African Infrastructure Guarantee Mechanism (AIGM), Mauritius

AUDA-NEPAD officials attended the 3^rd African Pension Funds and Alternative Investments Conference in Mauritius from the 20^th – 21^st of March 2019. AUDA-NEPAD presented a session on Scaling Risk Mitigation to enable greater pension fund investment in Africa’s Infrastructure: The African Infrastructure Guarantee Mechanism. The conference resulted in meaningful discussions as the event was well attended by an audience mostly composed of industry players (private pension fund administrators, trustees, asset managers, government pension funds and Development Finance Institutions), this demonstrated and reiterated the significance of the African Infrastructure Guarantee Mechanism as an initiative by AUDA-NEPAD to  increase the allocation of African asset owners from an approximate 1.5% to 5% of Assets under Management (AUM) by reducing the risk and crowd in the capital markets players’, pension funds, investment managers and other financial investors in Africa’s infrastructure.

Fourth PIDA Week, Victoria Falls, Zimbabwe

Fourth PIDA Week’s theme was “Good Governance – realizing Smart Infrastructure for Africa’s Integration”. The 2018 PIDA Week built on previous events to continue to engage stakeholders on the effective delivery of infrastructure on the continent focusing specifically on good governance and how it can specifically help to: enable project preparation and implementation support resource mobilisation, promote private sector confidence to invest in PIDA projects, and encourage integration of PIDA projects into national development plans. As part of the strategy of cross-linkages with PIDA stakeholders, PIDA Week 2018 incorporated the Africa Forum for Utility Regulators (AFUR) AGM and annual conference for robust engagement.

Third  PIDA Week, Swakopmund, Namibia

This year’s PIDA Week focused on the theme “Regional Infrastructure Development for Job Creation and Economic Transformation” – a central element was the so-called “market packaging” of five PIDA Programmes that are particularly impactful for socio-economic development. By presenting respective action plans, project owners were seeking further financing partners for its realization. Another highlight was the High Level Roundtable on Job Creation, Trade Facilitation and Economic Transformation through Regional Infrastructure, which was opened by the NEPAD Agency and its achievements in support of job creation and intra-African trade.

AU-EU Summit, Abidjan, Côte d’Ivoire

The African Union (AU) and the European Union (EU) hosted a joint summit, the 5^th AU-EU Summit in Abidjan, Côte d’Ivoire from 29^th to 30^th of November 2017. The AU-EU Heads of State and Governments Summit takes place every three years and reviews progress made in the implementation of joint programmes to provide political and technical guidance on further actions. In this regard, the 6^th EU-Africa Business Forum were held, in which the NEPAD Agency and AUC-DIE represented PIDA at numerous events. One of the activities was the presentation, “market packaging”, of five PIDA Programmes seeking investment opportunities.

PIDA Job Creation Toolkit at Africa Talks Jobs, Addis Ababa, Ethiopia

After a successful first phase of developing a methodology for the estimation of labour market effects of PIDA projects, the results and the way forward of the PIDA Job Creation Toolkit were presented at the Africa Talks Jobs event. The Toolkit not only estimates the type and quantity of jobs that can potentially be created by PIDA projects, but it also provides actionably strategies and policy recommendations how to maximize local jobs and improve skills development. PIDA as a key driver for job creation and the PIDA Job Creation Toolkit as a future labour market information tool were incorporated to the final declaration which eventually will be forwarded to the AU-EU Summit in Abidjan, Cote d’ivoire.

Launch of 5% Agenda at NASDAQ, New York

The NEPAD Agency’s Continental Business Network, along with Africa investor (Ai), gathered international investors and CEO-level business leaders at NASDAQ on the 18th of September, for the launch of the 5% Agenda initiative. The 5% Agenda campaign highlights that only a collaborative public-private approach can efficiently tackle these issues and calls for allocations of institutional investors to African infrastructure to be increased to the declared 5% mark. Speaking at the launch event in New York, Ibrahim Assane Mayaki, NEPAD Chief Executive Officer, indicated that, for pension and sovereign wealth funds to invest in large-scale infrastructure projects in Africa, a variety of issues need to be addressed to facilitate long-term allocations. Chief amongst these matters is the need to reform national and regional regulatory frameworks that guide institutional investment in Africa.

First PIDA Public Private Partnerships Training Module in Dakar, Senegal

For the first time the NEPAD Agency and AUC-DIE in cooperation with the AfDB and the German government (via GIZ), organized capacity development training scheme for public officials/project implementers from Regional Economic Communities, national infrastructure departments and specialized institutions. Accordingly, the expertise in preparing, negotiation, procuring and managing PPPs for large scale and cross-border infrastructure projects was strengthened. The training was held in Dakar, Senegal.

Endorsement of PIDA Action Plan by AU Executive Council during AU Summit

The executive council of the AU endorsed the report of the first Specialized Technical Committee (STC) on Transport, Energy and Tourism as well as the sector action plans and the specific action plan for PIDA. Additionally, Member States were asked to further commit to the implementation of the Yamassoukrou Decision; to commit to PIDA and its significance for the implementation for Agenda 2063 and 2030 – call on Member States to mobilize resources and that generally PIDA and large scale infrastructure is significant in creating jobs.

