By Nse Anthony-Uko,
ABUJA, (Sundiata Post) – The African Capacity Building Foundation has approved a grant of USD 1.4 million for the West African Institute for Financial and Economic Management to help it improve the training of financial and economic professionals in Nigeria and West Africa.
“The grant will help the Institute to train a new cadre of experts locally, thereby saving the amount previously spent on sending them overseas,” ACBF’s Executive Secretary Prof. Emmanuel Nnadozie said in Abuja recently. The grant will also enable WAIFEM to conduct research in critical areas, including infrastructure and trade & financing,” he said.
The latest assistance brings to USD 8.4 million the total amount WAIFEM has received from ACBF since 2005, the Executive Secretary said.
For more than 10 years, ACBF has supported WAIFEM in training more than a 1,000 o6cials from West African central banks, ministries of finance and planning, and
private sector organisations. It has equally assisted it to establish a video conferencing and training facility to expand access to the Institute’s programs.
Based in Lagos, Nigeria, WAIFEM partners with major global bodies such as the World Bank, IMF and other regional organisations to deliver quality education to Nigerians and other West African nationals.
Established in 1991, the ACBF builds human and institutional capacity for good governance and economic
development in Africa. To date the Foundation has empowered people in governments, parliaments, civil
society, private sector and higher education institutions in more than 45 countries and six regional economic
communities. ACBF supports capacity development with grants, technical assistance and knowledge across
Africa. The establishment of ACBF was in response to the severity of Africa’s capacity needs, and the challenges of investing in indigenous human capital and institutions in Africa.