Cote d’Ivoire: Representatives of African Cities and local authorities learn about the functioning of financial markets

Photo: From 19 to 24 September 2022, Abidjan is hosting a training session for finance directors from some 40 African cities and local authorities on access to capital markets.

26 September 2022

François Paul Yatta, programme director at United Cities and Local Governments of Africa, said,

“Some African municipalities are almost ready to enter the private financing markets, which would allow them to multiply their sources of financing. Unfortunately, they do not yet have a thorough understanding of how these markets work, which prevents them from accessing them.”

“This kind of programme will have medium- and long-term benefits for the beneficiary cities, making them credible business partners in the eyes of lenders,” said Alice Nabalamba, an expert in the Infrastructure and Urban Development Department at the African Development Bank.

The investment needs of African cities are increasing as urbanisation accelerates across the continent. However, access to financial resources remains difficult. Most municipalities have trouble  inspiring confidence in private partners, who demand more efficient and transparent management of public accounts.

The training programme also includes a refresher accounting management course that is expected to help municipalities adopt management practices in line with international standards. This is expected to bolster their credibility and credit ratings, enabling them to borrow more cheaply from capital markets.

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