The Rockefeller Foundation announces a $500,000 Inclusive Economies Accelerator Fund for Africa with AfDB and partners
[caption id="attachment_14638" align="alignleft" width="290"] Photo: Office of the Presidency of Kenya
President Kenyatta’s speech – Africa Forum on Inclusive Economies.[/caption] The Rockefeller Foundation, the African Development Bank (AfDB) and the United Nations Economic Commission for Africa today convened the Africa Forum on Inclusive Economies to discuss greater inclusion as Africa grows economically. In the last decade, Africa has experienced unprecedented growth for the continent with the influx of multinational corporations creating new market opportunities for millions and making Africa a prime destination for investment and entrepreneurs. But, as this African Renaissance has taken shape, now is the time to ensure that the growth Africa is experiencing is inclusive and ultimately sustainable – taking advantage of all the human capital Africa has to offer by reaching both the bottom and the top of the pyramid. The forum has brought together key thought leaders and policy makers from 23 African countries and beyond to closely discuss and propel forward thinking and action around the theme of ‘Advancing inclusive economies in Africa’, and to help develop and embed a common understanding on Inclusive Economies within the African context. The opening ceremony was officiated by H.E President Uhuru Kenyatta, President of the republic of Kenya, who was joined by Dr. Zia Khan, Vice President of the Rockefeller Foundation, Mamadou Biteye, Managing Director of the Rockefeller Foundation Africa Regional Office, Geraldine Fraser-Moleketi, AfDB Special Envoy for Gender, and Takiywaa Manuh, UNECA’s Director, Social Development Division. As a next step, the Rockefeller Foundation intends to create a $500,000 Inclusive Economies Accelerator Fund for Africa that will provide support for innovations designed to accelerate the development of an inclusive economies agenda. The fund is open to partners’ contributions, and AfDB and Microsoft intend to contribute to the fund. The objective of the African Forum on Inclusive Economies was threefold:
- Focus new ideas towards the advancement of an inclusive economies approach with key African institutions and influencers;
- Crowd in significant resources towards activities, measures and metrics that will provide practical opportunities for influencers and institutions to adopt best practice options in advancing inclusive business practices; and
- Provide a platform to further enhance thinking and critical debate on the issue of inclusive economies.
- A common understanding of the current status of inclusivity in Africa.
- Challenges and opportunities that Pan African institutions should embrace in order to advance an inclusive national and regional agenda.
- Broader acceptance of the Africa Social Development Index as a tool for national target setting and measurement of inclusivity.