Overview
The African Center for Economic Transformation (ACET) in collaboration with the G20 Compact with Africa (CwA) will host a virtual peer learning workshop on the theme “Global Financial Architecture Reforms to Accelerate Investment in Africa.” This event will focus on crucial reforms to the global financial architecture that are essential for accelerating investment in Africa. Join us on July 11, 2024, from 1:00 – 2:30pm GMT to engage in this important dialogue.
About Compact with Africa (CWA)
Launched in 2017 under the German G20 Presidency, the Compact with Africa (CwA) initiative aims to foster private investment in Africa by enhancing the macro, business, and financing frameworks. It brings together 13 African nations, international organizations like AfDB, IFC, IMF, and World Bank, and bilateral partners from G20 countries to support this objective. ACET has been pivotal in this initiative by providing independent reviews of country progress, policy research, expert advice, and facilitating over 20 peer learning sessions on various critical topics.
Event Background: Global Finance Reforms
The ongoing reforms in the global financial architecture present significant opportunities for African economies, especially in accelerating investment. However, for these reforms to be effective, African financial institutions must be actively engaged. This event will explore the current state of the global financial architecture, the progress made in aligning African leadership on financial issues, and the need for further reform to address challenges like higher interest rates, limited market access, and escalating debt burdens.
Key Objectives
This peer learning event aims to gather input from relevant government officials of CwA countries on necessary global financial architecture reforms. The dialogue will focus on the following questions:
- What reforms are required by Multilateral Development Banks (MDBs) to align their financing strategies with Africa’s development priorities?
- What incentives must African governments provide to leverage private financing, including in support of climate-smart investments?
- What credit enhancement, guarantee, and other innovative financing mechanisms can be adopted by MDBs and African financial institutions to mitigate the real and perceived risks of investing in Africa?
- How can African governments and African financial institutions work in a coordinated manner to mobilize financing for transformational projects in Africa?
