Aig-Imoukhuede Foundation partners Afreximbank, BADEA, others, launch Pan-African Initiative to transform African Public Governance

By: Goodluck E. Adubazi – Abuja.

The Aig-Imoukhuede Foundation, together with four leading strategic partners—the Africa CEO Forum, Mohammed VI Polytechnic University (UM6P), the Arab Bank for Economic Development in Africa (BADEA), and African Export-Import Bank (Afreximbank)—has announced the launch of LEAD, a groundbreaking Pan-African initiative aimed at making excellence in public policy the engine for sustainable economic transformation across the African continent.

According to the press statement, the initiative responds to an obvious fact: despite nearly two decades of almost uninterrupted growth, Africa continues to suffer from a deficit in public services, which significantly inhibits its economic development and the quality of life of its 1.4 billion inhabitants.

Considering that many other economies in the Global South, with comparable GDPs, have undergone impactful transformations during the same period—demonstrating that well-designed regulatory, fiscal, and logistical choices can bring about major change—this initiative aims to bridge the gap by putting sound economic governance back at the core of Africa’s development agenda.

The initiative’s primary objective is to promote excellence in African public policy among approximately 50 high-potential young civil servants from across the continent each year, drawing inspiration from concrete examples of global success. These include Brazil, which has created a universal healthcare system while digitizing its public services; Indonesia, which has become a global leader in nickel through a local transformation strategy; and India, which has revolutionized financial inclusion with its Aadhaar digital identity program.

Furthermore, the initiative aims to build a Pan-African network of young public decision-makers who share a common vision of public service excellence and the ambition to implement large-scale projects such as the African Continental Free Trade Area (AfCFTA). These leaders will also be willing to collaborate in addressing upcoming demographic, climate, and industrial challenges, making public leadership the main economic infrastructure of the continent.

Aigboje Aig-Imoukhuede, Founder of the Aig-Imoukhuede Foundation, stated: “The human capital of Africa’s public sector is one of the continent’s most underutilized resources. Training, equipping, and empowering public sector leaders is a vital mission. Through this initiative, we are joining forces to build a high-performing, citizen-focused public service, driven by results.”

The Aig-Imoukhuede Foundation

Founded in 2020, the Aig-Imoukhuede Foundation is a Pan-African philanthropic organization dedicated to transforming Africa’s public sector. It envisions a continent where every citizen can pursue their aspirations, contribute to their community’s development, and live a healthy, productive life. Through targeted investments in the training of senior public officials, public policy improvement, and innovation in service delivery, the Foundation partners with African governments and institutions to build more effective, transparent, and impact-driven public administrations.

The Africa CEO Forum

Founded in 2012, the Africa CEO Forum is the leading platform dedicated to the leaders of the largest African and multinational companies, investors, heads of state, ministers, and representatives of key financial institutions operating on the continent. It is a high-level meeting place for experience sharing and business trend analysis. Its annual summit offers concrete and innovative solutions to advance Africa and its businesses. The Africa CEO Forum was created by the Jeune Afrique Media Group, and its annual summit is co-organized with the IFC, a member of the World Bank Group.

UM6P

Mohammed VI Polytechnic University is a multidisciplinary institution focused on applied research and innovation, with a Pan-African vision and the ambition to join the ranks of globally recognized universities. Committed to economic and human development, UM6P puts research, pedagogical innovation, and entrepreneurship at the service of Africa’s and Morocco’s transformation, particularly in industrial development, digitalization, R\&D, and technology transfer. Its unique partnership-based model reinforces Morocco’s leadership in these fields and strengthens relevant skills training for Africa’s future.

BADEA

Based in Riyadh, Saudi Arabia, the Arab Bank for Economic Development in Africa (BADEA) is a multilateral development finance institution owned by 18 Arab countries (62% of which are GCC member states). Founded in 1974, BADEA’s mission is to promote, support, and strengthen economic, financial, and technical cooperation between Arab and African countries. Social impact lies at the heart of BADEA’s priorities and its “BADEA 2030” strategy. The Bank acts primarily as a catalyst, offering a range of impact-oriented financial instruments, including sovereign loans (mainly for infrastructure), trade and private sector development, agricultural value chains, entrepreneurship, and SME growth. It also provides non-repayable capacity-building grants to support key development projects in Sub-Saharan Africa.

Afreximbank

The African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra- and extra-African trade. For over 30 years, the Bank has deployed innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion across the continent. A strong supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank launched the Pan-African Payment and Settlement System (PAPSS), adopted by the African Union (AU) as the payment and settlement platform for AfCFTA implementation. The Bank has also established a US\$10 billion Adjustment Fund to support countries participating in the AfCFTA. As of December 2024, Afreximbank’s total assets and contingencies exceeded US\$40.1 billion, with shareholder funds amounting to US\$7.2 billion. Afreximbank has investment-grade ratings from GCR (A), Moody’s (Baa1), China Chengxin International Credit Rating Co., Ltd (AAA), Japan Credit Rating Agency (A-), and Fitch (BBB-). The Bank has evolved into a group entity comprising the Bank, its equity impact fund (FEDA), and its insurance subsidiary (AfrexInsure), and is headquartered in Cairo, Egypt.