Twenty-five African policymakers attend course on Domestic Resource Mobilization and Investment in Africa

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Dakar,  Senegal  23  December 2016 - The African Institute for Economic  Development  and  Planning  (IDEP)  organized in partnership with ECAs  Capacity  Development  Division  (CDD) a two-week course on Domestic Resource  Mobilization  and  Investment in Africa from 5th to 16th December 2016  at IDEP headquarters in Dakar, Senegal. It was attended by mid-career and senior level government officials working in the Ministries of Finance, Economic  Affairs  and  Development of  23  countries  in  the departments responsible   for   economic  planning,  budgeting,  tax  policy,  resource mobilization,  financial  sectors  and  investment policy. The five African sub-regions were represented.

In  view  of the volatility of aid flows in recent years, domestic resource mobilization  is increasingly  perceived  as  an important way of ensuring the predictability and sustainability of funds to finance development plans and policies  in  developing  countries.  The shift in aid flows has led to the inclusion  of  improving  domestic resource mobilization as a target in the Sustainable   Development   Goals   (SDGs),  which  requires  strengthening capacities at the national level to raise taxes and mobilize other incomes.

It  is  in  this  context  that  IDEP and CDD jointly conducted a course on Domestic  Resource Mobilization and Investment in Africa aimed at providing participants with a clear understanding of the key constraints to effective domestic  resource  mobilization,  and to present a range of policy options that can be employed in resource mobilization at various levels and promote investments  in  strategic sectors. The course addressed several key issue including  the  potential of domestic resource in Africa, illicit financial flows, institutional arrangements and investment management in Africa.

IDEP  Director,  Ms.  Karima  Bounemra Ben Soltane, underlined the multiple benefits  associated  with domestic resources mobilization and said that in addition  to being a predictable source for financing long term development plans,  domestic  resources  are  a  means  of ensuring African countries ownership  of  their development agenda. She highlighted the need to build the  capacities  of  African  policymakers  to  address  domestic  resource mobilization  constraints.  These include, ineffective taxation mechanisms, the limited level of financial inclusion and governance challenges.

Speaking on behalf of his colleagues, a representative of the participants welcomed  the  importance  and  timeliness of the course in light of recent developments  in  the  global economy and the increasing financing needs of African  countries.  He  said  that  the course had  equipped them with the required  skills  and  knowledge  to  formulate  policy  reforms  aimed  at
developing  better  performing  financial systems, improving tax collection and  responding  to savings and investment needs of domestic households and enterprises.

For  her  part,  Madame  Fatou  Diane,  Technical  Advisor  at  the General Directorate  of  Planning and Economic Policies in the Ministry of Economy, Finance  and  Planning of Senegal emphasized the need for African countries to  intensify  efforts  to  increase the share of domestic resources in the financing  of  investments in strategic sectors. She also stressed the need to invest in infrastructure development to promote economic growth.

As part of the training, participants attended the high level launch of the joint  ECA/NEPAD  report  entitled:16  infrastructure projects for African integration,  commissioned  by President Macky Sall of Senegal, who serves as  Chair  of  the  NEPAD  Heads  of  States  and  Governments  Orientation Committee,  following the Dakar Summit on Infrastructure organized in 2014. The  event  gave  participants  a first hand appreciation of the challenges associated with the mobilization of resources to finance key infrastructure projects.

The  closing  session  of the course was chaired by Madame Fatou Diane; and was  attended  by embassies of countries represented in the course (namely: Cameroon,  Comoros,  Ethiopia,  Ghana,  Guinea, Niger, Nigeria, Tunisia and Zimbabwe),  the  team  of  experts  who  facilitated  the  course  and IDEP Management and staff.
The African Institute for Economic Development and Planning (IDEP) is a Pan-African Institution created in 1962 by the General Assembly of the United Nations. IDEP is a subsidiary body of the United Nations Economic Commission for Africa (ECA).

 

Issued by:
Communications Section
Economic Commission for Africa
PO Box 3001
Addis Ababa
Ethiopia
Tel: +251 11 551 5826
E-mail: ecainfo@uneca.org