Kwesi Quartey courts support for ACBF…as 26th Annual Board Meeting begins in Accra

September 5, 2017
Source: Richard Annerquaye Abbey l thebftonline.com l Ghana
Kwesi Quartey courts support for ACBF…as 26th Annual Board Meeting begins in Accra

 

The Deputy Chairperson of the African Union Commission, Thomas Kwesi Quartey, has called on African governments to renew their commitment towards the African Capacity Building Foundation (ACBF) – the entity which is helping the institutional transformation processes of the Commission.

Speaking at the opening ceremony of the 26th Annual Meeting of the Board of Governors of the African Capacity Building Foundation (ACBF), Mr. Quartey said there are a number of treaties and conventions signed by African countries but implementation remains a big challenge due to the lack of requisite capacities by countries or institutions responsble.

According to him, the continent will only rise and sustain itself only if the required insitutional and human capacities are built and capacity brought at the center of the development discouse and programs.

Mr. Quartey reiterated that governments across the continent must demonstrate unflinching support towards the ACBF which continues to benefit from the support of the AU as well as other development partners.

“ACBF needs your commitment and political as well as financial support today more than ever. I am urging all African countries, development artnes, and non-African members and friends to support ACBF and channel all capacity development related support through our Specialised Technocal Agency for bettter cordination, efficiency, iimpact and tangible results,” he said.

Commenting on the 26 years the institution has been existence, he stated that the meeting of the board of governors provides the leadership of the ACBF the opportunity to take stock of the key milestones of the past decade on development finance and to project for the kind of capacities required in future. 

“We have to seriously reflect on how well we have been able to capture, efficiently allocate and successfully absorb the available resources for development.

As we project into the next 6-7 years, ie by 2023, will our narrative still be lack of domestic resources for our own development, lack of absorption capacity, lack of bankable projects, or we would have built enough human and financial resources to ensure socio-economic transformation of our beloved continent?” he asked the leadership of the ACBF at the gathering.

In his opening remarks, Finance Minister, Ken Ofori-Atta, said: “The choice of Accra for this year’s meeting is timely on two fronts: first, Ghana is significantly intensifying efforts to close loopholes and optimize existing laws to boost domestic revenue generation. Secondly and most importantly, Accra is now home to the ACBF regional office for West, Central and North Africa. As such, I hope this gathering sparks a new energy in our collective discussions on African development grounded in capacity building.”

The meeting which was on theme: “Accessing Funds for Development: Required Capacities for Resource Mobilization, Utilization and Absorption” brought together a number of delegates from across the continent. 

He praised the role ACBF has played in the country’s development, adding that: “ACBF has aided in deepening Ghana’s democratic discourse and economic transformation through grants that allow for the recruitment of high-class researchers in renowned think-tanks such as the Centre for Policy Analysis (CEPA) and African Center for Economic Transformation (ACET) and Institute of Democratic Governance