On Thursday, 31 May 2018, Directors of The New Partnership for Africa’s Development (NEPAD) paid a visit to the British Deputy High Commissioner, Laure Beaufils, on improving investment inflows.
NEPAD is an economic development program of the African Union. NEPAD was adopted at the 37th session of the Assembly of Heads of State and Government in July 2001 in Lusaka, Zambia.
According to nepad.gov.ng, the New Partnership for Africa’s Development (NEPAD) framework evolved from a mandate given to the five initiating Heads of State (Algeria, Egypt, Nigeria, Senegal and South Africa) by the Organization of African Unity (OAU) now African Union (AU) to develop an integrated socio-economic development framework for Africa. The 37th Summit of the OAU in July 2001 formally adopted the strategic framework document.
Resolution 57/7 of the United Nations Assembly in 2002 adopted the New Partnership for Africa’s Development (NEPAD) as a framework for supporting development in Africa, and advised that all African countries establish a National NEPAD Office. In the same year, the National Assembly of Nigeria ratified and adopted the African Union Consultative Act of which NEPAD programme and initiative are part thereof.
It is a strategic framework for Africa’s renewal and sustainable development. It is a framework of Action Plan between Africa and the rest of the world. It is a comprehensive integrated development plan that addresses key social, economic, environmental and political priorities. It is a unique opportunity to improve governance in Africa and lure investment to the continent.
The primary goals of NEPAD are:
- To eradicate poverty;
- To place African countries on the path of sustainable economic growth and development;
- To accelerate the empowerment of women, and
- To halt the marginalization of Africa in the globalization process while enhancing its full and beneficial integration into the global economy.