The New Partnership for Africa’s Development (NEPAD) Planning and Coordinating Agency and the NEPAD Business Foundation (NBF) have signed a memorandum of understanding, aimed at solidifying the relationship between the two organisations.
NBF board members join Dr. Ibrahim Mayaki (seated to the right) and Ms. Lynette Chen (seated to the left) at the signing of the MoU
While the NEPAD Agency and the NBF have worked closely since the inception of the NBF in 2004, this agreement marks a new chapter for both organisations, focussing on unlocking the potential for the development of Africa’s private sector. The MOU will enhance business potential within the continent through joint projects by accessing the resources, experience and expertise of both the NEPAD Agency and the NBF. This formal understanding will focus on building the African private sector to facilitate trade, training, skills development, technology and facilitating public private partnerships (PPPs). The latter is one of the most effective ways to undertake infrastructure development in Africa and a number of countries are exploring these vehicles for development.
The continent has demonstrated a high need for infrastructure development to facilitate inter-African trade and to create a conducive environment for international investment.
“NEPAD provides unique opportunities for African countries to take full control of their development agenda, to work more closely together, and to cooperate more effectively with international partners,” says Dr. Ibrahim Assane Mayaki, the Chief Executive Officer of the NEPAD Agency.
“The NBF and the NEPAD Agency partnership will encourage project implementation and networking of private, public and civil society organisations to accelerate economic development in Africa. In addition, the NEPAD Agency and the NBF will also promote infrastructure development and regional integration while providing input and support to the continental framework of infrastructure requirements. The concept of development corridors throughout Africa is receiving much needed support from African Heads of State, culminating in President Zuma’s promise to champion Infrastructure development in Africa – focussing specifically on the North South corridor which runs between Durban and Dar es Salaam in Tanzania,” adds Lynette Chen, Chief Executive Officer of the NEPAD Business Foundation
Both NEPAD and the NBF have a vast store of experience, information and expertise in a variety of relevant fields, in collaboration with like-minded institutions and business communities. This agreement seeks to improve the coordinated development of Africa’s business environment.
“Through the NEPAD Programme, the NEPAD Agency, as the technical development Agency of the African Union, works to improve the lives of families, communities and countries through a range of wealth creation and poverty eradication initiatives that cut across issues of health, agriculture, infrastructure, ICTs, education and other areas of intervention,” says Dr. Mayaki.
“It is in this regard that we welcome this strengthening of partnership with the NBF through the signing of this MOU. We believe that our joint work with the NBF will help us to bring together all the organisations and partners involved in Africa’s private sector – to help them voice their needs and to co-ordinate their work in support of the NEPAD agenda.”
In signing this agreement, both organisations have pledged to continue supporting the development of agriculture and food security in Africa for this sector to become a growth driver for the continent. Jointly the NEPAD Agency and the NBF will work to achieve the agriculture goals as defined by the NEPAD Comprehensive Agriculture Advancement Development Programme (CAADP) _framework, where one of the key issues is to advance mechanisms to integrate smallholder farmers into the commercial value chain and provide access to markets.
“This is an exciting opportunity, as the NBF is currently incubating an innovative project that is developing a model that takes into account the vital role of the small farmer and gaining an understanding of their challenges and constraints and then developing models to create these smallholder farmers into viable entrepreneurial businesses,” says Chen.
Another joint focus of both organisations will work towards the enhancement of human capacity and skills through the NEPAD Africa-wide Capacity Development Strategic Framework (CDSF) and through the NBF African Leadership Programme which concentrates on enhancing capacity and leadership potential of African top managers from the public and private sectors as well as NGOs.
On a practical level, both organisations will aim to create an enabling environment for effective public private partnerships, including the preparation of bankable investment projects and promoting Africa as an investment destination for foreign funds.
“Our joint efforts are based on the consideration that the private sector in Africa can and should take ownership of the development process in Africa,” said Dr. Mayaki.
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The NEPAD Planning and Coordinating Agency acts as the technical body of the African Union, primarily facilitating and coordinating the implementation of Africa’s priority programmes and projects at the regional and continental levels. ; Mobilising partners and resources for the implementation of Africa’s priority programmes/projects; conducting research and knowledge management; monitoring and evaluation of programme/project implementation; and advocating core principles and values of the African Union and the NEPAD Framework.
Contacts: Andrew Kanyegirire
Communications Manager, NEPAD Agency
+27 (0)11 256 3615 / +27 (0) 83 704 4506
The NBF operates in South Africa with extensive business networks in the Southern African sub-region and the Continent as a whole, driven by the vision to contribute to a vibrant African economy through private sector development, thus positioning the continent as competitive global player. The mission of the NBF is to support the delivery of the NEPAD objectives through the active participation of Africa’s private sector.
Contacts: Hayley Alfers
Marketing and Events Coordinator, NBF
+27 (0)87 310 1894
This is a News Release