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· Programme will respond to the urgent need for infrastructure investment and reform in Africa
· Six-month capability-building programme will give participants a robust understanding of procurement, governance and the role of the private sector in infrastructure projects
· More information about the Africa Infrastructure Fellowship Programme here
Geneva, Switzerland, 12 July 2018 – The Africa Infrastructure Fellowship Programme (AIFP) was today announced by Jean-Baptiste Lemoyne, Minister of State attached to France’s Minister for Europe and Foreign Affairs.
The World Economic Forum, the Global Infrastructure Hub and the private investment firm Meridiam have partnered to create the Africa Infrastructure Fellowship Programme (AIFP), an initiative to help African governments strengthen internal procurement capability by training and retaining key officials in procurement agencies, with the aim of attracting greater private-sector investment to Africa.
The components of the programme will be tailored to the needs of each country but, at its core, the AIFP will be made up of the following elements:
· Three-day introduction to infrastructure procurement and networking with peers (provided by GI Hub)
· Tutoring and examination through the Multilateral Development Banks’ Private Public Partnerships certification course
· Two-week intensive course in infrastructure procurement (provided by selected universities)
· Two-month placement in a private-sector company’s infrastructure team
· Ongoing support for 12 months following the programme, including twice-yearly AIFP-related events hosted by the GI Hub
“It is important to emphasize that this project is in line with the mission of the Forum, to improve the state of the world. It is necessary to highlight the importance of jointly solving the challenges that surround the development of infrastructure at the global level,” said Denise Burnet, Head of Event Management and Member of the Executive Committee at the World Economic Forum.
Chris Heathcote, Chief Executive Officer of the Global Infrastructure Hub, said that, despite ongoing efforts, attracting private-sector investment into Africa remains a major challenge, and is a barrier to achieving the UN Sustainable Development Goals.
“In order to meet the UN SDGs and the demands of accelerating economic and population growth in the African continent, we forecast that these countries will need to spend $7.6 trillion to 2040. Our analysis forecasts that the continent will invest $4.3 trillion based on current trends, exposing an investment gap of $3.3 trillion, or 43%. Investors will only invest in countries where market conditions are favourable, and it’s our goal through this initiative to assist in creating an environment that is conducive to private-sector investment in infrastructure,” said Heathcote.
Thierry Déau, Chief Executive Officer of Meridiam, added: “As long-term investors, we are convinced that key success factors to projects rely on excellent synergies between the private and public sector. We chose to accompany the AIFP initiative, convinced that this agile organization based on strong commitments of stakeholders is the perfect tool to accelerate the deployment of sustainable infrastructure in Africa.”
Africa has the highest population growth globally, and a number of its countries rank highly in terms of economic growth; and yet these countries also have the lowest growth in infrastructure stock.
The AIFP will be a six-month capability-building programme that will give participants a robust understanding of procurement, governance and the role of the private sector in infrastructure projects. The programme will provide participants with a mix of theoretical and practical training, opportunities to work within major private-sector companies, and lead to the establishment of a strong network of infrastructure practitioners across Africa. Please find further information here: https://www.gihub.org/aifp
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