Africa – Access to Capital Markets for African Cities and Subnational Governments: Capacity-Building Program to Foster Economic and Financial Development of African Cities

[Deeq A.]

PRESS RELEASE
Access to Capital Markets for African Cities and Subnational Governments: Capacity-Building Program to Foster Economic and Financial Development of African Cities
The upcoming training in Johannesburg will specifically focus on the practical experiences of South African municipalities in accessing the capital market
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JOHANNESBURG, South Africa, May 27, 2023/ — United Cities and Local Government of Africa (UCLG Africa) (https://www.UCLGA.org/), in partnership with the African Development Bank (AfDB), is organizing the second phase of its capacity-building program for Chief Financial Officers of African cities. This training will be held in Johannesburg from May 29th to June 2nd, 2023, as part of the implementation of the Africa Territorial Trade and Investment Agency (ATIA). ATIA serves as a financial vehicle aimed at enhancing the investment capacity of African cities and subnational governments through bond issuance in the financial market.

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The objective of this program is to prepare African cities and territories, who are members of ATIA, for accessing finance. The first training was conducted in Abidjan, Côte d’Ivoire, from September 19th to 24th, 2022, with financial support from GiZ and the Sahel and West Africa Club of the OECD. During the training, participants received guidance from experts representing various organizations including the Regional Council for Public Savings and Financial Markets (CREPMF), Bourse Régionale des Valeurs Mobilières d’Abidjan (BRVM), Bloomfield Investment Rating Agency, HUDSON Intermediation and Management Company, the West African Development Bank (BOAD), the African Development Bank (AfDB), and United Cities and Local Governments of Africa.

The upcoming training in Johannesburg will specifically focus on the practical experiences of South African municipalities in accessing the capital market. It will receive support from C40, an organization dedicated to combating climate change and representing 94 of the world’s largest cities, as well as the Development Bank of Southern Africa (DBSA), the European Investment Bank (EIB), the Urban Municipal Development Fund (UMDF), and the South African National Treasury.

This capacity-building program for Chief Financial Officers of African cities and territories aims to equip participants with the necessary knowledge, skills, and tools to successfully access the financial market, enhance their investment capacity, and support the economic development of African cities and subnational governments. Furthermore, it highlights the commitment of UCLG Africa, the African Development Bank, and all partners to supporting financial initiatives, empowering African cities and territories, and fostering their economic growth.

The media and press organizations are cordially invited to cover the press briefing that will be organized after the opening of the training at the Hilton Sandton Hotel in Sandown, Johannesburg, South Africa.

The Communication Department of UCLG Africa is also willing to organize and facilitate appointments with experts and participants of the training, provided that interested media and press organizations submit their request to the department before the event.

SOURCE
United Cities and Local Governments of Africa (UCLG Africa)

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