A Specialized Agency of the African Union

COVID-19 Corner                  Support Our Work

Home | Media | Press Release | ACBF approves extra $1.4 Million package for finance/economic skills in West Africa

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

13 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

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:

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