Wednesday, 28 March 2012
African Ministers of finance discuss the implementation of CAADP
Annual Meetings of the AU Conference of Ministers of Economy and Finance and ECA Conference of African Ministers of Finance, Planning and Economic Development. About 50 African ministers of Finance met for a two-day conference whose theme is “Unleashing Africa’s potential as a pole of global growth.”
A report on the implementation of the comprehensive Africa Agriculture Development Programme (CAADP), being reviewed by a committee of African economic, finance and planning experts who met ahead of the ministers, said ministers of finance have a key role in facilitating faster and better implementation of national agriculture and food security investment plans.
Key messages to Ministers of Finance
The report calls on ministers of finance to initiate and facilitate effective spending instruments like public expenditure reviews, effective monitoring and evaluation systems and regular sectoral reviews and dialogue mechanisms for agriculture and related sectors for better results. During budget discussions, emphasis needs to be placed on complementarities of different sectors as the only instrument to determine and allocate sector budgets, says the report. The report says “budget process in countries should be used as instruments for better inter-and-intra sectoral coordination and that during budget discussions, emphasis needs to be placed on complementarities of different sectors as the only instrument to determine and allocate sector budgets.'
In 2013, it will be ten years since the Comprehensive Africa Agriculture Development Program (CAADP) was endorsed in Maputo in 2003. Beyond the 29 countries that have signed CAADP Compacts, and more than 20 countries developed CAADP-based Agriculture and Food Security Investment Plans (AFSIPs), CAADP has since created space for inclusive participation of all relevant sector players – from within and outside the state and to the grassroots level. CAADP has raised the profile of the agricultural sector in national domestic politics and the attention to agriculture has significantly increased.
• 29 countries have signed CAADP Compacts
• 21 countries have CAADP Investment Plans Developed
• 15 countries have CAADP Business Meetings and defined financing modalities
• 6 received GAFSP money
• 7 have developed blueprints for private sector investment