African Finance and Economic Association Collaborates with Department of Economics to host 2024 Economic Conference
The African Finance and Economic Association (AFEA) has, through a partnership with the University of Ghana’s Department of Economics, hosted an annual economic conference in Ghana.
The conference, with various sector academics and industry players, was on the theme "Strengthening African Economies: Targeted Innovations and Strategies for Inclusive Growth and Sustainable Development" and provided a platform for critical discussions on shaping the continent's financial and economic landscape.
Notable speakers included Emeritus Prof. Ernest Aryeetey, Former Vice-Chancellor of the University of Ghana, Mrs. Elsie Addo Awadzi, Second Deputy Governor of the Bank of Ghana and Prof. Augustin Fosu, Institute of Statistical, Social and Economic Research (ISSER).
Delivering welcome remarks at the opening ceremony, Dr. Gbadebo Odularu, President of AFEA, provided a brief overview of AFEA as a professional association for academics and practitioners in finance, economics and related disciplines, with interests in the development of Africa.
He highlighted AFEA’s purpose as a platform to promote the exchange of information and ideas among professionals in academia, business, government and other organisations. According to him, “AFEA also aims to promote research that advances knowledge on contemporary African development issues, encourage the internationalisation of business, economics, finance and related social sciences curricula and augment the available body of research and teaching materials on African economies.”
Dr. Odularu intimated that the AFEA conference would contribute significantly to addressing African socioeconomic problems, as experts from both academia and industry share in-depth knowledge regarding Africa’s growth.
Vice-Chancellor of the University, Prof. Nana Aba Appiah Amfo, expressed her delight and appreciation to the AFEA committee for choosing the University of Ghana to host the annual conference. She highlighted the need for increased research opportunities for women in economics and how their research outputs contribute greatly to Africa's development.
Prof. Amfo also stressed the importance of government structures in reducing unemployment among university graduates. In her speech, she highlighted key initiatives such as the Student Venture Support Programme and the One Student One Laptop initiative, which are designed to improve students' digital skills. “These measures are expected to lower unemployment rates and enhance the employability of undergraduate graduates,” the Vice-Chancellor said.
The keynote speaker, Emeritus Prof. Ernest Aryeetey, a former Vice-Chancellor of the University, provided an overview of how inflation has impacted the growth of the Ghanaian economy and beyond in recent years.
He further underscored the importance of government structures in improving citizens' lives, emphasising the need for effective governance and policies to drive economic growth and development in Africa.
The Emeritus Professor elaborated on Africa's vast economic potential and the need for governments to harness this potential through effective policies and investments. He urged the government to implement structures to support citizens and utilise research findings to build the economy.
The conference featured interactive sessions, break-out sessions and several presentations that focused on developing structures to drive Africa's socioeconomic growth. The remaining two days of the event were held online, allowing participants to continue discussions and share ideas that will contribute to Africa’s socioeconomic development.
The conference received support from various organisations including BigPay, JAFRIQ Radio, Gina Cambodian Jasmine Rice and Retail Financial Distribution.