By Lucy Ogalue

Africans must stand together to mobilise and efficiently manage the resources required to enhance productivity and create wealth in Africa for Africans.

The African Development Bank’s (AfDB), Vice-President and Chief Economist, Kevin Urama, said this in Abuja.

Urama spoke at the graduation of inaugural set of the African Development Executive Training Programme of the AfDB’s Finance Management Academy (PFMA).

The News Agency of Nigeria (NAN) reports that the theme of the programme is: “Enhancing Accountability, Transparency and Curbing Corruption and Illicit Financial Flows in Africa”.

According to him, there is no better Group to achieve this than the graduating students of the PFMA.

While presenting their certificates, he urged the graduates to be torch bearers in Africa’s efforts to enshrine full transparency and accountability across the PFM ecosystems in their countries and the continent.

”The first cohort of 145 public officials nominated by 45 African countries commenced the 18-month structured Capacity Development (CD) programme in July 2022.

“Of these, 52 public officials from 26 countries have completed the CD programme and satisfied the conditions to be certified by the Bank Group and Partners as PFM experts in their respective countries,” he said.

Approved in June 2022 by the Board of Directors of the Bank Group, the PFMA is designed to deliver high-level structured capacity development on public financial management to African countries.

The PFMA is an implementation activity of AfDB’s programme to strengthen the capacity of African countries in economic governance and knowledge management.

It also aims to enhance wealth creation and prudential management of public finances to improve the quality of life for Africans.

Urama said the rationale for focusing on the PFM was that Africa was natural resource-rich and often cash-poor, and several studies attributed it to poor management of public resources.

According to Urama, African countries currently lose almost 90 billion dollars in illicit financial flows annually.

“And much more in illicit resource flows and resource theft, poorly implemented fiscal policy incentives, and excessive dependence on commodity exports for foreign exchange earnings.

“This exposes countries to highly volatile global market prices and vulnerable supply chains. This situation is not acceptable.

“The Academy provides opportunities for African countries and experts to share practical experiences and learn from each other to improve PFM practices across the continent,” he said.

Urama said that by bringing together experts and practitioners from Africa and its development partners, the bank encouraged peer-to-peer learning among the experts and African practitioners.

He said it also aimed to ensure that PFM programme were duly embedded in the realities of countries.

The vice president also commended all who had made the programme successful and called for collaboration from all to make Africa a great continent.

Meanwhile, Dr Tope Fasua, the Special Adviser to the President on Economic Affairs in the Office of the Vice President, said the programme’s curriculum was rounded and apt.

“Especially for the needs of our countries in upscaling the urgently needed knowledge and capability of public officials who work in government’s public financial and debt management functions.

“This graduation of deserving participants, which we are witnessing today, is a testament to the commitment of the Bank in responding to the needs of the regional member countries.

“To fast-track capacity development towards the achievement of the Bank’s High 5’s Agenda, the UN Sustainable Development Goals and the African Union (AU) Agenda 2063,” Fasua said.

He said that as the largest economy and most populous country in Africa, Nigeria occupied a very strategic place in the economic development ecosystem of the continent.

According to Fasua, public financial and debt management remains on the front burners of the government’s “Renewed Hope Agenda” for economic growth and shared prosperity for all citizens.

He urged the graduands to cascade down the knowledge acquired from the training colleges in their various countries.

In his valedictory speech, Isaac Kurasha, from the National Treasury South Africa, thanked the Bank for the opportunity to be part of the training.

Kurasha urged his colleagues to practice all they had gained throughout the training programme.

He said, “throughout the training programme, we contemplated the lack of implementation of actions as one of the weaknesses in our jurisdictions.

“From this cohort, we should be the game changers. Let us go and influence implementation. No matter the positions we hold, let us go and influence change. ”

Kurasha expressed the hope that when the bank called participants to share progress made, there would be positive confessions and impacts in various countries.

He said that to complement the public finance management training, good planning and performance monitoring were key, adding that these were incompatible in several countries.

“Furthermore, gender mainstreaming requires attention, especially with respect to women’s economic empowerment, and so does climate change and its financing.

“I believe we need more capacity in these areas. I hope the African Development Institute is also looking into these subject areas for capacitation,” Kurasha said.

NAN reports that the participants comprised mid-to senior-level officials from the Ministries of Finance and Planning, central banks, and other public financial management institutions across African countries.

Participants were also drawn from key anti-corruption agencies and statistical offices. (NAN)(www.nannews.ng)

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Edited by Ese E. Eniola Williams

By Lucy Ogalue

African Development Bank (AfDB) has finalised arrangements to disburse 618 million dollars to Nigeria under the Investment in Digital and Creative Enterprise (i-DICE) programme.

