The Dean of the University of Ghana Business School (UGBS), Professor Justice Nyigmah Bawole, attended a virtual meeting organised by the African Development Bank (ADB) Group on Tuesday, 16th March 2021, via Zoom. The meeting, themed “Strengthening Institutional Capacities for Inclusive Development in Post-COVID-19 Africa”, was geared towards sharing knowledge and ideas that seek to address gaps in the structure and scale of funding constraints to African institutions.
As per the African Development Bank’s Annual Development Effectiveness Review 2013, Africa is now the fastest-growing continent in the world. This has resulted from an improvement in economic governance structures across the region. Such improvements birth from interactions between the academic world and players from industry. Thus, this meeting can be described as one of such engagements that aid the progress Africa is experiencing.
The meeting was graced by prominent scholars such as Professor Alex Ezeh, Dornsife Professor of Global Health, Drexel University of United States of America; Professor Oyebanji Oyelaran-Oyeyinka, a Senior Adviser to the President of African Development Bank, Cote d’Ivoire; Professor Desire Vencatachellum, Director, Resource Mobilization and External Finance, President of African Development Bank, Cote d’Ivoire, among others.
Panellists at the meeting were grouped into three sessions, where each had separate themes to be discussed. Professor Justice Bawole delivered a presentation themed, “Continental Strategy for Mobilizing Resources for Africa’s Knowledge Capacity and Institutional Development in post-COVID-19 Africa”. He stated that Africa’s knowledge capacity and institutional development limitations are resulting from impeded targeted resource mobilisation leading to several effects on a nation’s development.
He indicated that resource mobilisation and investment in capacity development are weak and sporadic. Hence, he suggested to the panel that in order to enhance continental strategy for resource mobilisation, institutions of higher learning should be given the mandate to raise concessionary finance from the bilateral agencies and the capital market to finance activities that are preconditions for attracting sufficient funding. He also proposed a market-shaping approach and a regional programmatic approach for resource mobilisation.
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