In the second episode of their Weekly Tradecast, UNCTAD talks to Paul Akiwumi, Director of the Africa, Least Developed Countries and Special Programme division. Soaring food and energy prices are hitting especially hard as the region struggles with the impact of the pandemic and climate change.

The continent of 1.4 billion people relies heavily on grain and other essentials from Ukraine and Russia – exposing them to shortages and crippling costs that imperil development. Mr. Akiwumi, who led the production of the UN trade and development body’s latest Economic Development in Africa Report, says that to cope with this crisis and insulate itself for the future, Africa must rethink how it diversifies its economies to attract investment and narrow huge income gaps.