Ensure transparent processes in financial resources towards pandemic recovery - TLP

The Transformation Leadership Panel (TLP), an initiative of the African Center for Economic Transformation (ACET) has called for a transparent process in the financial resources directed toward pandemic recovery.

The Panel said there was the need to ensure that financial resources earmarked for the recovery process were also accessible to those who needed them.

This came to light at a virtual meeting organized by TLP to assess the state of COVID-19 interventions in Africa so far, share lessons learned, and consider new avenues for policy action in support of African governments.

Other topics discussed included; accelerating digital innovation, encouraging business and investment, and mitigating the impact on vulnerable populations, including; women and youth.

A statement from ACET copied to the Ghana News Agency said more than two hours, panelists highlighted a variety of priority issues that could help economies rebound more quickly in the short term, while keeping Africa’s growth prospects—and transformation agenda—on track for the long term.

The statement said as Africa countries ramp up their responses to the novel coronavirus, increased collaboration between governments and development partners is needed to ensure that urgent priorities were addressed for both immediate and long-term needs, according to one group of global experts.

Quoting Madam Ellen Johnson Sirleaf, Former Liberian President who serves as TLP Chair, the statement said: “We are living in an extraordinary time, which calls for strong partnership, coordination, collaboration, and solidarity.

This is an opportunity for all governments-rich and poor, north and south—to think about reform that has been lacking for a long time.”

Quoting Dr. K.Y. Amoako, ACET Founder and President, the statement said: “Our intention is to work together to ensure African governments and their development partners remain engaged around these extremely relevant issues even as emergency measures continue to unfold.”

It said the sudden and dramatic impact of the COVID-19 pandemic has given new urgency to policy measures that would enable sustainable and equitable growth.

The statement said according to the World Bank, growth in sub-Saharan Africa could increase up to 5.1 percent this year.

Formed in July 2019, the TLP is a body of 17 eminent figures from Africa and around the world united by a shared vision and mission: to influence, support, and advise leaders on the critical and necessary action to achieve economic transformation in Africa by 2030.

The inaugural meeting of the TLP was held in Accra, Ghana in 2019.