UNDP and Switzerland to boost sustainable private sector development in Africa

Oct 1, 2015

Addis Ababa, Ethiopia, 30 September 2015 – The United Nations Development Programme (UNDP) and the Swiss Agency for Development and Cooperation (SDC) have today signed a new agreement to bolster inclusive growth in Africa through private sector, inclusive business, and market development.

The 3.7 million Swiss Francs contribution will support a three-year initiative “Accelerating Inclusive Growth and Sustainable Development in Africa” that seeks to create employment and livelihoods, particularly for women and young people, and support regional institutions and national governments in developing inclusive markets and businesses. The initiative builds on the work of UNDP’s African Facility for Inclusive Markets.

“Private sector development is a powerful vehicle for creating jobs and income opportunities in Africa,” notes Mr Lebogang Motlana, the Director for UNDP’s Regional Service Centre for Africa. “To sustain its recent positive economic growth trend and foster inclusive growth, Africa must focus on reducing poverty, inequalities and vulnerabilities, while creating jobs to match its growing youth population. UNDP, together with the SDC, is proud to support Africa to seize this momentum to meet its full potential.”

It aims to do so by setting up an African Inclusive Markets Excellence Centre together with the African Union Commission, enhancing small-holder farmers’ access to agri-business value chains, fostering an enabling environment for growing inclusive businesses and impact investments, and creating an interactive, online portal for African youth entrepreneurs to expand their social enterprises and businesses.

Switzerland’s support to this engagement builds on its work in Africa and long-term partnership with UNDP. In July 2015, the Swiss Federal Council committed to providing 180 million Swiss Francs to UNDP’s core resources, during 2015-2017. This contribution will permit further work in areas that Switzerland and UNDP believe to be important for sustainable development, including improving democratic governance, supporting conflict prevention and recovery, mitigating and adapting to the impact of climate change, reducing the risk from disasters, and empowering young people.

 

Contact information

Mr Tomas Sales, Special Advisor, African Facility for Inclusive Markets / Private Sector unit, UNDP Africa, Tel: +251 935986236, Email: tomas.sales@undp.org

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