UNDP Africa

Happy #UNDay2024 🙏 At UNDP's Regional Service Centre for Africa, we are committed to forging partnerships and facilitating sustainable, innovative solutions that benefit all people and our planet. We are proud to be part of the United Nations 🇺🇳

What could African countries do to negotiate better credit ratings & lower the cost of borrowing❓ 👇🏾Find out from Ahunna Eziakonwa UNDP why you should tune in for a special conversation ahead of #AM2024 #WashingtonDC 🗓️ 24 October 🕙 10 am ➡️ Bit.ly/AfriCreditRatings

From 9 to 11 October 2024 in Kigali, 🇷🇼, Africa’s top entrepreneurs, policymakers, and investors came together at the #BiasharaAfrika Forum to shape the future of intra-African trade under the #AfCFTA 🌍. UNDP Africa works closely with the African Continental Free Trade Area (AfCFTA) Secretariat and other partners across African countries to ensure that SMEs are equipped to leverage new market opportunities, enhance regional integration, and drive sustainable development. Key highlights include: ➡ Strengthen women 🚺 and youth entrepreneurs’ 💼 export capacity by fostering regional value chains and connecting 🤝 them with large buyers. ➡ Bridge gaps in supply chains 🚚 and expand market opportunities for MSMEs across Africa via digital 💻 platforms. ➡ Pave the way for seamless trade and inclusive growth through strategic partnerships and investments💰 . We are proud to collaborate with partners in building a more inclusive, prosperous Africa where trade and innovation fuel long-term growth. 🎥 Check out the highlight video 👇 #AfCFTA #HerAfCFTA #AfCFTA4Youth

Great meet Ahunna Eziakonwa and explore opportunities to accelerate Africa's decentralises solar energy revolution. Voluntary Carbon Credits, for example, could unlock tens of thousands solar+ battery investments across Sub-Saharan Africa the coming years.UNDP Africa The Global Energy Alliance for People and Planet (GEAPP) Africa Carbon Markets Initiative (ACMI) Global Factor

Sincere thanks to H.E. Joseph Dion Ngute, Prime Minister of 🇨🇲, for taking the time to meet with UNDP Africa delegation led by Matthias NAAB.We appreciate the opportunity to discuss how we can continue supporting the Government of Cameroon in advancing sustainable development and enhancing resilience. I look forward to our continued collaboration.

After decades of conflict & over 1 million displaced, new infrastructure is paving the way for stability, essential services, & the return of 227,000 people in the Central African Republic. Watch how UNDP & partners are making a difference 👇🏾 UNDP Africa

From 8-10 October, UNDP co-hosted an Experts Meeting on Credit Ratings in partnership with African Peer Review Mechanism (APRM), United Nations Economic Commission for Africa and the African Development Bank Group in Cairo, Egypt. The dialogue brought together 90 participants, including representatives from development banks, international organizations, domestic credit rating agencies, central banks and ministries of finance. The focus of the discussions was to share best practices for improving credit ratings in African countries and to develop a roadmap for establishing an independent and credible African Credit Rating Agency (#AfCRA). Participants shared that African countries are often underserved by global credit rating agencies, and that a lack of tailored assessment approaches results in debt mispricing driven by external perceptions. Here are three key recommendations 👇 1. Greater transparency and collaboration among African governments, credit rating agencies and global stakeholders is crucial for reforming the credit rating process and supporting Africa’s economic transformation, in line with #Agenda2063 and #Agenda2030. 2. We need long-term, development-friendly approaches to areas often overlooked by rating agencies, such as sustainable infrastructure and green transitions. This can improve the fairness of ratings assessments for African countries. 3. Strengthening domestic, regional and international partnerships is key to reforming the global financial system and ensuring affordable financing access for Africa. 💡 To learn more about UNDP's capacity building initiative on credit ratings, visit: go.undp.org/creditratings #AfCRA #CreditRatings #CreditRatingsAfrica #DevelopmentFinance

NEXT WEEK: UNDP Africa is pleased to be partnering with The Brookings Institution's Africa Growth Initiative (AGI) to host a conversation on how improving sovereign credit ratings can significantly lower borrowing costs, alleviate debt stress and unlock more affordable development financing for African countries. Organized on the margin of the 2024 Annual Meetings of the International Monetary Fund (IMF) and the World Bank Group (WBG), speakers at this high-level dialogue will identify actionable strategies to improve credit ratings assessments with the goal of creating fairer, more objective credit ratings. Confirmed speakers: 👉 Hon. Dr. Retselisitsoe Adelaide Matlanyane, Minister of Finance and Development Planning, Lesotho 👉 H.E. Ahmed Shide, Minister of Finance and Economic Cooperation, Ethiopia 👉 Dr. Natu E. Mwamba, Permanent Secretary, Ministry of Finance, Tanzania 👉 Dr. Brahima S. Coulibaly, Vice President and Director, Global Economy and Development Program, The Brookings Institution 👉 Ahunna Eziakonwa, UN Assistant Secretary-General and Director, UNDP Regional Bureau for Africa 👉 Dr. Daouda Sembene, Chief Executive Officer, AfriCatalyst 👉 Dr. Kamau Thugge C.B.S., Governor of the Central Bank, Kenya (TBC) 👉 Claver Gatete, Under-Secretary-General and Executive Secretary, UN Economic Commission for Africa (TBC) Additional collaborators include AfriCatalyst, African Center for Economic Transformation (ACET) and the Glasgow Financial Alliance for Net Zero (GFANZ). Title: Pathways to Tackling Africa's Debt Crisis through Improved Credit Ratings Date: Thursday, 24th October, 2024 Time: 10:00 a.m- 11:30 a.m EDT Register now: bit.ly/AfriCreditRatings This event will be accessible for both in-person attendees and online viewers in English, with French interpretation available. #CreditRatings #CreditRatingsAfrica #WBGMeetings

📢Big milestone for #CAR 🇨🇫  After decades of conflict & over 1 million ppl displaced, new infrastructure is paving the way for stability, essential services & the return of 227,000 ppl in the northwest. 👇🏾Watch how UNDP, KOICA, Japan Government, European Commission, African Development Bank Group are working with the Government to make a difference through #stabilization.

🌍 Unlocking Africa’s innovation potential    We sat down with Ahunna Eziakonwa, UNDP Africa 's Regional Director for Africa, to talk about the timbuktoo Africa initiative.   Her message to our #Youth4Climate community? This is your moment. Your ideas and energy can shape Africa’s sustainable future.