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.
