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Tag: Africa

  • Push for poultry growth in Africa

    Push for poultry growth in Africa

    The poultry industry plays a pivotal role in meeting the rising demand for protein-rich food in Africa. As the continent’s population continues to grow, the need for sustainable poultry farming practices becomes increasingly vital. There have been tremendous efforts to boost production as well as equip farmers with the essential knowledge and skills necessary to thrive in the industry, writes Daniel Essiet

    The global poultry population, according to Mississippi State University Extension Service, is approximately 16.2 billion, of which 71.6 per cent is found in developing countries. In sub-Saharan Africa, the  poultry sector has demonstrated the potential to promote economic growth. However, smallholder poultry farmers encounter several challenges, including rising costs of farm inputs, resulting from competition for key raw materials, inability to control poultry diseases because of increasing vaccine costs and lack of vaccine and disease knowledge and management.limited information regarding both input and output markets. According to the Food and Agriculture Organisation(FAO).

    Despite these advantages, FAO  and other organisations have  provide support to increase production and bridge the gap between the increasing demand and low supply of poultry products, weak management practices and traditional production practices continue to be used. Subsequently, the FAO launched the Africa Sustainable Livestock (ASL) 2050 report to develop opportunities in the livestock sector across the Continent.The ASL initiative, which is funded by the United States Agency for International Development (USAID), looks in detail at 6 African countries – Burkina Faso, Egypt, Ethiopia, Kenya, Nigeria and Uganda. It looks at what actions can be taken to ensure a sustainable development of the sector in the face of the projected rise in population, urbanisation and other factors. Africa’s population is set to rise from 1.2billion  to over 2.5billion in 2050.

    The FAO report said  future growth and transformation of the African livestock sector will be unprecedented, contributing to meet consumer demands for animal products, improved food security and nutrition.  In Egypt, the UN organisation sees the  larger, increasingly affluent and urbanised population consuming  more high-quality foods, and in particular meat, milk and eggs.  According to it, the consumption of poultry and eggs will increase by over 1100% and 480% respectively. Current consumption of poultry,FAO noted  is just 903,000 tonnes but this is set to rise to 3.19million tonnes in 2050. Egg consumption is set to rise from 283,000 tonnes to 786m in 2030 and 1.6m in 2050

    At present,the organisation said  commercial farms and large holdings make up less than 10% of the poultry production sector but this is set to grow. In line with FAO aspirations, the  Egyptian government is supporting livestock intensification as a way to meet growing demand for livestock products.

    FAO said the Egypt’s population will to grow by 65 per cent in the next three  decades and national projections foresee a 642 percent  increase in gross domestic producr(GDP),while h GDP per capita is  expected to rise from USD 4,000 to USD 20,000.

    For Ethiopia, FAO projected that the ys demand for poultry meat and eggs is expected to rise tremendously  and that the growing demand for livestock products will provide incentives for farmers to expand their asset and increase productivity through intensification.

    The  Ethiopian Ministry of Livestock and Fisheries has been implementing a Livestock Master Plan, which targets raising meat and egg production from chickens to 164,000 tonnes and 3.9billion  eggs.

    Another set to increase production is Kenya which its report noted will face an unprecedented growth in demand for food in the next 30-40 years. The growing, increasingly affluent and urbanised Kenyan population,it maintained, will consume more high value food, such as meat, milk and eggs.

    While there are considerable potential job creation opportunities in both the rural and urban sectors, the report indicated that the challenges of disease control, biosecurity and water are expected to remain.

    But for the Nigerian poultry industry ,the FAO noted that about 80 million birds are raised in extensive systems, 60 in semi-intensive and the remaining 40 million in intensive systems.

    According to him, income from livestock presents a significant share of total household income across all production systems, contributing between 23-51 per cent of total household income in extensive, semi-intensive and intensive systems. Also,off-farm labour is also an important source of income and can also include processing or marketing of meat or eggs. However, levels and structure of gross revenues from poultry have been very different across production systems with intensive egg production faring well. Despite this, , there is concern about welfare issues, particularly the low level of productive and use of animal health services.

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    The Director-General, Poultry Association of Nigeria, Dr Onallo Akpa, painted the economic picture of the eggs in Nigeria, which is enormous. He said an egg a day for 50% of the Nigerian population will produce a daily economic value of N1.7 billion.

