Foundation invests $700 billion in Africa’s capacity building

The African Capacity Building Foundation (ACBF) the sepecialized agency with 40 African member states, says it has invested over $700 billion on capacity development in different African countries since its establishment in 1991.

“Over the past 26 years we have invested over $700 billion in capacity building in 45 African countries,” said the Excutive Secretary of ACBF, Prof. Emmanuel Nnadozie. “Among our major achivements are building capacity of thousands of professionals in different areas as well as the establishment 40 thinktanks in different African countries,” he said in Addis Ababa at the sidelines of the 30th African Union Summit.

In addition to member countries fees, ACBF has been mobilizing resources from multiples sources including bilateral and multilateral funders such as the African Development Bank, the World Bank and the United Nations Development Program. “We also work with OECD countries and individual countries such as Australia on specific projects,” he said.

Indicating that there is huge demand for capacity building in Africa both in terms of skills development and improving institutional capacity, Pro. Nnadozie noted retaining those skilled within the continent is also a problem ACBF has been working to address.

“In the coming five years we plan to continue focusing on skills development at national level and institutional capacity development of government institutions, private sector, civil societies and continental organizations,” he added.