’s reliance on foreign aid must give way to self-reliance and innovation:
“For decades, foreign aid has been a lifeline, but it has also been a leash — tying our progress to external goodwill rather than our own ingenuity. What we need is not more aid, but more courage to harness what we already have.”
Strategic Shift: AERC’s 10-Year Plan
AERC Executive Director Prof. Victor Murinde described the summit as a timely platform to address pressing macroeconomic challenges. He unveiled the AERC Strategic Plan (2025–2035), designed to strengthen Africa’s capacity for evidence-based policy solutions.
“This Research and Policy Summit reaffirms our commitment to rigorous, policy-relevant research and launches a strategy that nurtures a new generation of African economists ready to drive sustainable development,” said Prof. Murinde.
Private Sector Engagement
The summit also marked the launch of the African Private Sector Platform (APSP), a new initiative to deepen collaboration between researchers and industry.
AERC Board Chair Prof. Ernest Aryeetey noted:
“The launch of our new Private Sector Platform strengthens our commitment by creating a structured avenue for collaboration with industry, enabling evidence-informed advocacy and unlocking new opportunities for innovation and competitiveness across the continent.”
Central Bank Roundtable
A high-level roundtable brought together Central Bank Governors from Uganda, Zambia, and West African States, alongside leaders from South Africa and Central Africa, to discuss economic headwinds, policy coordination, and resilience strategies.
Market & Policy Impact
- Policy Direction: The summit signals a shift toward homegrown economic models, reducing dependency on aid and external prescriptions.
- Private Sector Role: The APSP could catalyse investment flows, innovation, and competitiveness, aligning research with market realities.
- Financial Stability: Central bank discussions highlight the urgency of coordinated monetary policies to withstand global shocks.
- Human Capital & Digital Economy: Parallel sessions on labour markets, climate resilience, and fintech point to Africa’s evolving growth drivers.
Why It Matters
For investors, policymakers, and development partners, the summit underscores Africa’s determination to chart its own economic destiny. With a renewed focus on self-reliance, private sector-led transformation, and evidence-based policy, the outcomes of the AERC Summit could shape both regional markets and Africa’s global economic positioning over the next decade.