    For him, Nigeria’s poultry industry, worth $4.2 billion according to FAO, a major protein source for over 200 million people, could be saved if something is done to address farmers complains about  high feed costs and traders lamentation about the cost of the constantly rising ingredients for the feeds.

    Group Managing Director, Amo Farm Sieberer Hatchery Limited, Dr. Ayoola Oduntan,,believes  poultry farming has become a dominating sphere with a global poultry market value of $352.02 billion last year  and estimated to reach $378.84 billion this year , at a compound annual growth rate (CAGR) of 7.6per cent . It is expected to be $429.11 billion by 2028, with an expanded rate in the last 30 years.

    His Amo Farm Sieberer Hatchery Limited based,  in Oyo State, has  been making a remarkable impact in the agricultural value chain. Oduntan was of the opinion, Nigerians can only take advantage of the e market expansion in chicken farming if the operators pursue  modernisation and automation, as well as the genetic creation of birds that allow for higher productivity.

    At  its multi-billion-naira production facilities across Akinyele, Awe, and Ogbomosho Farms, all in Oyo State, Amo Farm Sieberer Hatchery Limited, produces over one million-day-old chicks (comprising of Layer, Broiler, and their own innovation Noiler) a week from its different hatcheries across Nigeria and plans to increase it by 30 percent on a year-on-year basis, to meet the growing demand for animal protein in the country.

    Amo Farm has empowered over 1.3 million rural households with its innovative Noiler bird, with an emphasis on women, and has laid a solid foundation that could be multiplied to spread across the whole of the country, and even the rest of Africa.

    The company’s innovative chick production techniques have given it a competitive edge and proven to be a source that can be trusted. Its commitment to premium quality and the abundance of benefits derivable from Amo chicks have made its chicks the “Wise Farmer’s Choice.”

    Established in 2002, Amo Farm Sieberer Hatchery Limited has a vision of becoming the market leader in the Day-old Chicks market; through exceptional quality products and services that will guarantee profitable poultry farming. This is with a commitment to premium quality while the abundance of benefits derivable from Amo chicks has made its birds the “Wise Farmer’s Choice.”

    At Akinyele, the company has its automated abattoir where chickens are processed, packaged, and branded as ready-to-cook and ready-to-eat natnudO Foods, for sales in the country, while it has, at Awe, parent stock for broilers, and other products, various chicken sites, the hatchery sections with day-old chicks, the egg units, and the artificial insemination unit, one of the innovations of Amo Farm, for female chickens for improved productivity.

    There is also the Amo Byng which is the feed mill arm of the Amo Farm Sieberer Hatchery Limited (AFSH) for the company’s products and also for sales purposes. Also, is the engineering division of the company, Diversay Solutions Limited, where the company has demonstrated its inventiveness in locally fabricated machinery that could reduce the cost of importation of foreign machines and spare parts thereby reducing the cost of production in the poultry value chain.

    To further deepen farmers’ engagement, Amo Farm, through its natnuPreneur scheme, trains and offers technical support as well as access to farmers for quality inputs to raise birds that are off-taken by its natnudO brand. Through this process, over 6,000 poultry farmers have been trained across the country for market access for the brand.

    Given Amo Farm’s immense contribution to the agricultural development of Oyo State, and the country in general, Seyi Makinde, in a recent facility tour of the company, applauded its pragmatic approach to agricultural innovation which aligns with his administration’s move to ensure food security for the people. He said the company’s efforts are a boost to the State economy, and making food available to the people, with emphasis on nutritional protein.

    Makinde affirmed that the empowerment and job creation initiatives of Amo Farm for rural women through chicken poultry are unparalleled as it has helped in improving their living standards and that the government would like to partner with Amo Farm Sieberer Hatchery to further strengthen its drive to make animal protein available, not only in Oyo State but across the country.

    While marking this year’s World Food Day, celebrated annually last month, with the theme “Water is Life, Water is Food,” Dr. Oduntan, said Amo Farm is committed to growing agriculture in Nigeria by providing access to animal protein through its products and that more access to eggs in the rural communities through its Noiler bird will reduce the occurrence of child stunting, malnutrition, and healthiness.

    In line with the objective of the 2023 International Day for Poverty Eradication, also known as End Poverty Day, celebrated annually on October 17th with the theme “Decent Work and Social Protection: Putting Dignity in Practice for All,” Amo Farm has shown its strong commitment in providing rural women with access to decent work and social protection through its Noiler farming programme.

