African regional conference on population and development ministerial segment: Statement by Carlos Lopes, UN Under-Secretary-General and Executive Secretary of ECA

Statement by Carlos Lopes UN Under-Secretary-General and Executive Secretary of ECA at the Africa Regional Conference on Population and Development Ministerial Segment. Mr. Lopes, on his remarks highlighted that, it is important for our Conference to understand what is propelling Africa’s growth. It is a complex mix of ingredients that include for sure our rich natural resources (to which we can add monthly new oil and mining discoveries, exceptional renewable energy potential and the largest reserve of arable land). But it is more than that. Two thirds of Africa’s growth is pulled by internal consumption. Growth is also the result of massive inflows of Foreign Direct Investment. FDI has been growing exponentially. regional integration, often considered the symptom of Africa’s unity becoming less a reality than a panacea, is also taking off, although not in the expected ways Governments have been negotiating for decades. Africa has more people living in cities than India and roughly the same as China. The industrial unit value for light manufacturing production is becoming more competitive than Asia’s. One needs to be blind or incredibly deceptive to not believe in the possibilities for industrialization this time around.