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THE African Development Bank (AfDB) has announced plans to launch its Strategy for Economic Governance in Africa (SEGA) on July 2.
SEGA is a five-year master-plan developed by the AfDB to revive economic activities in African countries in the wake of the devastating effect of the COVID-19 pandemic on the continent.
In a statement released on Friday, the AfDB said SEGA would serve as its operating manual for fostering public sector effectiveness at national and sub-national levels.
It is expected that SEGA would help to stimulate structural transformation in Africa, and ensure that citizens, communities and civic groups participate in public sector governance.
“Through the Strategy for Economic Governance in Africa, the Bank is building on its commitment to continue the gains in governance across Africa and improve the capability of its regional member countries to make economic development sustainable and inclusive,” the statement said.
The launch, which would take place virtually, is to be attended by ministers and other government officials and experts across Africa.
“It will highlight the action areas of the strategy that aim to support Africa’s development objectives in line with the Bank’s High 5 development priorities,” the statement added.
The Strategy for Economic Governance in Africa was developed after consultations with governments and non-state actors in countries across Africa and replaces the AfDB’s Governance Strategic Framework and Action Plan (GAP-II), which covered the 2014-2020 period.
The statement noted that the 2021 edition of the bank’s annual meetings was focused on ‘Building Resilient Economies in Post COVID-19 Africa.’