    It plays a vital role in achieving this goal, as it is a low-cost, high-return enterprise that can provide women with a sustainable income, access to protein, and improved livelihoods.

  • Africa and legacy of slavery, colonialism

    Africa and legacy of slavery, colonialism

    • By John Amabolou Elekun

    Sir: The history of Africa is a tale of exploitation, from the transatlantic slave trade that saw millions of Africans forcibly removed from their homelands to the Western capitals that continues to shape the continent’s destiny. The governments of America and Europe have played pivotal roles in both of these oppressive chapters in African history.

    The transatlantic slave trade, which lasted for several centuries, stands as one of the most horrifying episodes of cruelty in human history. European powers and American colonies ruthlessly exploited Africa’s human resources, forcing countless men, women, and children into brutal servitude. Africans were subjected to unimaginable suffering, as they endured forced labour, inhumane living conditions, and a loss of cultural identity.

    The legacy of slavery still lingers in Africa. It left deep scars in the form of fragmented societies, lost cultural heritage, and economic disparities. The wealth extracted from African labour and resources helped build the economic foundations of Europe and the Americas, while Africa was left economically impoverished.

    Neo-colonialism, a term coined by Ghana’s first President, Kwame Nkrumah, describes the continuation of foreign influence over former colonies’ economic, political, and cultural affairs, even after achieving nominal independence. American and European powers have maintained their grip on Africa through economic, political, and military means.

    Multinational corporations and financial institutions from America and Europe exert significant control over Africa’s economies. They dominate key industries, exploit natural resources, and shape trade policies in their favour. This perpetuates a cycle of economic dependency, leaving African nations with limited control over their development.

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    Foreign governments continue to play a role in African politics, often supporting leaders who align with their interests. This interference leads to political instability and a lack of true self-determination for African nations.

    The legacy of slavery and the ongoing struggle against neo-colonialism remain major challenges for Africa. However, there is hope for change. African leaders are increasingly recognizing the need for economic and political independence. Regional collaborations and efforts to reduce foreign dependency are growing, as nations work to reclaim their sovereignty.

    Acknowledging this history is essential, as it helps pave the way for a more equitable and self-determined future for the continent. Africa’s journey towards true independence continues, and the international community must support these efforts to break free from the chains of the past.

    •John Amabolou Elekun,

    Iju-Ajuwon, Lagos

  • Nightlife in Africa, Nigeria transcending global standard – Edoh

    Nightlife in Africa, Nigeria transcending global standard – Edoh

    Popular socialite and showbiz promoter-cum- businessman, Emmanuel Edoh, has said that nightlife in Nigeria and Africa has improved unimaginably and almost surpassing the global standard.

    Edoh, who is co-partner of VANITI Lagos and Magic City nightclub in Abuja, was addressing some journalists on the secret of his growth in the entertainment business, where he set a fresh agenda for young Nigerians who wish to go into a similar venture. 

    Acknowledging that nightlife in Nigeria and Africa at large has hit an enviable height, Edoh said Africa is consistently transcending the global standard in entertainment, especially with regards to nightlife.

    Agreeing that nightlife in Abuja has improved, Edoh, however, said it is yet to meet the highly competitive Lagos standard. 

    He said: “Nightlife activities in Nigeria has been good and it’s taking a different dimension lately. Unlike those days when people just go to clubs, drink and then go home, nightlife now has a lot more entertainment besides drinking. You won’t understand this unless you are a patron.The ambiance of clubs and the connection that comes with it speak volume. We are not even talking about the business aspect yet. 

    Reacting to the competitive status of Abuja as a fast-growing city in nightlife, Edoh said:

    “Abuja is competing but Lagos still has more competitors. Abuja has a good market but Lagos has a better market. Nightlife in Lagos is large and huge with regards to business. It is either the market embraces you or dumps you.”

    Speaking on the success of their new club, VANITI Lagos, Edoh said partnering with experienced and goal-getter in the person of Uyi Ogbebor also known as Sir Uyi, had inspired him. 

    He said, ” I’ll say been a partner in Lagos best nightclub VANITI is a great deal for me and my partners and thanks to my mentor in the business, Sir Uyi because he singlehandedly conceived the plans and with joint effort of the team, it’s becoming a great success.

    “This is because we’ve brought a large combination of experience, entertainment and vibes to the Lagos market and thanks to Lagosians for accepting us.”

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    Edoh whose birthday is Saturday reflected on his journey in the showbiz so far,  admitting that it was not an easy ride. 

