Africa50 Acting COO Outlines Financing Solutions for Post-COVID Recovery
During a panel on Brainstorming for Investments in the New Normal at the Turkey Africa Economic and Business Forum, Acting Chief Operating Officer Opuiyo Oforiokuma highlighted the role of asset recycling in helping raise the domestic capital needed to build new infrastructure in the post COVID-19 recovery phase.
The COVID-19 outbreak shows the necessity of multilateral responses, international cooperation, and global solidarity, and the partnership of Turkey with Africa is an example. Before COVID, Africa was expected to have the highest economic growth rate in the world, and Turkey’s economic relations with African countries were progressing. The pandemic has changed the dynamics, although African countries’ experience with infectious diseases has helped them provide front-line health services, support continuation of projects, and keep economies afloat. Industrialization and investments in infrastructure are critical for economic recovery and employment and to achieve the SDGs. In this respect, Africa and Turkey could benefit from effective strategies for safety, efficiency, and productivity in sectors such as infrastructure, energy, manufacturing, agriculture, transport, and logistics.