To address the economic challenges African countries will face as a result of the COVID-19 pandemic, the Chairperson of the African Union, who is also the President, Republic of South Africa, Mr Cyril Ramaphosa, has appointed Dr Ngozi Okonjo-Iweala, Dr Donald Kaberuka, Mr Tidjane Thiam and Mr Trevor Manuel as Special Envoys of the African Union to mobilise international support for Africa’s efforts.
The Special Envoys will be tasked with soliciting rapid and concrete support as pledged by the G20, the European Union and other international financial institutions.
According to Channels TV, President Ramaphosa says: “In the light of the devastating socio-economic and political impact of the pandemic on African Countries these institutions need to support African economies that are facing serious economic challenges with a comprehensive stimulus package for Africa, including deferred debt and interest payments.
President Ramaphosa added that the impact of the Coronavirus pandemic has been global in both scale and reach, and this necessitates coordinated international action to capacitate all Countries to respond effectively, most particularly developing Countries that continue to shoulder a historical burden of poverty, inequality and underdevelopment.
The AU Chairman noted that the sentiment expressed in two recent letters written to the G20 by a group of world Leaders and a Team of esteemed Economist underscore the importance of bolstering health systems in poorer Countries; saying this can only be done with the support of the international community.
Dr Okonjo-Iweala, who is an internationally respected economist and development expert, had served two terms as Minister of Finance of the Federal Republic of Nigeria and also served as Managing Director of the World Bank.
Dr Kaberuka, an economist and former President and Chairman of the Board of Directors of the African Development Bank (AfDB), is the former Finance Minister of Rwanda and in 2016 was appointed as a Special Envoy of the African Union on sustainable financing for the AU and funding for Peace in Africa.
Mr Manuel, who was the longest-serving Minister of Finance in the Republic of South Africa and formerly headed the Country’s National Planning Commission, was, in 2018, appointed as an Investment Envoy by South African President to engage domestic and international investors as part of the Country’s national investment drive.
Mr Thiam, a Banker and Businessman, is the former Chief Executive Officer of Credit Suisse and also served as Chief Financial Officer and CEO of Prudential, with a background in management consulting and worked for McKinsey and Company.
The AU Chair said the appointment of the Special Envoys would expedite the process of securing economic support to enable Countries on the continent respond swiftly to the grave public health emergency, adding that the envoys brought with them a wealth of experience and enjoyed longstanding relationships in the international financial community.