NEPAD Business Foundation: Achievements that can end Aid
The NEPAD business Foundation is by far the most resourceful of all NEPAD business groups in Africa and also remains in the fore front of implementing NEPAD policies in form of concrete programs of action to promote growth. Since the group is composed of mostly private sector group of companies with vast business ideas and strategies, it never found it difficult to mobilize resources given their track record as successful entrepreneurs. Unlike the traditional government to government Aid with nobody in particular to be held accountable for default or non performance, NEPAD Business Foundation as a group financed its programs mainly from capital investments from the group, corporate loans sourced from the African Development Bank, Industrial Development Corporation (IDC) of South Africa, and contributions from governments in case of public- private partnership venture. What makes these loans serviceable is because they are not given to governments but to entrepreneurs who knows that they will be accountable for it upon maturity. The following discussion will focus on some of their activities and programs that when sustained can drive growth and end Africa’s reliance on development Aid and by extension official development assistance.
NEPAD Business Foundation’s Project Management Office
In the past, coordination of development projects in Africa has either been led by government agencies or donors hence leading to controversy over tying or untying of Aid debate on one hand and massive corruption that has in most times left these development projects or programs poorly implemented or even abandoned. To forestall this experience in the implementation it programs in the Southern Africa, NEPAD Business Foundation established a project management office comprised of team of experienced hands from the private sector with sound knowledge in project management and implementation. They are to coordinate implementation of NEPAD projects in collaboration with sector heads in each priority sectors. This project management office brings the required expertise knowledge to project implementation in order to reduce waste and systemic corruption often associated with ODA funded projects. They also make sure that most of their project have regional focus and therefore will benefit businesses operating in more than one country.
NEPAD Business Foundation’s African Leaders Program
This program is designed to train new generation of African leaders in good governance in which ever field of human endeavor they found themselves. It is uniquely designed to bring together aspiring leaders from both the private and public sector, and allows them to work together not only to gain an understanding of their inter-dependence, but also to learn and share experiences from one another. The program coordinated in partnership with Wits University business school has a stringent selection process to ensure a diverse...