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African Legal Support Facility Director pays courtesy visit to AfDB President
The African Legal Support Facility (ALSF) Director, Stephen Karangizi, paid a courtesy visit to the President of the African Development Bank (AfDB) Group, Akinwumi Adesina, on December 8, 2015.
Hosted by AfDB, the ALSF is implementing 52 projects in 35 of the African Development Bank’s regional member countries. The projects are in the areas of negotiations of agreements in the extractives sector; infrastructure development (the energy sector); investment agreements; related commercial and business transactions; as well as debt management and litigation.
The ALSF Director congratulated President Adesina on his election as the 8th President of the AfDB Group and briefed him about the Facility’s achievements and performance during the financial year 2015.
Karangizi reiterated the ALSF’s commitment to explore and strengthen areas of collaboration that would advance the AfDB’s New Deal for Energy in Africa. The energy initiative seeks to fast-track universal access to power by 2025.
He emphasised that a multipronged approach was required to address the asymmetric negotiating capacity of African governments. He outlined activities being implemented to equip African governments with the tools and expertise to conclude transactions that are mutually beneficial to host governments and investors.
President Adesina welcomed ALSF’s efforts, which are expected to alleviate challenges faced by African governments when negotiating complex transactions. The President also noted that the ALSF plays a catalytic role that would contribute to promoting transparency and accountability in Africa.