The Finance Ministers of the five countries of the Horn of Africa (Djibouti, Ethiopia, Kenya, Eritrea, and Somalia), met on October 8, 2019, in Washington, DC to discuss the common issues that hinder economic growth and development in the regions. The meeting concluded with the issuance of a communique that underscored the importance of cooperation and concerted efforts in addressing the socio-economic and political concerns that plagued the Horn for decades.
The Horn of Africa Initiative (HoAI) calls to action the relevant government and non-government agencies to converge and focus on four transformative initiatives, being;
1. Improving Regional Infrastructure Networks
Opening/strengthening of economic corridors with four priority groups spanning 6,000km.
Power integration through regional energy trade or interconnection between the countries of the Horn.
Regional infrastructure for modern and efficient data centers under a single data service market that will connect the regions of the Horn.
2. Trade and Economic Integration
Develop a framework for regional trade facilitation and value chains (farm to market roads and facilities)
3. Building Resilience against climatic change.
Design mitigating measures against the devastating impact of drought in pastoral lands in the Horn. Financial and non-financial inputs to be available for the farmers affected by climate change.
4. Strengthening human capital as the shift towards economic development is pushed.
Livelihood training and skills enhancement to improve the quality of human resources where it is needed.