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Building Capacity for Domestic Resource Mobilization: Role of the Private Sector

By: 
ACBF
Publisher: 
ACBF
Date of publication: 
2016

Success in implementing Agenda 2063 and the Sustainable Development Goals depends largely on the availability and adequacy of resources. Africa realizes that industrialization is the way to go, as outlined in the two continental development plans, but it is inevitable that resources to fund these programs must be mobilized domestically. Domestic resource mobilization (DRM)1 was recognized as one of the six leading sources of finance for the Millennium Development Goals (MDGs), but many African countries did not fully achieve the MDGs due to overreliance on donor funding. One part of DRM is generating taxes and savings, which implies that governments and the private sector have key roles in this process. Specifically, the private sector should mobilize private savings, expand its productive investments, conduct responsible business by not engaging in tax avoidance and illicit financial flows, and ensuring corporate social responsibility

Category: 
Policy Brief

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 , ,

The recognition of ACBF as the African Union’s Specializes 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 , ,

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 – Minister of Finance, Ghana , ,

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


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

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 , ,
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