The African Capacity Building Foundation and the African Development Bank Signed an Amendment to the Memorandum of Understanding on the African Governance Outlook

11 November 2011
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The African Capacity Building Foundation (Harare)
press release

On Friday, 11 November 2011, an amendment to the Memorandum of Understanding was signed between the African Capacity Building Foundation (ACBF) and the African Development Bank (ADB) at the Headquarters of the ADB in Tunis. This agreement is an improvement to the original MoU dated 8 December 2010 that established a collaboration between both parties on the implementation of the African Governance Outlook (AGO) in 10 pilot countries. The AGO is a new flagship report on financial governance that focuses on core areas of ADB's mandate on governance and is being coordinated by the Governance, Economic and Financial Management Department (OSGE) under the guidance of Mr. Isaac Lobe Ndoumbe (Director, OSGE). The AGO's strategic objective is to provide an effective African-based diagnostic tool that involves local organizations in assessing the quality of financial governance in Africa.


The AGO will help to:


(i) monitor progress and trends over time;


(ii) support evidence-based policy dialogue with RMCs; and


(iii) inform the Bank's country strategies, operational programming and results monitoring.


It will also serve as a principal instrument to articulate Africa's voice on financial governance. Through the recently signed amendment, both partners agreed to implement the pilot project in two phases: phase one covering five countries and phase two covering five additional countries. Some amendments were also made in the financing arrangements and disbursement of the initial MoU. Dr. Frannie Léautier, Executive Secretary of the African Capacity Building Foundation, stated that the African Governance Outlook will play a key role in the strategic approach to improving financial governance on the continent., saying "ACBF is pleased to partner with the African Development Bank Group in this endeavor after decisively contributing to making the pilot phase of the project a resounding success". Dr. Kamal El Kheshen, Vice-President of the ADB said that this amendment would "contribute to strengthening the strategic relationship between ACBF and the ADB".


For further information contact:

a.mpunzwana@acbf-pact.org
r.kambarami@acbf-pact.org

African Capacity Building Foundation (ACBF)
PO Box 1562, Harare, Zimbabwe
Tel: +263 4 700208/210

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