British News Agency

United Nations Secretary-General Guterres delivered a speech at the “Unstoppable Africa” event held as part of the Global Africa Business Initiative.

Guterres said Africa's future must be shaped by Africans, noting that the continent has the world's fastest-growing workforce, 30 percent of global mineral resources and 60 percent of the world's solar energy potential. He added that Africa represents a $3 trillion market opportunity.

Drawing attention to renewable energy investments on the continent, Guterres said Kenya generates more than 90 percent of its electricity from renewable sources, while Morocco is planning to develop a subsea cable to supply green electricity to Europe.

In the field of technology, he said Tunisia competes globally in artificial intelligence and computer vision software, while Rwanda has pioneered nationwide drone delivery applications. He added that Nigeria, South Africa and Senegal produce music and films for global audiences.

Guterres reported that Africa's economy grew by 4.4 percent last year despite global volatility, wars and other challenges. He said trade under the African Continental Free Trade Area is expected to reach $230 billion this year.

Guterres said tariffs in global trade have become more unpredictable, competition over critical minerals has intensified, and conflicts in Ukraine and the Middle East are affecting fertilizer, food and fuel supply chains, while costs and interest rates have risen.

Guterres said international support must be strengthened for Africa to achieve the Sustainable Development Goals and build inclusive prosperity. He stated that the international financial architecture must be reformed to better reflect the needs of developing countries, particularly Africa.

Guterres said multilateral development banks should be strengthened so they can provide more financing and also called for a significant increase in private financing and investment in Africa.

Guterres also said Africa's natural resources, particularly critical minerals, should create value and jobs within the continent instead of simply being shipped abroad, saying: “There must be no more plunder.”

Emphasizing the need to increase the participation of women and young people in economic life, Guterres said women account for more than half of business owners on the continent but receive only a very small share of investment.

Guterres said prosperity is not possible without political stability and sustainable development is not possible without peace, adding that Africa should use its own local mediation mechanisms in conflicts on the continent.

Guterres also said Africa should have permanent seats on the United Nations Security Council, arguing that international financial institutions and the Security Council do not adequately reflect Africa's presence and fundamental interests.

Guterres said Africa's influence in global markets and its international weight are increasing, adding that economic growth on the continent should primarily serve African people and secure their future.