    According to him: “The journey has never been easy, trust me. This is because the minutes you think you’re there, then boom, the next big thing starts coming to your mind. Trust me, the road to success is not always as easy as it looks. It could be mentally, emotionally, financially and physically tough. It will tell on you.”

    Urging young people not to give up on their dreams, he said, young people out there should just do their best. Quoting Maya Angelou, he said, “Just do the best you can until you know better, then you do better.’ Just strive to do better. That’s the only magic.”

  • African, Caribbean nations mull joint free trade zone

    African, Caribbean nations mull joint free trade zone

    • Bahamas Development Bank gets $30m Afreximbank loan

    Public and private sectors’ leaders in African and Caribbean nations have called for increased trade and investments among the nations, with a vision to create an African Caribbean free trade zone.

    This was part of the highlights of the two-day, 2nd AfriCaribbean Trade and Investment Forum (ACTIF23), held in Georgetown, Guyana. The theme of the conference was ‘Creating a Shared Prosperous Future’.

    Permanent Secretary of Guyana’s Foreign Ministry, Elizabeth Harper who read the group’s resolution, highlighted an ardent call to global bodies like the African Union, CARICOM, and the Organisation of Eastern Caribbean States to fortify African-Caribbean political relationships to propel economic alliances, bilateral trade, and the pivotal concept of establishing an African Caribbean free trade zone.

    The forum echoed a unanimous voice for fostering partnerships with stalwarts like the African Business Council, the CARICOM private sector, and the International Trade Centre. Their combined vision is the operationalization of the African Caribbean Business Council, designed as a nucleus for private sector amalgamation.

    Over the span of ACTIF23, the dedication to mutual growth was evident. African and Caribbean governments and their business counterparts inked several groundbreaking agreements. These spanned diverse sectors: from energy and tourism to logistics, construction, agriculture, sports and the burgeoning creative industries.

    Reflecting on the forum’s culmination, Guyana’s Finance Minister, Dr. Ashni Singh said hosting ACTIF23 has been monumental for Guyana as the event has been a catalyst in reinforcing the ties between the regions and shedding light on the myriad of challenges they collectively aim to overcome.

    President, African Export-Import Bank (Afreximbank), Prof. Benedict Oramah underlined the pressing need for genuine integration noting that collaborative endeavours signal a future where the nations can overcome regional challenges through reinforced south-south cooperation.

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    “The horizon seems promising, with a unified payment system bridging Africa and the Caribbean becoming an imminent reality,” Oramah said.

    Tracing back to its inception, ACTIF23 follows the foundational forum in Bridgetown, Barbados. That maiden edition witnessed a game-changing partnership between Afreximbank and CARICOM. This alliance was crafted to amplify trade and investment synergies, anchored by mutual support and financial facilitation.

    With its rich tapestry of delegates – approximately 1400 from 33 African nations, 13 Caribbean territories, and 18 countries beyond – ACTIF23, co-hosted by the Government of Guyana and Afreximbank, has stamped its significance in the annals of global trade dialogues.

    Meanwhile,  Afreximbank has entered into an agreement to provide a $30-million term loan facility to the Bahamas Development Bank (BDB) to bolster its trade finance operations and provide essential support to indigenous business organizations in The Bahamas.

    The facility to support the recapitalization of BDB was signed by Kanayo Awani, Executive Vice President, Intra-African Trade Bank, Afreximbank, and Nicholas Higgs, Managing Director of BDB. The signing took place on the sidelines of the final day of ACTIF2023. The loan facility will be in place for seven years.

    Awani said that the facility to BDB was aligned with the bank’s commitment to support the economic development of Africa and its Diaspora.

    “By recapitalizing the Bahamas Development Bank and focusing on trade finance and SME support, we’re not just investing in financial resources, but in the prosperity, resilience and growth of the nation of The Bahamas,” Awani said.

    She said the initiative underscores Afreximbank’s commitment to empowering businesses, stimulating trade and driving economic sustainability in The Bahamas.

    Awani emphasized the importance of BDB in facilitating trade finance activities, which are crucial for both domestic and international trade.

    She added that the facility would enhance trade and commerce, ultimately leading to economic prosperity in The Bahamas, and described the recapitalization as a pivotal step in ensuring that BDB remained a robust and effective financial institution.

    Higgs said the signing of the term sheet represented the realisation of a vision set forth by Prime Minister of The Bahamas, Philip Davis, with support from Bahamas Development Bank Chairman, Senator Quinton Lightbourne.