The first AU Specialized Technical Committee on Infrastructure recognizes PIDA

The first ordinary session of the African Union specialized technical committee on transport, transcontinental and inter regional infrastructure, energy and tourism took place from 13th – 17th of March 2017 in Lomé, Togo. Among others, The Declaration of Lomé invited all African stakeholders to enhance coordination and synergies in regard to PIDA; requested Member States to include PIDA PAP projects in their national budget and infrastructure plans and requested AUC-DIE and NEPAD to finalize the PIDA Job Creation Toolkit in order to successfully estimate and track labour market effects of regional infrastructure.

Second PIDA Week held and PIDA Progress Report launched

The second PIDA Week under the title “Creating Jobs through Regional Infrastructure Development” were held in Abidjan, Cote d’Ivoire. Also, for the second time, the PIDA Progress Report was presented as a result of the extensive PIDA M&E System.

Launch of the 2nd PIDA CBN Report

At the sidelines of the World Economic Forum in Kigali, Rwanda, the PIDA Continental Business Network launched its 2nd report titled “De-Risking Infrastructure and PIDA Projects in Africa”. One of its key recommendations concluded to establish a co-investment platform that seeks to increase the financing of African infrastructure projects by African pension funds and sovereign wealth funds

The launch of MoveAfrica

The NEPAD Agency launched MoveAfrica as an Initiative to facilitate trade and logistics along corridors. The initiative was launched in May 2016 in Kigali on the margins of the World Economic Forum (WEF). The initiative aims to address the transformation of the transboundary transport and logistics sector in Africa. The NEPAD Agency’s focus as the Africa Union’s Development Agency is on implementing Regional Projects, in-order to promote regional markets and double digit growth, towards the Continental Free Trade Area, bearing in mind that transport and trade corridors are an increasingly common approach to accelerating cross-border investments.

First PIDA Week, Abidjan, Côte d’Ivoire

The PIDA Week was launched, as a recommendation of the PIDA Communication Network, is an information tool to increase the visibility of PIDA and in addition to it, a platform for targeted PIDA promotion and a mutual exchange between all PIDA relevant actors. The PIDA Week shall be organised once a year. Subsequently, PIDA Steering Committee Meeting was held for the first time in October 2015.

Launch of the Continental Business Network (CBN)

The Continental Business Network (CBN) is an African Union Heads of State and Government response to facilitate private sector advice and leadership in essential continent-wide infrastructure projects, notably PIDA, through the creation of a high-level private sector forum. In this regard, the CBN acts as an exclusive Infrastructure Investment Advisory platform for African leaders, providing thought leadership and engagement on a range of strategic issues like policy, investment risk rating(s), project structuring and specifically the existing constraints to the implementation of the PIDA projects. The Network will comprise leading African and global business and finance bodies as well as regional and international organizations. The purpose of the CBN is to engage and advance private sector priorities and requirements to invest in PIDA projects.

The Project Preparation Facilities’ (PPF) Roundtable

To address the lack of funding for project preparation, the NEPAD Agency organized a Roundtable of Project Preparation Funds (PPFs) in the course of the last ICA Annual Meetings in Cape Town/South Africa in November  2014. During this meeting, the PPFs agreed to cooperate with regards to PIDA project  preparation, since individually the different PPFs are generally too small to tackle projects the size of PIDA by themselves.The cooperation shall comprise financial cooperation, harmonization of application procedures, etc.

Introduction of the PIDA Service Delivery Mechanism (PIDA SDM)

This mechanism which is managed by the NEPAD Agency provides project implementers, most notably the Regional Economic Communities (RECs), with consultants to advise them on early stage project preparation (e.g.institutional and legal set up a project implementation and management unit.drafting of ToR for feasibility studies). The PIDA SDM is complementary with existing Project Preparation Funds (PPFs) since it helps to bring PIDA projects to the stage when feasibility studies can be undertaken. Then, PPFs can take over for the residual project preparation activities. The pilot project of this mechanism is the Abidjan-Lagos Corridor.

The Dakar Financing Summit (DFS)

Prior to the Summit,16 PIDA-PAP projects were selected,which are of particular interest for the private sectors.These projects were presented during the Summit to mobilise additional monetary resources. Also,the DFS identified major challenges to the PIDA Vision (Lack of capacity for project preparation, lack of funding for project preparation,etc.) and developed innovative solutions to tackle those bottlenecks.

Launch of the Africa 50 Fund

The Africa50 fund aims at mobilising private financing to accelerate the speed of infrastructure delivery in Africa,thereby creating a new platform for Africa’s growth. Africa50 focuses on commercially viable projects gaining returns.More importantly, the long-term strategic  aim is to directly invest USD 10 billion in projects,and facilitate total project  investment of USD 100 billion by crowding in private sector players.

Establishment of the Council for Infrastructure Development (CID)

As one of the key organ in the decision making process, the CID ensures coherence and harmony across sectors and identifies priority projects within PIDA. In this position, the CID develops and submits its recommendations to the African Head of States and Government at the AU Summit

Launch of Virtual PIDA Information Centre (VPIC)

VPIC serves as “one-stop­ shop” for all PIDA related inquiries.It facilitates the M&E process of PIDA-PAP projects and promotes PIDA to the wider public as an essential framework for the transformation of Africa (www.au-pida.org).

Presentation of the African Strategic Infrastructure Initiative

Led by the World Economic Forum (WEF), this initiative aims at effectively engaging the private sector in PIDA projects to accelerate their implementation. To this effect,a PIDA Business Working Group,comprising about 40 private sector institutions,was established. As a pilot project to foster and showcase their engagement,the Central Corridor was selected.