Sierra Leone: Global South Must Explore New Development Pathways – Sierra Leone Official
Beijing — The global south must broaden and explore new pathways to development that are not simply about accessing more capital but also ensuring sustainable, inclusive growth, a top Sierra Leone development official says.
Jonathan Titus Williams, the West African country’s deputy development and economic planning minister, was a keynote speaker at the 2025 Global South Financiers Forum in Beijing on March 20.
“Countries must diversify their financing efforts to create a robust, adaptive, and inclusive global economy,” said Williams.
“The diversified approach to financing includes a wide area of mechanisms that can reach, for multilateral development, innovative public-private partnership, and impact investment.”
He said this must include social bonds, digital policy, and digital partnership, moving to new models where public funds can leverage private investment.
“The rising economic pressures and geopolitical tensions, for the pressing realities of climate change and the common impact of the global pandemic demand innovative, flexible and collaborative approaches from humanity.”
Tailored solutions
Williams said, “Additionally, we must ensure that the solutions are tailored to the unique needs of each country, respecting the specific challenges and circumstances.
“A one-size-fits-all approach will not work. Developing nations must have access to financing and support their specific developmental goals, whether infrastructure, health care, education, planning, or adaptation.”
At the same conference, Andre du Plessis, CEO of Standard Advisory (China), a Standard Bank subsidiary, said, “As we navigate a rapidly changing global economic landscape, nations in the Global South find themselves at a pivotal moment, gifted with unprecedented opportunities and facing notable challenges.”
For Africa, as a major member of the Global South, a multilateral and inclusive approach is essential for economic development, Du Plessis said, urging greater collaboration in financial cooperation.
“When the Global South acts, its future development prospects appear even more promising,” he said,
The China conference came when the United States appeared to be whittling down on aiding development, while Beijing has showed continuing interest there.
Hosted by Xinhua News Agency, China’s state-run news agency, the forum was attended by representatives from government departments and financial institutions, as well as experts from more than 30 countries and regions.
The organizers said, “Financial cooperation is an important area for the Global South to achieve win-win results, as well as a common issue faced by the Global South in the era.”
At the end of the meeting, attendees called for “the Global South financial community to fully unleash market vitality, pinpoint key areas for multilateral cooperation, and create a favourable environment for cross-border trade and investment.”
They said, “Efforts should be made to boost mutual assistance, increase financial support for infrastructure, food security, and public health, and crack down on illegal financial activities to safeguard the rights and interests of financial consumers.”
Other forum partners were China Securities Journal, Shanghai Securities News, Economic Information Daily, the China Fortune Media Group, the National Financial Information Center, China State Construction Engineering Corporation, and Fenjiu Group.
By Peter Kenny
