SIFAX urges economic inclusion to tackle global instability

Dr Taiwo Afolabi, Chairman of SIFAX Group, has called for greater integration of economic investment into global conflict prevention strategies during a UN General Assembly discussion. He argues that infrastructure, employment, trade, and economic opportunities can address underlying issues that make societies susceptible to instability.

Speaking in New York, Afolabi emphasized that peace and prosperity are mutually reinforcing, and that the international community should shift focus from post-conflict response to preventive diplomacy, sustainable development, and economic inclusion. He noted that the world currently faces geopolitical tensions, economic uncertainty, climate pressures, inequality, and declining trust in institutions.

Afolabi stressed that Africa's peace-building efforts must be paired with investment in transport infrastructure, ports, energy, technology, manufacturing, agriculture, healthcare, and education to bolster development prospects. He also advocated for stronger regional value chains and improved connectivity across African economies, noting that the African Continental Free Trade Area's success depends on infrastructure, efficient logistics, digital systems, financing, and political cooperation.

Afolabi highlighted the private sector's crucial role in fostering economic connections that strengthen cooperation between communities, businesses, and countries, emphasizing that infrastructure and connectivity should be viewed as essential components of economic development and broader peacebuilding strategies.