Kaberuka named Africa’s infrastructure personality

The President of African Development Bank, Dr Donald Kaberuka, has been named the continent’s infrastructure personality of the year in recognition of his support and contribution towards infrastructure development.The award was presented mid this week during the Africa investor (Ai) Infrastructure Investment Summit and awards ceremony Cape Town, South Africa.The award celebrates the Rwandan former finance minister’s efforts in driving innovative infrastructure investment programmes across the continent and recognises the bank’s instrumental role in driving Africa’s infrastructure agenda.AfDB Regional Director for Southern Africa, Ebrima Faal, accepted the award on behalf of Kaberuka during the session on “Banking Unsolicited Bids in Africa.Cape Town has this week played host to the Africa chapter of the World Economic Forum.Kaberuka, is credited for spearheading has spearheaded different infrastructure projects in across the continent.At the East African level, the bank has financed various major projects.Last month, AfDB approved two loans totalling $232.5 million for the 157.5-km road project from Arusha to Holili in Tanzania, and Taveta to Voi in Kenya.The projects seek to improve regional transport infrastructure to support economic and social development programmes in the region, promote tourism and foster regional integration and, at the same time, reduce the cost of doing business by supporting cross-border and international tradeWhile participating in The Times CEO Summit Africa 2013 high-level panel on infrastructure in London on April 30, Kaberuka said that one of the major problems the sector was facing is bringing infrastructure projects to bankability.He made the distinction between projects which only governments can fund; projects which are specific to the needs of a particular industry, such as those to transport goods from mine to port; projects which are specifically suited to Public-Private Partnerships (PPPs); and others which are highly attractive to the private sector.He further said it is important to ensure that capital is allocated in an efficient manner and to the right projects and that the resources are spent effectively.Kaberuka also stressed that in addition to investing in new infrastructure projects, enough resources should be allocated towards infrastructure maintenance, an area which doesn’t get as much publicity.The Africa investor (Ai) Infrastructure Investment Summit is the premier business development forum for infrastructure investors, fund managers, project development, project sponsors and Public Private Partnership (PPP) policy-makers. ----------------------------------------- About Dr Kaberuka Dr Kaberuka is currently serving his second five-year term as President of the African Development Bank Group (AfDB). He was first elected in 2005, becoming the seventh president of the Bank Group since its establishment in 1963. He was re-elected in May 2010. Before joining the African Development Bank, Mr. Kaberuka, 60, had a distinguished career in banking, international trade and development and government service. He was Rwanda’s Minister of Finance and Economic Planning between 1997 and 2005. During this period, he oversaw Rwanda’s successful economic reconstruction after the end of Genocide against the Tutsi. He initiated and implemented major economic reforms and introduced new systems of structural, monetary and fiscal governance, laying special emphasis on the independence of Rwanda’s central bank. These reforms led to the widely-recognised revival of Rwanda’s economy, and to the sustained economic growth that enabled Rwanda to obtain debt cancellation under the Heavily Indebted Poor Countries initiative in April 2005.Source: www.afdb.org

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Kaberuka named Africa’s infrastructure personality