UNCTAD – 72nd Trade and Development Board Item 5 – Activities undertaken by UNCTAD in support of Africa

Mr. President,

My Delegation would like to thank UNCTAD for presenting the report of its activities in support of Africa.

Although Africa’s economy is projected to grow from 3.3 percent in 2024 to 3.9 percent in 2025, this falls short of the level growth needed to achieve the targets set out in the 2063 Agenda.[1] This is exarcebated by a policrisis, linked to economic challenges, technological obstacles, and climate-related shocks.

High debt servicing costs are holding back economic growth, with African countries estimated to spend an average of more than a quarter of their total government revenues on interest payments. This, in turn, restricts spending in other vital areas. For instance, between 2021 and 2023, Africa spent $70 per capita on interest payments, which is significantly more than the $63 and $44 per capita spent on education and health respectively.[2] Furthermore, this bleak situation is exacerbated by internal factors such as corruption, overreliance on commodity exports, and ineffective tax collection.

Moreover, technological evolution driven by artificial intelligence risks widening the development gap futher. To avoid this and ensure significant development gains for African countries, three elements are of fundamental importance. Firstly, AI requires proper ethical management and regulatory frameworks centered on the God-given dignity of the human person.[3] Secondly, African countries should receive technical assistance and capacity building to close the digital divide. Thirdly, investment in digital education and upskilling/reskilling is essential to equip individuals with the competencies needed to participate meaningfully in the evolving digital economy.

At the same time, Africa remains one of the continents most vulnerable to the effects of climate change, such as extreme weather events that cause food insecurity and destruction. Addressing this requires immediate adaptation measures and long-term strategies that combine environmental stewardship with sustainable development. The peoples of Africa are among the first to suffer the devastating effects of climate change, and in the words of Pope Leo XIV: “caring for creation, therefore, becomes an expression of humanity and solidarity.”[4]

Mr. President,

As recognized by the Geneva Consensus, poverty remains one of the greatest global challenges.[5] However poverty should not be understood merely as a lack of income; it is also the deprivation of capabilities, opportunities and, ultimately, hope. Multidimensional poverty affects areas such as education, health, access to technology and dignified living conditions. It demands a comprehensive response that places the human person at the center of all policies.

Therefore, combating poverty in all its forms and dimensions is not only about providing aid or financing, but also about providing the means to enable every person to fulfill his or her God-given potential.

Thank you.