Africa needs to increase institutional capacity in domestic resource mobilization to counter the effects of an ever changing landscape for financing for development, said the African Capacity Building Foundation’s Executive Secretary, Prof. Emmanuel Nnadozie at the African Business Round Table, held on Tuesday at the 50th Annual Meetings of the African Development Bank Group, in Abidjan, Côte d’Ivoire.
“Success can be achieved in domestic resource mobilization only through capacity development,” said Prof. Nnadozie. “Institutional capacity is still weak in many African countries. ACBF, which has an experience in capacity development that spans over 24 years, stands ready to support the continent in building the capacities required for Africa’s transformation.”
Among the required capacities are a robust institutional architecture, human capacity and skills, access to knowledge and information and leadership.
The landscape for financing for development has drastically changed over the last years owing to the global financial crisis, donor fatigue, business sector prices and the emergence of news players such as BRICS.
Africa needs to raise resources to finance the Post-2015 sustainable development goals, a proposed set of targets relating to future international development. They are to replace the Millennium Development Goals once they expire at the end of 2015. They are made of 17 goals with 169 targets covering a broad range of sustainable development issues. These include ending poverty and hunger, improving health and education, making cities more sustainable, combating climate change, and protecting oceans and forests.
Mobilizing domestic resources is increasingly considered a credible alternative to cover for the shortfall in international financial support.
ACBF’s 2015 edition of its flagship publication, the Africa Capacity Report, will cover the theme of Domestic Resource Mobilization.