    Higgs said the loan underscored the administration’s steadfast commitment to building meaningful international partnerships and driving micro, small, and medium-sized enterprise development across all islands of The Bahamas.

    “We appreciate that Afreximbank aligns with our mandate as a national development bank, and we extend our sincere thanks for their support, which will be reflected through various industries on multiple islands for the benefit of all Bahamians,” Higgs said.

    Under the terms of the loan contract, which will be finalized with the Bahamian Ministry of Finance, BDB will direct the facility toward providing improved access to trade finance solutions to Bahamian businesses exporting to, or importing from, other Caribbean countries.

    By directing financial resources toward indigenous corporates in such key sectors as tourism, agriculture, manufacturing, and services, the facility would stimulate entrepreneurship, create employment opportunities, and foster innovation.

  • Africa: Climate financing or climate justice?

    Africa: Climate financing or climate justice?

    • By Kola Ibrahim

    n order to appear as protecting the interests of Africa and third world economies, the advanced and industrialised capitalist countries, through the multilateral organisations they control, came with the idea of climate finance support for African countries and other low income countries, who cannot bear the cost of climate change adaptation and mitigation. They present Africa as a beggar continent to be helped, while they are benevolent nations. This is not different from existing arrangement in global political economy, where third world, whose economies have been plundered for decades, are presented with token, not as a compensation, but as a gift to ameliorate their backwardness. However, several research works have shown that these so called supports end up worsening the already bad conditions of African countries. 

    Climate finance for Africa, which is aimed at providing financial support for Africa for its climate change programmes, is actually aimed at green-washing the developed capitalist countries’ dirty fossil-fuelled economy, which laid the basis for the current tragedy of climate change. Secondly, it is aimed at giving false hope of improvement, a form of hypnotising elixir for development. Thirdly, climate finance is a form of strategic tool for control of Africa’s economy. No financing support which are basically voluntary, come without attached conditions by donor countries. These conditions are aimed at making the recipient countries to be fashioned in the image that the donor countries want them to be. No developed capitalist country will provide tangible financial support to any third world country whose economic orientation tends toward public ownership, technological development and self-sufficiency. Furthermore, no developed country will allow open transfer of technologies and discoveries to third world countries, unless such is no more economically relevant to it. 

    Moreover, all major funding supports have been aimed at profit making in the final analysis, while being presented as a form of charity or support. Therefore, current system of climate finance for Africa is a multi-purpose vehicle for furthering interests of the industrialised capitalist economies, under the guise of assisting to fight climate change and its impacts in Africa.

    This reality is better understood through the nature and attitude towards climate finance in Africa. According to various nationally determined contributions (NDC) documents by African countries, it will require $2.77 trillion to implement climate actions in the period from 2020 to 2030; $277 billion annually (CPI, 2022). Meanwhile Africa’s GDP as at 2022 was $2.93 trillion, which means that averagely, 11 percent of Africa’s GDP will be needed for climate action. Out of the annual climate need of $277 billion, climate adaptation cost, which is the money needed to manage the impacts climate change on Africa, is estimated to be 24% ($600 billion or $60 billion/year). However, this amount is considered to be highly underestimated, due to lack of proper quantitative research. African countries plan to provide $264 billion ($26.4 billion annually; 25% of total NDC cost). Yet, despite the hoax about global climate funding, the total funding support for Africa was $30 billion in 2021. This represents only 12% of the needed annual funding for climate actions in Africa. Of this amount, at least 39 percent is for adaptation, while 49 percent is for mitigation. 

    Also, out of the measly $30 billion, the private sector contributed only 14%, while the public contributed the rest. This shows that the private businesses cannot be relied upon for development in Africa, especially in terms of climate action. The basic reason for this is that Africa is currently not commercially important for global finance capital. Aside the often cited political instability and poverty, low level of development and longer gestation period for investment makes private climate investment in Africa unattractive. However, they, (the big private investors) will be willing to invest if the local capitalist governments can insure their investments and guarantee them adequate profits. These can only be done through committing public resources to guaranteeing private investment, and privatising important sectors such as power, energy, etc., and allowing private multinational corporations to charge international prices. All of these will further impoverish the people. Beside this, the other way is the handover of natural resources, which are important for climate business to big multinational corporations under the guise of attracting investments. It is not therefore surprising that only 10 countries, out of 54 African countries, got more than half of all climate investments (public and private) (CFI, 2022). 

