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Nigeria’s Finance Minister seeks greater financial, political support for ACBF

02 Apr, 2014

Nigeria’s Coordinating Minister for the Economy and Finance Minister Ngozi Okonjo-Iweala at the weekend called on African Finance ministers to scale up their assistance to the African Capacity Building Foundation to enable it better perform its task of developing Africa’s human and institutional capacity.

She made the plea at a lunch she hosted for finance ministers and heads of delegations to the Seventh Joint AU/ECA conference of Finance, Planning and Economic Development in the Nigerian capital, Abuja. Dr. Okonjo-Iweala is the current Chairperson of the Board of Governors of  the Harare-based organization.

“There is need to ensure long-term financial sustainability of the Foundation,” Dr. Okonjo-Iweala said. In addition to members paying up their pledges, they should also raise their financial contribution. This would enable it to cover its operating costs so that pledges from partners are directed to fulfill their financial obligations to enable it perform its core mandate.

She made an appeal for greater political support from African countries adding that they need to own the Foundation as an African institution because “Africa’s continued reliance on external partners will not help Africa develop,” she added.

The minister used the occasion to formally introduce to the ministers Prof. Emmanuel Nnadozie, the new Executive Secretary of the body. Prof. Nnadozie, a Nigerian, was appointed purely on merit last year after an internationally contested selection process, she said.

The Executive Secretary in his first address to the ministers listed some of ACBF’s achievements since inception, especially in helping to create some of the best think tanks on the continent and in developing Africa’s capacity in economic policy management. The Deputy Chairperson of the Executive Board, Kenya’s Kithinji Kiragu, equally appealed to the ministers and heads of delegations to nurture ACBF into one of the stronger pan-African institutions.

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