Good Governance is key to financing development projects

Last week, Civil society Organisations across Africa gathered in Entebbe to collectively make a statement to the African and World leaders on the key issues concerning financing for development. It is an opportunity that Africa hosts the 3rd International conference on Financing for Development and as such, Africa must make a signature statement on issues concerning financing for development.

Much as development is much desired, it cannot be fully attained without financing therefore the need to discuss modalities of financing the desired development. One of the very salient emerging key issue during the Pan African CSO conference was the call for good governance and accountability by all governments and their respective institutions; once resources are not governed according to established rubric, meaningful development will be in vain.

Respecting guiding principles, allowing inclusive participation of citizens and stakeholders in decision making processes, balancing both the private and public financing, Debt and debt financing all require good governance and proper accountability.
Much as African states claim they no longer need assistance and yet continue to receive Official Development Assistance (ODA) which unfortunately has been stolen with impunity and thus affected development because the institutions suffer from governance challenges and the leaders too are very reluctant and unless the governance deficiencies are addressed, ODA will be rendered useless.

Africa has potential to finance its development through domestic resource mobilization other than depending on Aid and accumulating debt if the governance and accountability challenges are addressed and as long as we dont address these issues, Africa will continue to grabble with development issues!

Michael Aboneka

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  1. UnknownJanuary 17, 2016 at 9:36 PM




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