 |
 |
 |
 |
 |
 |
The ICF will work in eight priority areas:
In addition, it will support the recommendations that arise from the Africa Peer Review Mechanism process in relation to the investment climate. Activities funded under the ICF are likely to include: research and analysis; legislative review and reform; capacity building of institutions such as land registries, company registries and commercial courts; pilot projects (such as streamlined business registration systems); and facilitation of better public private dialogue.
The ICF will focus initially on the countries that have acceded to NEPAD's Africa Peer Review Mechanism process, since the leadership in these countries has demonstrated willingness towards improving governance. The ICF recognises that regions and sub-regions in Africa may have barriers in common and thus both country and regionally specific approaches will be adopted to facilitate inter-regional trade and investment. It will be important to maintain a balance of reform support between Anglophone and Francophone Africa. 3. How will the ICF determine which projects it will fund? The ICF will fund projects that offer the highest rate of return in terms of improving the investment climate, particularly those that have the greatest impact on the environment for small business and poverty reduction (primarily through job creation). The majority of ICF interventions will be generated using a Task Force model, where the ICF acts as a proactive change agent that solves problems by creating best-fit coalitions of actors and actions to achieve its objectives. Typically such coalitions or Task Forces would be issue/country/region specific, and have a dedicated team directed by the ICF, with concrete change as their goal. In particular circumstances, the ICF may use a Third Party model, where the ICF acts as a reactive, grant making body and works through third parties when it receives particularly good proposals. 4. How will the ICF measure impact? The ICF business model clearly states that the ICF will measure its success solely on its contribution to economic activity in the different countries of engagement, including increased economic growth, growth in employment, productivity growth and increase in investments. The ICF tracks its progress against a core set of indicators that focus specifically on these impacts. These core indicators have been selected on the basis of their measurability, their potential to drive policy, their predictive capacity, and their amenability to comparison across countries and regions to allow for benchmarking. The ICF will measure its progress against the following:
5. How does the ICF differ from other donor initiatives? The ICF is a new and unique private-public sector funded independent trust, in support of and supported by NEPAD and endorsed by African Heads of State. It is the only pan-African body, based in Africa, explicitly focused on improving the continent's investment climate. It is in line with Africa's own vision for the future, will be run in accordance with private sector principles, and will be quick disbursing, dynamic and responsive. 6. How does the ICF link with the Millennium Development Goals and the APRM process? If Africa is to achieve the 7% growth necessary to meet the key MDG of halving the proportion of people in absolute poverty by 2015, the business environment must improve significantly. The ICF is singularly focused on this issue. The ICF is closely linked to the APRM process and is seen as a key vehicle to assist African Governments to address economic and corporate governance shortfalls highlighted in their Peer Review reports.
The Regional Economic Communities (RECS) are very important partners for the ICF, particularly as the ICF has the ability to work on a regional basis, as well as in specific countries. The ICF will work closely with, and support, the regional economic communities to progress their activities to improve the business environment in their respective regions. 8. What is the ICF's governance structure? The ICF is governed by a Board of Trustees with strong African representation. The Board provides oversight, direction and accountability. The Investment Sub-Committee of the Board is responsible for funding decisions. An Executive Secretariat appointed by the Board is responsible for managing the ICF on a day-to-day basis and delivering its results. The ICF's structure incorporates best practice in terms of corporate governance. Members of the Board of Trustees act in their individual capacity. The Trustees are comprised of both African nationals and people with a demonstrated record of engagement in Africa. The composition of the Board reflects the diversity of Africa and accommodates a range of appropriate skills and experience. The Trustees were appointed by the ICF's corporate and donor investors. 9. What role does the Board of Trustees play? The Board of Trustees ensures that the ICF is responsible to its investors and to African and other high-level stakeholders. It decides and reviews the overall strategic direction and policy for the ICF and monitors overall performance of the ICF, including its management. The Board is accountable to the ICF's donor and company funders regarding use of funds, and follows effective procedures and controls for the management of risk based on good practice. The Board reports, bi-annually, on the ICF's performance to stakeholders within the AU and NEPAD structures. 10. How will the ICF prevent conflict of interest regarding private sector investors? No projects that are to the benefit of one particular company or small group of companies may be funded by the ICF. All projects will be for the benefit of the business community as a whole, broad sectors of business (e.g. the ICT sector) or parts of the business community (e.g. small business). 11. Why does the ICF have a limited life-span? The ICF is a facility to catalyse change and, as such, it will support and enable the appropriate institutions across Africa to improve the business environment. It is expected that it will have made a substantial impact and delivered self-sustaining processes after seven years. 12. How will the ICF ensure that the initiatives it funds will have sustainable benefits? The long-term sustainable benefits of the ICF will be achieved through its efforts to strengthen and build the capacity of African governments, independent regulators, business associations and other institutions - all of whom will be the ICF's partners. - Images provided by www.bigfoto.com |
1. What type of activities will the ICF fund?
2. How will the ICF allocate its projects and spending between African regions and countries?
7. What relationship will the ICF have with regional economic communities in Africa?
Contact Us :: Home | About Us | Supporters | FAQ | Media | Opportunites :: All Rights Reserved Investment Climate Facility 2007 | Designed and Powered By JD Internet Consulting |