AfricanUnion-ExecutiveCouncil Forty-ThirdOrdinarySession Statementby AntonioPedro ActingExecutiveSecretary UnitedNationsEconomicCommissionforAfrica(ECA) Thursday13June2023 Nairobi,Kenya

This comes on the back of a number of important events, where Africa has spoken in a loud unified and strong voice, namely the Conference on the Blue Economy and Climate Action in Africa: Island and Coastal States, held in Moroni, Comoros, the Summit for a New Global Financing Pact, held in Paris, France, as well as the 2023 Caucus of African Governors of the World Bank and IMFAfrican, held in Sal. [...] Excellencies, ladies and gentlemen The African continent has significant resources available to power a green and sustainable industrialization and make the AfCTA work for Africa First, for example, if we harness the full potential of the Congo River and build Inga III and IV, we will generate 70000 MW, which would benefit about 15 African countries. [...] Second, with its battery minerals, the continent has a commanding opportunity to be a global leader in the electrification of transport systems and deployment of solar and wind energy, critical transitions to meet the world’s zero targets. [...] To this end the development of the transboundary DRC-Zambia Special Economic Zone for the development of a battery and electric vehicles value chain could be a game changer, potentiating Africa’s participation in a global market worth $7.7 trillion by 2025 and $46 trillion by 2050. [...] The United Nations Economic Commission for Africa and the entire UN family stand ready to provide its support to this strategic agenda under the leadership of the African Union Commission, and in close collaboration with the Regional Economic Commissions and other stakeholders, through an integrated, coherent, and transformational ecosystem for change, the reinvigorated AU-UN Regional Collaborativ.