AfDB Annual Meetings: Infrastructure key to Africa’s integration
CNBC Africa interviewed Mohamed El Azizi, Director General of the African Development Bank in North Africa on enhancing Africa's Entrepreneurship Development Programme and fast-tracking climate adaptation.
Thu, 25 May 2023 13:29:07 GMT
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AI Generated Summary
- The African Development Bank is focusing on enhancing food security in North Africa by emphasizing water and food security initiatives.
- The promotion of Public-Private Partnerships (PPPs) is attracting private sector investments in critical sectors like energy and roads.
- The Bank is fostering entrepreneurship and supporting startups in North Africa through initiatives like Souq al-Tanmiya and youth investment banks.
North Africa is facing a multitude of challenges, with climate change at the forefront of issues impacting the region. Mohamed El Azizi, Director General of the African Development Bank in North Africa, highlighted the severity of water scarcity and droughts plaguing countries like Morocco and Tunisia. The effects of climate change have led to a significant reduction in wheat production and unprecedented rainfall patterns. In response to these challenges, the African Development Bank is focusing on enhancing food security in North Africa by emphasizing water and food security initiatives.
One of the key strategies being employed is the promotion of Public-Private Partnerships (PPPs) to attract private sector investments in critical sectors such as energy, roads, and solar energy. The African Development Bank has been actively involved in supporting the development of PPP frameworks and laws in countries like Tunisia, Morocco, and Mauritania. These initiatives have paved the way for increased private sector involvement in infrastructure projects, boosting economic development in the region.
Moreover, the bank has been instrumental in fostering entrepreneurship and supporting startups in North Africa through initiatives like Souq al-Tanmiya. This program has successfully promoted over 800 startups in Tunisia and has expanded to Egypt and Morocco. Furthermore, the establishment of youth investment banks aims to engage young entrepreneurs in the region, creating a vibrant ecosystem for private sector growth.
On the issue of prioritization, El Azizi emphasized the importance of water management and social protection across North African countries. Strategies like the development of a water vision for 2050 in Tunisia and the construction of dams in Morocco underscore the commitment to enhancing water security in the region. Additionally, efforts are underway to optimize water usage and facilitate transfers between regions to mitigate the impact of water scarcity.
In terms of regional collaboration, the African Development Bank is facilitating partnerships between countries to address common challenges and leverage shared resources. Platforms like the entrepreneurship platform for North Africa and forums that bring together ministers from different sectors are promoting knowledge sharing and cooperation. The bank is driving regional integration projects, such as the development of a bridge between Mauritania and Senegal, to enhance connectivity and facilitate trade within the region.
As the discussions at the regional economic communities in Sharm El Sheikh concluded, El Azizi emphasized the importance of fostering collaboration between these regions to advance the continent. Enhancing cooperation and knowledge exchange between regional economic communities is vital for driving progress and achieving initiatives like the African Continental Free Trade Area (AfCFTA). By working together and sharing experiences, countries in North Africa can overcome challenges posed by climate change and infrastructure development, ultimately leading to sustainable growth and development across the region.