THE African Capacity Building Foundation (ACBF) and the United Nations Economic Commission for Africa (Uneca) have signed a Memorandum of Understanding (MoU) to help address challenges being faced by the continent.
Addressing journalists on Friday, Uneca deputy executive secretary Abdalla Hamdok said the organisation takes pride in the leadership at ACBF.
“We want to see capacity as a demand driven response to felt needs by member states. We would want to see our collaboration going from strength to strength,” he said.
ACBF executive secretary Emmanuel Nnadozie said the signing of the MoU will give the organisations the chance to revitalise their partnerships as ACBF is a capacity development institution.
“We are striving to bring back capacity development to the centre of development in Africa,” he said.
The MoU will result in the transformation of leadership, tracking and stopping and returning illicit flows, implementing data revolution in Africa as well as addressing the capacity dimensions of the African Union agenda 2063 and other issues.
Nnadozie said the ACBF was working with the ministry of foreign affairs and the economic think tank Zimbabwe Economic Policy Analysis Research Unit.
“We have spent $1,3 million so far on all projects this year,” he said.
Nnadozie said $20 million has been committed by the organisation over the years.
Hamdok said aid to Africa has been declining and it has been coming in one direction from the donor to the needy nation.
“There is need for aid to be mutual and it is also about accountability on both sides. The continent should take charge of its resources. Relying on aid won’t take us anywhere,” he said.
Hamdok said aid for the Africa continent is currently declining at $25 billion.
Hamdok said Africa should also stop the haemorrhage of illicit outflows which is estimated at $50 billion that leaves the continent through multinational corporations.
He said the funds should be retained to finance infrastructure developments on the continent.