Scaling up Africa’s financing for peacebuilding

Africa is a continent facing numerous conflicts that have a significant toll on its development and stability. Ahmed Abdel-Latif, the Director-General of the Cairo International Center for Conflict Resolution, Peacekeeping, and Peacebuilding, highlighted the need to scale up financing for peacebuilding to address these challenges effectively. In a recent interview on CNBC Africa, Abdel-Latif emphasized the urgent need to end conflicts and limit their impacts by increasing efforts to strengthen peacebuilding initiatives. He cited the example of northern Nigeria, where the economic losses due to terrorism amount to seven billion dollars per decade. This staggering figure underscores the severity of the situation and the necessity of addressing it promptly. Abdel-Latif called for innovative financing mechanisms and initiatives to bridge the existing gaps in peacebuilding funding. He acknowledged the crucial role of the African Development Bank in leading the way towards mobilizing resources for peacebuilding efforts on the continent. While there has been progress in policy development at the regional and continental levels, Abdel-Latif highlighted the implementation challenges on the ground. He pointed out the fragmented nature of peacebuilding efforts and the need for more concerted action to bridge the gap between policy and practice. In response to the question about the involvement of the private sector in peacebuilding, Abdel-Latif underscored the importance of engaging the private sector in conflict-affected regions. He stressed the need to change the risk perception of investors and promote investments in peace-positive initiatives. The African Development Bank's initiatives, such as security index investment bonds, were cited as positive steps towards mobilizing private sector resources for peacebuilding. Abdel-Latif also discussed the role of the Cairo International Centre for Conflict Resolution, Peacekeeping, and Peacebuilding in fostering partnerships to strengthen peace and security in Africa. He highlighted the center's focus on building the capacities of governments to address the nexus between peace, security, and development. As the Africa Resilience Forum concluded, Abdel-Latif reflected on the importance of partnerships and innovative financing for sustainable peacebuilding. He emphasized the proverb 'if you want to go fast, go alone; if you want to go far, go together,' underscoring the need for collective action to address the continent's complex challenges. In conclusion, Abdel-Latif called for greater support for local and national leadership in implementing long-term peacebuilding plans. He emphasized the need for continued partnerships and financing to sustain momentum and drive progress in building peace and resilience across Africa.