October 9-11, 2024

Dr. Abdalla Hamdok, the Alternate Chair of the Coalition for Dialogue on Africa (CoDA), chaired the Third Conference on Africa’s Economic and Financial Sovereignty, held at the African Union Headquarters in Addis Ababa from October 9-11, 2024.

In his opening remarks, Dr. Hamdok noted that the conference is taking place at a time when Sudan, a founding member of the Organization of African Unity, is facing the world’s greatest humanitarian tragedy today. He expressed his gratitude for the efforts made by the region and international partners in support and solidarity with the Sudanese people during their ordeal, hoping that joint efforts will contribute to finding solutions that will end the war and bring stability to the peace-loving Sudanese people.

Dr. Hamdok outlined the challenges facing the African continent amid a turbulent international environment and an unfair global economic order. He urged the conference participants to deeply discuss issues such as improving domestic resource mobilization, the debt crisis, and illicit financial flows out of Africa, in addition to climate change. To contribute to establishing a global system based on economic and financial justice, the conference needs to come up with proposals on: the thorough preparation of the African position in upcoming negotiations through the United Nations Conference on Tax Convention , proposals enabling the continent to engage with partners regarding the debt crisis, and ideas for reforming the international financial system to better meet the needs of the African continent, particularly in climate finance, foreign exchange liquidity , and added value within the framework of climate-related and sustainable development policies.

The conference was attended by economic experts from Africa, the North and South America , Europe, and Asia.