Two roadmaps guide the future development plans in the Horn of Africa

At the 17^th Ministerial Roundtable of the Horn of Africa Initiative (HoAI), held in Sharm-el-Sheikh on 24 May 2023 on the margins of the African Development Bank’s 2023 Annual Meetings, the HoAI Finance Ministers highlighted the importance to leverage private sector investments for unlocking the economic growth of the Horn of Africa. At the same time, they called for the adoption of a common vision and strategy for accelerating development in the borderlands, being these geographical areas critical for the peace and prosperity of the region.

The roadmap on Private Sector Engagement (PSE) was developed in the period rom June to September 2023 through a series of discussions with a wide range of stakeholders from both the public and private sectors in Djibouti, Ethiopia, Kenya, Somalia and South Sudan. Its preparation was proposed for the first time by the Cabinet Secretary of the National Treasury and Economic Planning of Kenya at the 15^th Ministerial Roundtable of the Horn of Africa Initiative held on 8 March 2023 in Nairobi, who raised the need to create a regional platform for regularly engaging business communities for dialogue with national Governments in the Horn of Africa in relation to the development of common policies in the area of investments and trade integration.

The conclusions of the PSE roadmap were discussed with the main private sector organizations in the region on 19th September 2023 in Addis Ababa, who validated the document by providing additional inputs for its finalization. The final version was subsequently presented to HoAI Ministers and the Development Partners supporting the Initiative for endorsement at the 18th Ministerial Meeting held in Addis Ababa on October 3, 2023 together with the Roadmap for accelerating development in the borderlands.

Both roadmaps set out a series of strategic objectives to guide the Horn of Africa's development plans over the next five years, with a range of activities on which the technical and financial assistance from Development Partners will converge. The PSE Roadmap is available here.