Stanley Subramoney, Chairman of the NBF delivered the opening remarks at the NEPAD Continental Business Network (CBN) launch at the Table Bay Hotel in Cape Town on Monday, 1 June 2015.
CBN is the mandated follow-up and implementation to recommendations emanating from the 2014 Dakar Financing Summit (DFS), during which the NEPAD Heads of State and Government Orientation Committee (HSGOC), chaired by H.E. President Macky Sall.
The CBN will constitute a CEO-level private sector infrastructure leaders dialogue platform for the AU Heads of State on the Programme for Infrastructure Development in Africa projects (PIDA) and the Presidential Infrastructure Champions Initiative (PICI); to engage and advance private sector priorities and requirements to invest in regional and cross -border projects. In addition, the CBN will act as an exclusive Infrastructure Investment Advisory platform for high lever African policy makers, providing thought leadership and engagement on a range of strategic issues such as project packaging, procurement, policy, investment risk rating(s), structuring and the overall promotion of projects to the private sector.
In his remarks, Stanley Subramoney urged the AU, NEPAD Agency and NEPAD HSGOC to take advantage of the existing networks, platforms and initiatives that have been developed to reduce the gap between the public and private sector. He recommended that the CBN draw from what the NBF and similar organisations have done and absorb lessons from our combined experiences.
The NBF believes that CBN’s role as an exclusive Infrastructure Investment Advisory platform for high-level African policy makers will give the initiative a unique position to inform African policy decisions. If successful, the CBN will become a game changer to Africa’s infrastructure development, this is because it will enhance efforts by organisations that have been involved in fostering a close relationship between the public and private sector across the continent