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ACBF approves extra $1.4 Million package for finance/economic skills in West Africa

Harare
14 Mar, 2017

Harare, 12 March, 2017 (ACBF) – The African Capacity Building Foundation has approved a grant of USD 1.4 million for the West African Institute for Financial and Economic Management to help it improve the training of financial and economic professionals in Nigeria and West Africa.

“The grant will help the Institute to train a new cadre of experts locally, thereby saving the amount previously spent on sending them overseas,” ACBF’s Executive Secretary Prof. Emmanuel Nnadozie said in Abuja recently. “The grant will also enable WAIFEM to conduct research in critical areas, including infrastructure and trade financing,” he said.

“The latest assistance brings the total amount WAIFEM has received from ACBF since 2005 to USD 8.4 million,” the Executive Secretary said. For more than 10 years, ACBF has supported WAIFEM in training over 1,000 officials from West African central banks, ministries of finance and planning, and private sector organizations. It has equally assisted it to establish a video conferencing and training facility to expand access to the Institute’s programs.

Based in Lagos, Nigeria, WAIFEM partners with major global bodies such as the World Bank, IMF and other regional organizations to deliver quality education to Nigerians and other West African nationals.

For more information, please contact:

Abel Akara Ticha
The African Capacity Building Foundation
Harare, Zimbabwe
+263 7+263-4 304663, 304622, 332002, 332014; Ext. 279
Email: A.Ticha@acbf-pact.org

About the African Capacity Building Foundation

Established in 1991, ACBF builds human and institutional capacity for good governance and economic development in Africa. To date the Foundation has empowered people in governments, parliaments, civil society, private sector and higher education institutions in more than 45 countries and 6 regional economic communities. ACBF supports capacity development with grants, technical assistance and knowledge across Africa. The establishment of ACBF was in response to the severity of Africa’s capacity needs, and the challenges of investing in indigenous human capital and institutions in Africa. ACBF interventions are premised on four principles: the centrality of capacity to the development process in Africa; the critical role of a partnership and demand-driven approach in tackling capacity challenges; African ownership and leadership in the capacity development process; and a systematic, sequenced and coordinated approach to the capacity development process. For further information go to: www.acbf-pact.org

ACBF's financial support to our institution has helped us a great deal. We look forward to continued partnership with ACBF in pursuit of capacity building in STEM for Africa's sustainable development.


Prof. Burton Mwamila , Vice Chancellor , The Nelson Mandela African Institution of Science and Technology

The Africa we want, others have wanted it before us.


Dr. Hesphina Rukato , Development Consultant , Great Dyke Investments

The time to accelerate capacity building is now or never. The continent does not have the luxury to waste time anymore


Phelekezela Mphoko , Vice-President , Zimbabwe

The Africa rising narrative can no longer be denied. Africa has over the past decade, made the greatest economic gains than any other region in the world


Addoulaye Mar Dieye , UNDP Director Regional for Africa ,

Government must lead, catalyze, support, and invest by bringing in partners to fix market failures and mitigate risk


President Paul Kagame , President , Rwanda
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