Content from our Premium Partner

United Nations Economic Commission for Africa (Addis Ababa)

9th African Development Forum Tackles Innovative Financing #ADF9

The Ninth African Development Forum (#ADF9) took place in Marrakech, Morocco, from 12 to 16 October 2014. The theme for the forum was - Innovative Financing for Africa's Transformation. The Forum offered a platform for prominent African stakeholders to share key information and participate in more focused and in-depth discussions on issues relating to innovative financing mechanisms in the following four thematic areas: Domestic resource mobilization, Illicit financial flows, Private equity and New forms of partnership. The Forum sought to enhance Africa's capacity to explore innovative financing mechanisms as real alternatives for financing transformative development in Africa.

More on the Ninth African Development Forum  #ADF9 on our UNECA page

Photo: UNECA

The Prime Minister of Cape Verde, José Maria Neves, arrives at the Palais des Congres for the 9th African Development Forum in Marrakech, Morocco. He is met by Executive Secretary of UNECA, Dr. Carlos Lopes.

Photo: UNECA

In his opening remarks the Prime Minister of Cape Verde, José Maria Neves, said, "Africans are at a cross roads of development, especially small island states which are impacted by climate change. Measures for correcting these impacts are not always taken. I am glad that we are examining innovative methods of mobilising finance to face up to climatic change impacting economies in these critical times."

Photo: UNECA

The Prime Minister of Morocco, Abdelilah Benkirane, approaches the stage to give his welcoming address to Prime Minister of Cape Verde, José Maria Neves, Presidents Macky Sall (Senegal) Alassane Ouattara (Cote d'Ivoire), ministers and delegates attending the 9th African Development Forum in Marrakech, Morocco.

Photo: UNECA

Morocco's Prime Minister Benkirane welcomed the delegates, pointing out how much Morocco appreciated the decision of the ECA to hold this session here, outside its Addis Ababa head quarters for the first time. He added, "Thanks to its great challenge and enormous resources, Africa is emerging as a new pole of global growth. For this trend to be consolidated, however, we need to make sure there is an overhaul of African economies, with a clear shift towards technology-intensive, high value added activities. To rise to this challenge the financial aspect is of great importance."

Photo: UNECA

The President of Senegal, Macky Sall, approaches the stage to give his welcoming address to The Prime Minister of Morocco, Abdelilah Benkirane; Prime Minister of Cape Verde, José Maria Neves; President of Cote d'Ivoire Alassane Ouattara, ministers and delegates at the 9th African Development Forum in Marrakech, Morocco.

Photo: UNECA

In his opening remarks President Macky Sall of Senegal said, "Traditional solutions in funding development is no longer relevant to the scope and need of the continent. The aspiration of African people is not only to fight poverty, it is to drive sustainable growth that will create employment and prosperity...What is possible in all other continents is possible in Africa."

Photo: UNECA

In his opening remarks President Ouattara of Cote d'Ivoire, said "Africa is on the road to being the next emerging continent in the world. However, we need to develop our financial markets. We need innovative financial instruments to do this. I am pleased that regional and national institutions are also looking at developing SMEs and informal sectors. However, I have some concerns..."

Photo: UNECA

President Alassane Ouattara of Cote d’Ivoire went on to say, "Too many transactions are taking place outside the taxation system," in his address to the 9th African Development Forum in Marrakech, Morocco. He cautioned, "In years ahead public sector investments won’t be enough. We need private sector investment."

Photo: UNECA

"We need private equity,"President Alassane Ouattara added. "We need PPPs, and we need to tap into remittances. We also need recourse to international sources of funds like Eurobonds. We want sustainable and equitable growth. I have hope in our Continent. The discussions at this forum will help African countries face the challenges."

Photo: UNECA

Dr. Carlos Lopes, United Nations Under Secretary-General and Executive Secretary, Economic Commission for Africa, takes a picture with some of the delegates at the 9th African Development Forum in Marrakech, Morocco. In his opening statement, Mr Lopes said "Our ability to strengthen, build and preserve capital in Africa is in line with Africa’s search for innovative financing mechanisms. In recent years, African Governments have taken an active role in changing the investment landscape. Aid is no longer the panacea... As we build Africa’s reputation in the global capital market, each success story establishes Africa as a destination for global capital flows."

Documents

Photo: UNECA

Ijeoma D. Agboti (Director, The Abraaj Group) on a panel which included Anne-Marie Chidzero, Microfinance Investment Company Ltd, Bowman Gilfillan; Mr. Nathan De Assis, Executive Director, Equity Capital Resources Plc and Mike Casey, Founding Director, Consulting Services, EMPEA. The panel discuss the state of PrivateEquity in Africa and how to stimulate growth at 9th African Development Forum in Marrakesh, Morocco (#ADF9).

Photo: UNECA

Ambassador Juan Somavia, Special Adviser to the UN Secretary-General on Interregional Policy Cooperation and Director of the Diplomatic Academy of Chile, joins a plenary panel at the Ninth African Development Forum Innovative Financing for Africa’s Transformation, 12 - 16 October 2014 at Marrakech, Morocco.

A plenary panel on innovative policies for a world in transition at the 9th African Development Forum in Marrakech, Morocco (#ADF9), opened with remarks from Ambassador Juan Somavia, Special Adviser to the UN Secretary-General on Interregional Policy Cooperation and Director of the Diplomatic Academy of Chile. Also on the panel were The African Development Bank (AfDB) Special Envoy on Gender, Geraldine Fraser-Moleketi; Dr. Carlos Lopes, United Nations Under Secretary-General and Executive Secretary, Economic Commission for Africa; Prime Minister of Cape Verde, José Maria Neves and the presenter of World News Today broadcast on both BBC Four and BBC World News, Zeinab Badawi.

InFocus

Documents

AllAfrica publishes around 800 reports a day from more than 140 news organizations and over 500 other institutions and individuals, representing a diversity of positions on every topic. We publish news and views ranging from vigorous opponents of governments to government publications and spokespersons. Publishers named above each report are responsible for their own content, which AllAfrica does not have the legal right to edit or correct.

Articles and commentaries that identify allAfrica.com as the publisher are produced or commissioned by AllAfrica. To address comments or complaints, please Contact us.