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The Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)

  • Project Name:
    The Macroeconomic and Financial Management Institute of Eastern and Southern Africa (MEFMI)
    Institution :
    Macroeconomic and Financial Management Institute of Eastern and Southern
    • Core Competence:
      Financial Management and Accountability
    Project Region :
    Eastern & Southern Africa
    Country :
    Zimbabwe
    Status :
    Active
    Phase :
    ESAIDARM
    Grant Number :
    16
    Grant Amount (USD):
    2 000 000
    Commitment Date:
    1994
    Closing Date:
    1997
    Phase :
    I
    Grant Number:
    28
    Grant Amount (USD):
    2 900 000
    Commitment Date:
    1997
    Closing Date:
    2002
    Phase:
    II
    Grant Number:
    92
    Grant Amount (USD):
    2 500 000
    Commitment Date:
    2002
    Closing Date:
    2006
    Phase :
    III
    Grant Number:
    196
    Grant Amount (USD):
    2 000 000
    Commitment Date :
    2007
    Closing Date :
    2012
    Phase :
    IV
    Grant Number:
    303
    Grant Amount (USD):
    USD 2200000
    Commitment Date:
    2014
    Closing Date:
    2016
    Introduction:

    In June 1994 ESAIDARM the predecessor to MEFMI was implemented with a US$2 million grant from ACBF for a 2.5 year pilot.  In November 1996 the ACBF Executive Board awarded a grant of US$ 3.268 million to MEFMI to support its capacity building program in macroeconomic and financial management for 10 member countries.  In May 2002, the ACBF Executive Board awarded a grant of US$ 2.5 million to enable the Institute to consolidate achievements made during the initial phase and to continue to enhance the human and institutional capacity of member states in order to ensure effective and efficient management of public finances and a stable and competitive financial sector.  MEFMI has emerged as the premier training institution providing hands-on training in key macroeconomic and financial management functions as well as technical advisory services in debt management and central bank operations in Eastern and Southern Africa.  In December 2006, the Executive Board awarded a grant of US$ 2 million to MEFMI Phase III.On the 28th of May 2014, ACBF and MEFMI signed a US$1.2 million grant for Phase IV.

    Project Description:

    MEFMI focuses building capacity in identified key areas in ministries of finance, planning commissions and central banks, or equivalent institutions with the goal to improve sustainable human and institutional capacity in the critical areas of macroeconomic and financial management as well as foster best practices in related institutions. Phase IV grant will support three key areas of macroeconomic policy management; promotion of financial stability and deepening in the member states; and debt management capability in selected MEFMI member countries. The key beneficiary countries of the ACBF grant are Angola, Mozambique, Namibia, Rwanda, Zimbabwe, Kenya, Botswana, and Swaziland

Thomas Kwesi Quartey

ACBF has been granted the status of a specialized agency because of the potential to transform Africa through capacity development.
H.E. Thomas Kwesi Quartey, Deputy Chairperson, AU Commission
Erastus Mwencha

The recognition of ACBF as the African Union’s Specialized Agency for Capacity Development launches the beginning of a new era for capacity building by ACBF, which will require an appropriate level of political commitment and financial support from all stakeholders.
H.E. Erastus Mwencha, Chair, ACBF Executive Board
Lamin Momodou

The remarkable achievements ACBF has registered over the past 26 years is not by accident in our opinion. They have come through hard work, dedication, commitment, purposeful leadership, support from the member countries as well as productive partnership building.
Mr. Lamin Momodou MANNEH, Director, UNDP Regional Service Centre for Africa
Goodall Gondwe

Africa needs ACBF as much, probably more now, than at the time it was created in 1991.
Hon. Goodall Gondwe, former Chair of the ACBF Board of Governors and Minister of Finance – Malawi
Ken Ofori Atta

Ghana’s partnership with ACBF is a tremendous blessing for us and therefore the opportunity for Ghana to host the 26th ACBF Board of Governors Meeting is something that we treasure.
Hon Ken Ofori Atta, Chair of the ACBF Board of Governors and Minister of Finance - Ghana
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