A new initiative by the African Development Bank (AfDB) aims to strengthen the financial skills of African cities. In collaboration with the United Cities and Local Governments, this program will enable cities to better tap into financial markets to finance their local infrastructure and development projects.

The Municipal Finance Managers' Initiative was presented at the ninth Africities Summit, held May 17-21 in Kisumu, Kenya. The program will begin in September 2022 with ten municipalities. The financial officers who participate will gain skills in finance, accounting, and debt and risk management to improve the creditworthiness of their cities. Participants will also have the opportunity to visit African stock exchanges, including the Johannesburg Stock Exchange and the Abidjan Stock Exchange.