A staggering US$6 billion to revitalize Africa’s economies decimated by COVID 19 and create resilience against future shocks has been mooted by two of continent’s major players with investments planned to support food and agriculture and technology enabled economies to accelerate sector economic recovery. The four-year -African Continental Free Trade Area (AfCFTA) and Equity Group Holdings initiative to run until 2025, the six-pillar pronged-master plan hopes to reverse losses in agriculture and other strategic sectors ultimately create over 50 million jobs by project end time. With AfCFTA and other partners driving the agenda, dubbed: “Africa’s Recovery and Resilience Plan”- the post-COVID 19 initiative hopes to showcase a framework for socioeconomic transformation for the African people and to help catalyse a natural resources-led transformation of Africa.
The focus seeks to enhance agriculture output, formalising extractive value chains, and connecting these primary sectors to global supply chains seemingly broken when COVID 19 reigned-decimating various economies and requiring diversification and secured sourcing to bring the continent to competition speed with developed economies. The six pillars are mooted around rebuilding Education and Leadership Development, Health, Food and Agriculture, Energy and the Environment, Financial Inclusion and Enterprise Development, and Social Protections which serve to leave no one behind in the recovery and resilience of the African continent, according to Dr. Mwangi.