AfDB’s Country Director-General for Nigeria, Mr Lamin Barrow told the News Agency of Nigeria (NAN) in Marrakesh, Morocco on Sunday that the Nigerian government was in the process of recruiting a fund manager for the project.

Nigeria inaugurated a 618 million-dollar technology fund for young investors under the iDICE programme on March 14.

The fund, inaugurated by former Vice-President Yemi Osinbajo, aimed to support investors who struggled to raise money in Nigeria’s technology and creative sectors.

Of the 618-million-dollar fund, 45 million dollars will come from Nigeria through the Bank of Industry.

The AfDB will contribute 170 million dollars; Agence Francaise de Development will contribute 116 million dollars, while the Islamic Development Bank will invest 70 million dollars.

Barrow said the implementation of the project was staggered because of Nigeria’s government transition.

“We were caught up by the transition of government and you have to allow the new government to settle in.

“The steering committee, chaired by the vice-president with membership from the Ministries of Finance, Trade and Investments, Communication, Science and Technology, Information and Culture, met and received a briefing.

“We are now at the point of disbursement and the team has assembled the necessary procurement work.

“This has to do with the recruitment of the transaction adviser and the Expression of Interest for firms that want to manage the DICE funds,’’ he said.

He added that a lot of work had been done and it included advanced meeting on the first disbursement.

“Last week, the French minister that visited Nigeria signed the agreement for the co-financing as DICE is being co-financed by the French Development Agency and the Islamic Development Bank. All the processes are now virtually completed.

“The important thing is that the fund and the recruitment processes for a fund manager will soon occur.

“The fund will be independently managed by the fund manager who will also contribute to the fund by supporting start-ups,’’ Barrow said. (NAN)(www.nannews.ng)

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Edited by Alli Hakeem

By Lydia Ngwakwe

The Chartered Institute of Bankers of Nigeria (CIBN) and the Lagos Business School (LBS) have collaborated to launch novel dual qualification programmes, the MBA/Chartered Banker and SMP/Chartered Banker programmes.

The President, CIBN, Dr Ken Opara, FCIB, confirmed this in a statement on Friday in Lagos.

Opara said the launch took place at a cocktail event at the LBS on Nov. 1.

According to him, the cocktail session was to commemorate the commencement of the CIBN/LBS collaborative Chartered Banker/SMP two-in-one programme.

He said the dual certification programme, which was the maiden edition, would help participants to gain an understanding of the present business environment in Africa.

He said the programme would improve the managerial competencies and strategic thinking capacities of industry executives, while also implementing strategies for effective change processes.

“With an SMP/MBA from LBS and an ACIB certification from CIBN, you gain access to a global network of international business leaders across Africa, the knowledge and skills to accelerate your career and thrive in the African business market at affordable and flexible pay,’’ Opara said.

He added that the programme would provide financial services professionals with a solid foundation in management and leadership through hands-on training, cross-functional skills development, peer learning and case studies.

These programmes, he said, were structured to fast-track competence and skills development of financial service industry professionals.

Opara said the programme would afford participants the opportunity of running one programme and gaining two qualifications.

“This means that you can earn the Chartered Banker designation (ACIB) and the SMP certification by completing a single programme: Chartered Banker (ACIB) and SMP,’’ he stressed.

He urged people to click on the link https://tinyurl.com/CIBNLBSProgram, to read more.

Opara expressed his sincere congratulations to the LBS for their partnership with the CIBN in launching the two-in-one certificate programme.

He noted that the LBS has continued to play a frontline role in the area of executive education in Nigeria, maintaining very high standards.

“As an advocate of future and younger generations, this programme is apt as the mode of delivery is hybrid.

“This would help participants achieve their objectives without limitation. The initiative is leaning into the future and aligns with the changing business landscape.

“I am resolute that this initiative will enhance the desired capacity development in the financial services industry and both institutions, that is, CIBN and LBS will be remembered for packaging the programme,’’ he said.

Opara noted that the CIBN remains commited to its statutory manadate of ensuring the observance and maintenance of ethics and professionalism in the banking and finance industry.

He harped that the institute has remained the conscience and moral compass for the industry in its 60 years of existence.

Prof. Chris Ogbechie, Dean, LBS, noted in his remarks that the financial services sector plays a very significant role in the life of any country.

He said, “As such, the LBS is excited to collaborate with the CIBN toward deepening the knowledge and capacity of professionals in the financial services ecosystem.”

He commended the CIBN for the laudable initiative and admonished practitioners in the industry to take advantage of the unique programme.

The event was attended by President/Chairman of Council of CIBN, Dr Ken Opara, Akin Morakinyo, Registrar/Chief Executive, CIBN, Prof. Chris Ogbechie, Dean, LBS, and the Programme Director, Dr Nkemdilim Iheanachor, LBS, resource persons and the participants. (NAN)

Edited by Chinyere Joel-Nwokeoma