Friday, July 12, 2024
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Mozambique highlights importance of natural wealth on African development agenda

The Minister of Transport and Communications, Mateus Magala, is in Nairobi, Kenya, participating in the annual meetings of the African Development Bank (AfDB), which take place from May 27 to 31, with the theme “Africa’s Transformation, the African Development Bank Group and the Reform of the Global Financial Architecture”.

According to the Club of Mozambique, the Mozambican minister will take part in a panel on “Measuring the Green Wealth of Nations: Natural Capital and Economic Productivity in Africa”. His speech will focus on the role of the AfDB and the mobilization of accessible, predictable and long-term financial resources for sustainable development in Africa.

Although the African continent has significant natural capital, including arable land, forests, renewable energy potential and mineral deposits, valued at around 6.2 trillion dollars in 2018, these resources are often exploited inefficiently. Most countries focus on extracting low value-added resources, ignoring the benefits of unproduced natural capital.

AfDB meetings provide an opportunity to share experiences on public debt management, climate finance and investment in sustainable infrastructure for green growth and a just energy transition.

 

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