Addis Ababa, Ethiopia, 27th January 2016:The African Union (AU) Commissioner for Economic Affairs, H.E Dr. Anthony Mothae Maruping, during his press conference at the margin of the 26th AU Summit which brought together renowned media representatives from all over the continent, highlighted the various setbacks that are gradually slowing Africa’s economic advancement. Commenting on the drop of prices on Africa’s commodities on the global scale and the pressing issue of natural disasters like drought and floods which affects agricultural production and economic growth, Dr Maruping said that there is need for increased diversification for African countries to move away from dependency on rain fed agriculture.

Dr. Maruping also blamed the commodity demand drop on the current currency depreciation due to large interest rates in developed countries which supplements the inflation and foreign currency denominated public debt and has led to rising unemployment rates, income inequalities, erosion of tax base and low public revenue inflows. All this, the Commissioner said, worsened by the rapidly growing population on the continent has placed the continent in a difficult situation to face the challenge of economic crisis.

However, the Commissioner heighted some of the measures taken by the AU Commission to overcome these economic crises. (Attached is the press statement of Commissioner Maruping outlining the efforts of the AU Commission to tackle the economic crisis). The Commissioner while addressing the all so inquisitive journalists lauded the African Union Commission for spear heading the domestication of Agenda 2063 and its first ten year Implementation plan, he noted that considerable progress is being made as already member States are highly receptive of this agenda and are already integrating it in their national and regional strategic frame works as well as action plans.

Commissioner Maruping further went on to stress that this year 2016 is a year to pursue logical conclusion of the unfinished work so as to build capacity for the implantation of Agenda 2063 and that already plans are under way to operationalise the African Monetary Fund in Yaoundé, Cameroon, Pan African Statistics Training in Yamoussoukro, Cote d’Ivoire, Pan African Statistics Institute in Tunis, Tunisia, all these esteemed institutions will be instrumental in facilitating resource mobilisation and monitoring of illicit financial flows that continue to leave the continent in debt.

The Commissioner in his conclusion echoed the AU Commission Chairperson, Dr. Nkosazana Dlamini Zuma’s remarks on Agenda 2063 during the opening of the 28th Ordinary Session of the Executive Council on 27 January 2016 at the AU Headquarters in Addis Ababa, Ethiopia. He said this is not only a program of the AU but also for African people in all their various diversities and that contributions from all sectors are welcomed and pertinent for the realisation of this dream. The Commissioner of Economic Affairs called on the journalists to fully take part in the implementation of Agenda 2063.

BM/EAT

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Media inquiries should be directed to:
Mrs Esther Azaa Tankou| Ag. Director of Information and Communication | African Union Commission | Tel: +251 (0) 911361185 | Fax: (251) 11 551 78 44 | E-mail: yamboue@africa-union.org|

For further information:
Directorate of Information and Communication | African Union Commission I E-mail: DIC@african-union.org I Website: www.au.int I Addis Ababa | Ethiopia

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The African Union spearheads Africa’s development and integration in close collaboration with African Union Member States, the Regional Economic Communities and African citizens. AU Vision: to accelerate progress towards an integrated, prosperous and inclusive Africa, at peace with itself, playing a dynamic role in the continental and global arena, effectively driven by an accountable, efficient and responsive Commission. Learn more at: http://www.au.int