Kofi Annan, speaking at the launch of the Africa Progress Panel (APP) Annual Report 2009 on the opening day of the World Economic Forum on Africa in Cape Town, called on African leaders to turn the current global economic meltdown into an opportunity for the continent based on shared responsibility with their international partners.

The financial crisis has underscored Africa’s vulnerability, notwithstanding a decade of solid progress, the APP said at the launch of its annual report. The key conclusion of the report is that Africa needs to drive its own development agenda as the basis for partnership and shared responsibility for progress. “The global economic crisis can serve as a wake-up call for both African leaders and their international partners,” the panel said.

The report, launched at the World Economic Forum on Africa by Kofi Annan, Graça Machel and Linah Mohohlo, states that the global economic crisis imported from the North is hitting Africa harder than any other region. Nevertheless, it presents “a unique opportunity” for Africa to pioneer a low-carbon development model. More investment is needed in Africa’s real economy, particularly infrastructure, renewable energy, agriculture and communications. The report notes that “investment in these sectors will not only generate jobs and boost trade in Africa, but also create markets for the world.”