Minister of Finance and Coordinating Minister of the Economy, Wale Edun, has called for accelerated implementation of economic reforms and stronger domestic resource mobilisation across Africa to finance development, job creation, and long-term growth.
Speaking on the sidelines of the G20 Investment Breakfast Dialogue in Johannesburg, Edun said the continent must move quickly to strengthen policy frameworks capable of attracting investment and improving national revenue performance.
“We must accelerate bold economic reforms and strengthen domestic resource mobilisation to finance investments, jobs, and long-term development,” he stated.
Edun delivered the keynote address at a forum convened by MTN, attended by CEOs from South Africa, the Nigerian Investment Promotion Commission (NIPC), development partners, and other private sector leaders.
He said Africa is meeting at a moment of profound global economic change, requiring deeper regional cooperation, stronger policy alignment, and an investment environment anchored on stability and reform.
The Minister identified four major disruptions redefining the economic outlook for developing regions.
First, global trade dynamics are shifting away from rules that previously favoured economies like China, India, and Brazil. Second, access to global capital has tightened substantially, leaving African economies more exposed to debt pressures.
Citing African Development Bank findings, Edun noted that many developing nations now spend more on debt repayments than they receive in development assistance, making self-financing through improved tax systems, governance, and economic reforms more urgent than ever.
