’Efficient Project Delivery Key to Economic Growth’

The New Partnership for Africa’s Development (NEPAD) has said efficient project delivery is key to Africa’s expeditious economic growth.

Chief executive officer Ibrahim Mayaki said it was important for Africa to ensure that there was efficiency in project delivery if sustainable growth was to be achieved.

Dr Mayaki called for efficient project delivery and coordination of United Nation’s support as a key success factor to implement Agenda 2063, Africa’s long-term development strategy.

He was speaking in a series of events at the African Union Conference of African Ministers of Economy and Finance (CAMEF) held in Abuja, Nigeria, from March 25 to 30.

More than 50 African ministers of Finance attended the meeting to find alternative ways of financing African development programmes, such as the Programme for Infrastructure Development in Africa (PIDA).

Nigeria’s Minister of Finance, Dr Ngozi Okonjo-Iweala commended the significant role NEPAD has played in the implementation of PIDA as well as achievements in developing Africa’s energy sector.

NEPAD has taken the lead in the process of prioritising PIDA projects that will accelerate investment in infrastructure development, so as to better connect and integrate Africa.

Dr Mayaki also gave a presentation on the “Power Africa” initiative, which is a five-year energy plan spearheaded by US President Barack Obama.

The Power Africa Initiative was launched in Tanzania in July 2013 during President Obama’s visit to that country.

The initiative aims to support economic growth and development by increasing access to reliable, affordable, and sustainable power in Africa.

Source : The Times of Zambia

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