Implementing the New Parnership for Africa's Development (NEPAD): a study of the Economic and Corporate Governance Initiative (ECGI)

Abstract

In this mini-thesis, I explore the New Partnership for Africa's Development's (NEPAD) Economic and Corporate Governance Initiative (ECGI).I argue that although this initiative is not the only means to, nor the end of determining whether the NEPAD is being implemented, the ECGI can be used as a good indicator of whether one important dimension of the NEPAD is implemented.I establish whether, through an analysis of the ECGI, that dimension of the NEPAD is being implemented by looking at the countries where the ECGI was implemented.I maintain the position that through the NEPAD, good governance in African countries is promoted and that is why the authors of the NEPAD document created the ECGI.I made use of qualitative research to determine the answer to the research problem which vi is to what extent is the ECGI being implemented.Data was gathered from the NEPAD documents and the African Union (AU) documents which was analysed in a descriptive, evaluative, interpretative and analytical manner.The mini-thesis outlines the NEPAD with all its initiatives, and explains how the ECGI forms part of it.The main argument highlighted is that many heads of African states have agreed that the NEPAD is a good vehicle to promote good governance, especially of the economy and the main actors in the economy (corporations).Good governance is the underlying principle which the partnership is based on, and it is in line with AU priorities.The ECGI was discussed in its institutional framework which consists of the NEPAD, the AU and the African Peer Review Mechanism (APRM).Ghana, Kenya, Rwanda and South Africa are the only countries that have volunteered at this point to be peer reviewed.These countries were used as examples for other member states to come on board in the implementation of the NEPAD.The APRM can be used as a monitoring tool to determine whether the ECGI was implemented in the countries mentioned which were peer reviewed.Apart from this, the Development Bank of Southern Africa (DBSA) and Nedbank are used to gauge the ECGI implementation and reference.The ECGI is but one of several initiatives of the NEPAD and implementation of the ECGI does not necessarily mean its success or that it cannot be improved.However if the ECGI is implemented, one can deduce that the economic dimension, an important dimension of the NEPAD, is being implemented.

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