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  • Essay / NEPAD Business Foundation: achievements that can end aid

    NEPAD Business Foundation: achievements that can end aidThe NEPAD Business Foundation is by far the most ingenious of all NEPAD business groups in Africa and also remains at the forefront of implementing NEPAD policies. in the form of concrete action programs to promote growth. Since the group is made up of mostly private sector companies with broad business ideas and strategies, it has never had difficulty mobilizing resources given their track record as successful entrepreneurs. Unlike traditional government-to-government aid, in which no one in particular is held accountable for default or non-performance, the NEPAD Business Foundation as a group has financed its programs primarily from investments in group capital, business loans from the African Development Bank and the Industrial Development Corporation. (IDC) of South Africa, and contributions from governments in the case of public-private partnership. What makes these loans interesting is that they are not granted to governments but to entrepreneurs who know that they will be responsible for them when due. The following discussion will focus on some of their activities and programs which, when supported, can boost growth and end Africa's dependence on development aid and, by extension, public development assistance. NEPAD Business Foundation Project Management Office In the past, coordination of development projects in Africa has either been carried out by government agencies or donors, leading to controversy over the debate on the issue of linkage or the untying of aid and massive corruption which has, most of the time, left these development projects or programs poorly implemented, or even abandoned. To anticipate this experience in implementing computer programs in the South...... middle of paper ...... their children to school, buy mosquito-impregnated bed nets, transport their goods across the borders by using numerous development corridors. In addition, small and medium-sized businesses can benefit from both the business loans that the NBF coordinates with the Industrial Development Corporation of South Africa (IDC), as well as possible economies of scale when larger industries under- process. Additionally, with enough energy produced through the Westcor project to power emerging industries and improve access to ICT through the Uhurunet and Umojanet projects, many more businesses and opportunities could be created and more people will be employed to earn their living. When all this and the recently launched SADC Free Trade Area are put into perspective, no government will have reason to aspire to development aid as the population would have since escaped the poverty trap..