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    MarketForces Africa » Inside Africa » Africa Loses $18bn Annually Due to Conflict – African Union

    Africa Loses $18bn Annually Due to Conflict – African Union

    Ogochukwu NdubuisiBy Ogochukwu NdubuisiJanuary 27, 2025 Inside Africa No Comments2 Mins Read
    Africa Loses $18bn Annually Due to Conflict - African Union
    William Ruto, Kenyan President
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    Africa Loses $18bn Annually Due to Conflict – African Union

    Kenyan President William Ruto, the champion of the African Union (AU) institutional reforms, on Monday said conflicts is hindering Africa’s potential, resulting in estimated losses of 18 billion dollars annually, displacing millions of people.

    Ruto, said Africa currently hosts 35 million internally displaced persons, 8.9 million refugees, 1.1 million asylum seekers, and 1 million stateless persons.

    “Between April and June 2024 alone, a total of 1,000 terrorism incidents were recorded across Africa, resulting in 4,818 deaths,” he said during the high-level Extended Bureau Retreat on AU Institutional Reforms held in the Kenyan capital of Nairobi.

    The day-long event brought together presidents from Guinea-Bissau, Ethiopia, Ghana, and the Comoros, as well as Moussa Faki, chairperson of the AU Commission, to accelerate reforms of the 55-member continental organisation.

    Ruto noted that the AU security architecture in its current configuration is incapable of addressing the continent’s complex dynamics and challenges, and there is an urgent need for immediate revitalisation of the peace and security architecture.

    He also said the pan-African bloc’s presence in regional hotspots remains weak, fragmented, and under-resourced. The Kenyan leader added that the continent’s developmental goals were being hindered by destabilising forces, given that peace is the key to development. #Africa Loses $18bn Annually Due to Conflict – African Union#


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    Ogochukwu Ndubuisi
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    Ogochukwu Ndubuisi is an editorial content strategist and financial news writer at MarketForces Africa, covering a broad range of topics including Nigeria's equity markets, infrastructure development, energy, government policy, corporate finance, and digital economy.With over 2,400 published articles on MarketForces Africa, Ogochi brings depth and consistency to the publication's daily news coverage.Her reporting spans Nigerian Exchange Group market movements, Lagos State infrastructure projects, and federal government economic policies, oil and gas developments, and emerging sectors shaping Nigeria's economic landscape.She also covers Africa-wide stories, including East African market indices, continental investment trends, and cross-border economic developments.Ogochi works closely with MarketForces Africa's editorial and corporate communications teams to deliver accurate, timely, and well-researched content to the publication's professional readership.Ogochukwu Ndubuisi is based in Lagos, Nigeria.

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