NAVIGATING SUSTAINABILITY AND GROWTH: AFRICA'S PATH TO A RESILIENT FUTURE

Eduard Marinov
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Eduard Marinov: New Bulgarian University; Economic Research Institute at the Bulgarian Academy of Sciences; Sofia, Bulgaria

Journal of Financial and Monetary Economics, 2024, vol. 12, issue 1, 227-239

Abstract: The pursuit of sustainable development in Africa is becoming increasingly critical in light of the exacerbation of environmental vulnerabilities resulting from climate change. Despite contributing less than 4% of global greenhouse gas emissions, the continent faces significant challenges, including droughts and energy access issues that threaten economic stability. This article examines the interdependent relationship between sustainability efforts and economic growth in Africa, proposing that a transition towards renewable energy can stimulate industrial growth and generate employment opportunities. A SWOT analysis is employed to facilitate a systematic evaluation of the benefits and challenges associated with the green transition, with particular attention paid to the potential barriers. The article presents some policy recommendations for integrating sustainability into national strategies and urges the global community to enhance support for Africa's green transition, with the objective of achieving a resilient future.

Keywords: Sustainability; Economic Growth; Renewable Energy; Climate Change; Africa (search for similar items in EconPapers)
JEL-codes: O55 Q01 Q5 (search for similar items in EconPapers)
Date: 2024
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