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We are all in it together

07 Aug, 2020

The COVID-19 pandemic is a major crisis for Africa. To better understand the economic impact, we need to look at the three dimensions of this pandemic. First; is the impact of the disease itself on individuals, families, communities, nations and regions.

The second is the economic and social impact of the response to the pandemic and the mitigation measures that have been put in place, lives and livelihoods, and third is the challenge of post-COVID-19 recovery and reconstruction.

According to various estimates, the pandemic has caused and will continue to have a severe impact on the economies of African countries. The African Development Bank (AfDB) has estimated a loss of gross domestic product (GDP)of between US$22 billion and US$88 billion.

This is a very serious challenge for the continent as it has direct impact on economic activity and productive capacity through inflation and debt. So far, we have seen disruptions in trade and value chains and there has been a sharp decline in the prices and exports of primary commodities. As such, this is an opportunity to intensify efforts in diversifying and transforming African economies to bring about more resilience.

There is also a reduction in financial flows in terms of investment and diaspora remittances. Foreign aid and tourism have been hit hard because of the travel bans and lockdowns put in place by various governments to curb the spread of the Coronavirus.

ACBF has been directly affected by the lockdowns and we find ourselves unable to function at full capacity. This affects our ability to support our Member States, our non-state actors, and all the institutions at country, regional and continental levels where we build the capacity of institutions and provide technical skills that are needed to bring about economic transformation.

To overcome this obstacle, the ACBF has devised innovative ways of doing business. This notwithstanding, the demand for our services remains huge, especially in light of the COVID-19-induced challenges facing African countries and their institutions. Financial resources remain a challenge due to their insufficiency, unpredictability and unsustainability.

We are continuously grateful to our Member States and partners for their support and call on them to continue investing in their Foundation. This support is critical now more than ever, as Covid-19 continues to threaten the gains made towards the realisation of Agenda 2063.

Prof. Emmanuel NNADOZIE

Executive Secretary

African Capacity Building Foundation

Thomas Kwesi Quartey

ACBF has been granted the status of a specialized agency because of the potential to transform Africa through capacity development.

H.E. Thomas Kwesi Quartey, Deputy Chairperson, AU Commission
Erastus Mwencha

The recognition of ACBF as the African Union’s Specialized Agency for Capacity Development launches the beginning of a new era for capacity building by ACBF, which will require an appropriate level of political commitment and financial support from all stakeholders.

H.E. Erastus Mwencha, Chair, ACBF Executive Board
Lamin Momodou

The remarkable achievements ACBF has registered over the past 26 years is not by accident in our opinion. They have come through hard work, dedication, commitment, purposeful leadership, support from the member countries as well as productive partnership building.

Mr. Lamin Momodou MANNEH, Director, UNDP Regional Service Centre for Africa
Goodall Gondwe

Africa needs ACBF as much, probably more now, than at the time it was created in 1991.

Hon. Goodall Gondwe, former Chair of the ACBF Board of Governors and Minister of Finance – Malawi
Ken Ofori Atta

Ghana’s partnership with ACBF is a tremendous blessing for us and therefore the opportunity for Ghana to host the 26th ACBF Board of Governors Meeting is something that we treasure.

Hon Ken Ofori Atta, Chair of the ACBF Board of Governors and Minister of Finance - Ghana