"Africa is well on its way towards sustainable growth but needs critical capacities in three key areas – political and social stability for transformational change, capacity to engage, guide and regulate the productive sector and capacity to track policy impact", states ACBF Executive Secretary
• Dr. Frannie Léautier contributes towards the High Level Policy Dialogue on Unleashing Africa's potential as a pole of global growth at the 5th Annual Meetings of the AUC Conference of Ministers of Economy and Finance and the ECA Conference of African Ministers of Finance, Planning and Economic Development.
On 26th March 2012 in Addis Ababa, African Ministers of Finance and Central Bank Governors, diplomats and representatives of international organisations, development partners and civil society gathered to participate in 5th Annual Meetings of the AUC Conference of Ministers of Economy and Finance and the ECA Conference of African Ministers of Finance, Planning and Economic Development. In his keynote address on the conference theme, Ethiopia's Prime Minister H.E. Mr. Meles Zenawi emphasised that liberating our minds from the neoliberal paradigm is an underlying principle, without which not much can be achieved as far as development on the African continent is concerned. Transforming economies will involve Africa freeing itself from the shackles of this ideology and engaging in massive investment in infrastructure and promoting manufacturing. The prevailing ideology has hindered and limited progress. He added that pro-poor effective States are those that intervene selectively and effectively while at the same time engaging the private sector. In addition, African needs to back-up this new thinking with concrete investment in education and training at all levels, in order to fully exploit the new window of opportunity.
Chairing the high level policy dialogue on the conference theme "Unleashing Africa's potential as a pole of global growth", Nigeria's Minister of Finance Minister, HE Dr. Ngozi Okonjo-Iweala, highlighted the need for Africans to act and act now. Panelists urged Africans to have long term visions and to generate demographic data, especially on the youth, in order to better understand their specific aspirations. Africans were encouraged to embrace Africa's diversity as an opportunity, rather than a constraint and to prioritise intra-African investment and trade as key focus areas, with growing opportunities offered by the movement of capital and people.
Dr. Frannie Léautier, Executive Secretary, African Capacity Building Foundation presented on the High Level Panel, together with HE Mr. Pravin Gordhan, Minister of Finance, South Africa; HE Mr. Soulaymane Cisse, Minister of Planning of Guinea; Dr. Kanayo F Nwanze, President, International Fund for Agricultural Development; Lord Boateng, former British Cabinet Minister; Mr. Arnold Ekpe, Chief Executive Officer, Ecobank Transnational Incorporated and Mr. J S Koroma, Board Chairman, Union Trust Bank, Sierra Leone.
In her address Dr. Léautier underscored that Africa needs to leverage its current endowments of rich natural resources, abundant and youthful labour force, and considerable underutilized land, and use them to achieve economic transformation and development results. Effective transformation from the current structure of endowments requires capacity. Firstly, the capacity to deliver public services in areas with potential for multiplier effects like educating girls, Secondly, capacity to deliver platforms for creativity, innovation, discovery and learning to tap into ideas such as those that link science and research to farmers and support youth in self-created jobs. Thirdly, leadership that seeks improved legitimacy of strategies for development and accountability in the use of resources, and that can secure economic and financial governance. And lastly, a state with institutions capable of guiding strategic sectors and improving responsiveness to uncertainties and resilience in managing risks.
"Just like growth, capacity development is a long term process requiring flexibility, patience, attention to results and strategic partnerships for learning and achieving results at scale. Despite its challenges, Africa is well on its way towards sustainable growth but needs critical capacities that underpin political and social stability for transformational change, enable the engagement, guidance and regulation of the productive sector, and implementation capabilities including how to track the impact of the various socioeconomic policies that are in place. All countries in Africa are at various levels of development and require investment in capacity, commensurate with their current state of development and their unique endowments. The continent is not homogenous but Africa has the resources to emerge as an inclusive growth pole for the world economy. To do so, it has to make better strategic choices, effectively manage and utilise capacities and develop citizenry and institutions that grasps the present challenges with a clear focus on the needs of tomorrow."
About the African Capacity Building Foundation
ACBF was established in February 1991. It is the outcome of collaboration between African governments and the international donor community. Its mission is to build sustainable human and institutional capacity for sustainable growth and poverty reduction in Africa. ACBF's vision is for Africa to be recognized for its socio-political and economic capabilities and endowments – a continent with effective institutions and policies acquired through sustained investment in people and institutions. The Foundation is a leader, major partner, and centre of excellence for capacity building in Africa. The ACBF has a strategic MoU with the African Union, which currently serves as an Observer on the ACBF Board of Governors.
For further information on ACBF, please contact:
r.kambarami @acbf-pact.org
African Capacity Building Foundation (ACBF)
PO Box 1562, Harare
ZIMBABWE
Tel: + 263 4 700208/210
