Senegal is to host a conference on financing Africa’s infrastructure development from 5-6 November, organisers said Wednesday, adding that the conference
will also lay emphasis on political support and the role that the private sector will play in supporting the initiative.
The New Partnership for Africa’s Development (NEPAD) Agency Chief Executive Officer, Dr. Ibrahim Maiyaki, at the close of a two-day meeting of the NEPAD Steering Committee in Centurion, South Africa, said the conference was an innovative idea necessary for the continent’s progress.
“The upcoming Dakar Financing Conference provides an innovative mechanism and instrument for the financing of African development programmes such as the Programme for Infrastructure Development in Africa (PIDA) and will foster synergies between the public and private sector” Dr. Mayaki told participants at the meeting.
Dr. Mayaki told the more than 40 delegates that there has been progress on the Cotonou Declaration on Rural Development, which calls for the mobilisation of partnerships at various levels for Africa’s rural transformation.
The conference is being co-organised by the Government of Senegal and the NEPAD Agency as well as other partners.
It will galvanise the continent’s most influential leaders from governments, industries and finance to accelerate African investment into infrastructure and other development causes.
Mrs. Gnounka Diouf, Chairperson of the NEPAD Steering Committee and the personal representative of the Senegalese President Macky Sall, said the conference will showcase Africa’s own financing competencies.”
NEPAD Steering Committee consists of Representatives of African governments, United Nations Agencies, the African Union Commission and other strategic development partners.
The Committee is a grouping of personal appointees of African heads of state and is responsible for developing the terms of reference for identified NEPAD projects.
It will also over-see the work and activities NEPAD’s regional Programmes.
AU Commissioner for Economic Affairs, Dr. Anthony Mothae Maruping, said Infrastructure development in Africa needs to be adequately funded through the continent’s own resources in order to impact on people’s lives.
The African Development Bank (AfDB), which hosted the Meeting, praised the partnership between the AUC, NEPAD Agency and AfDB under PIDA which has achieved formidable results in advancing Africa’s infrastructure development.
AfDB Director for Regional Integration and Trade, Alex Rugamba, said this has been critical in launching the joint Africa50Fund, which will facilitate large-scale funding from the private sector.
The meeting also paid a special tribute to the outgoing steering committee members from the Democratic Republic of Congo (DRC), Tunisia, Lesotho and Namibia for their services in advancing NEPAD.