16 October 2014: The UN Economic Commission for Africa’s (ECA) Ninth African Development Forum (ADF IX) agreed the Marrakech Consensus, which outlines recommendations on fiscal policies and regulatory frameworks to address poverty and attract and deploy capital. The Forum, which convened under the theme ‘Innovative Financing for Africa’s Transformation,’ focused on: domestic resource mobilization, including for Africa’s structural transformation; illicit financial flows (IFFs), private equity, partnerships and climate financing for Africa’s adaptation and mitigation needs.

The Marrakech Consensus includes statements and recommendations on each of the Forum’s focus areas. Participants also called for greater collaboration between the public and the private sector, and greater regional integration. To improve the generation and sustainability of domestic resources, the Consensus recommends that Africa countries, inter alia: commit to using fiscal policies to address poverty and provide the infrastructure for sustainable economic growth; exploit their extractive industries in a manner that ensures current and future resource earnings; adopt reforms to remove barriers to savings and improve national willingness and capacity to save; establish strong, efficient regulatory and enforcement frameworks to encourage growth and utilization of contractual savings, such as insurance and pensions; and explore ways to lower remittance costs.

On climate finance, the Consensus recommends, inter alia: fostering enabling policy environments to enhance investments and resource mobilization in climate change interventions; supporting human and institutional capacity building initiatives to facilitate better access to and absorption of climate finance; influencing negotiation processes to ensure funding for Africa’s adaptation and mitigation programmes; and reducing barriers and funding asymmetries to ensure adequate resources to climate proof critical sectors and manage climate impacts.

On IFFs, the Consensus recommends, inter alia: strengthening institutional capacities to address private sector practices that facilitate tax evasion; strengthening commitment to measures against corruption; developing national and regional standards to attract FDI in extractive industries; promoting cooperation between source and destination countries of IFFs to discourage and curb IFFs and facilitate recovery and repatriation of assets; and promoting peer learning and research on IFF impacts.

Cabo Verde’s Minister of Finance, Cristina Duarte, called for governments to take greater responsibility in addressing IFFs, describing the issue as “one of political will and institutions.” She also announced she is a candidate for the Presidency of the African Development Bank (ADB).

At a pre-conference event, UNECA presented its African Social Development Index (ASDI). The tool aims to help African nations assess progress in reducing exclusion on six dimensions of well-being, including education, employment, health and income. The ASDI can be used at regional, national and sub-national levels to asses the impact of social policies on human exclusion among different groups, countries and locations. Cameron, Kenya, Morocco, Senegal and Zambia are pilot testing the ASDI, which is expected to be launched throughout Africa through a series of trainings and data collection process.

Over 900 participants from 56 countries attended the conference, including the Presidents of Cote d’Ivoire and Senegal, and the Prime Ministers of Morocco and Cabo Verde. The conference took place in Marrakech, Morocco, from 12-16 October 2014. [Marrakech Consensus] [UNECA Press Release on Marrakech Consensus] [UNECA Press Release on ASDI] [Forum Webpage] [UNECA Press Release on IFFs] [UNECA Press Release on Duarte Statement]