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    However, beyond the low private sector contribution is the fact that the public climate funding has been mostly business oriented loans.  Only 45 percent of climate finance committed to adaptation was grant, while the rest 55% being loan and private equity (low cost project debt and project level market rate debt). The trend is even worse for climate mitigation with only 15% of mitigation funding being grant, while the rest 85% is one form of loan or the other: low cost project debt, project level market rate debt, project level equity, balance sheet financing (debt and equity), etc. This shows the raw capitalist attitude towards climate financing in Africa: to extract profits from Africa. 

    While the continent actually need mitigation, especially given the development need of the continent, the reality however is that the continent needs adaptation more, especially in the immediate. The continent contributes less than 5% of historical global greenhouse gases, but it is being adversely affected by climate change more than any other region, as a result of limited financial, economic, scientific, technological resources and expertise to confront these impacts. Therefore, genuine global regime of climate financing should naturally support more adaptation, with focus on providing not just financial resources but also technological and scientific resources and expertise for the continent. More than this, funding should be more of grants, rather than loans, especially given the economic underdevelopment and limited financial resources of African countries. 

    On the contrary, global finance capital and capitalist governments of the advanced economies, using the multilateral organizations and various funding instruments they created, prefer to cash in on the current state of African countries to further under-develop them, extract more profits from them, and hide under aid and assistance to cheaply access the huge natural capital (critical minerals, forest resources, etc.). By defining the terms of debt-driven climate financing, donor countries and the multilateral agencies force African countries to liberalise their economies and make them ‘conducive’ for foreign investors to leverage on the climate financial instruments they are providing. This has been the method of climate funds promoted by western governments. 

    This market-oriented, debt-driven approach will further undermine the economies of African countries. Currently, most African countries have unsustainable debt profile, which is weighing down their development and further impoverishing their people. Africa’s external debt at $645 billion (as at 2021) is already a huge burden on its development (ONE, 2022). Africa’s external debt is 29% of its GDP, while the total public debts stood at $1.83 trillion as at 2021 (62.8% of GDP), an increase of 183% since 2010 (UNCTAD, 2023). This has impacted seriously on the continent’s finances and development. For instance, sub-Saharan Africa’s debt service (public and public guaranteed) of $43 billion in 2021, represent 41% of governments’ revenues (World Bank, 2021). The median debt servicing to government expenditure ratio, at 10.6% is more than that of health and close to that of education. 

    • Ibrahim, an author and scholar-activist, is a public intellectual and climate justice researcher and campaigner. He can be reached at: kmarx4life@gmail.com
  • Report links proliferation of small arms, ammunition in Africa to foreign military presence

    Report links proliferation of small arms, ammunition in Africa to foreign military presence

    Reportconducted by Foundation for Peace Professionals (PeacePro) has attributed foreign military presence in Africa to the proliferation of arms, ammunition and growing insecurity in the continent.

    The report was dubbed Africa Peace Insight (API)

    The report noted that huge mineral exploration in the continent had not brought commensurate economic returns to clean up its environment, create economic prosperity and provide employment for its teeming youth population.

    Africa Peace Insight however, recommended de-militarization of Africa by ending all foreign military presence within a set time frame and developing a joint continental gateway to global mineral market.

    On its peace rating, API named Mauritius, Sierra Leone, Botswana, Equatorial Guinea and Tunisia as most peaceful countries across the 5 subregions of Africa and it equally listed South Africa, Sudan, South Sudan, Mali and Democratic Republic of Congo as least peaceful countries across the subregion.

    The Executive Director, PeacePro Abdulrazaq Hamzat made revelation at an online public presentation which had 129 participants.

    He said.thaf “API is an extracted report from the Global Peace Index (GPI), produced by Australia based Institute of Economics and Peace (IEP) to contextualize, simplify and further breakdown the GPI from a continental perspective.”

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    Hamzat explained that API report spotlighted ongoing conflict in Africa including the situation in ECOWAS led West Africa and the ongoing crisis in Sudan, review findings of Global Peace Index, presented Africa as a single entity by extracting North Africa rating from Middle East as done by the GPI.

    The report also outlined the most and least peaceful countries across the subregion and provide recommendation on pressing peacebuilding concern in the continent.

    The report said that more than 70 percent of the continent was more peaceful than the United States, despite the huge challenges in the continent, adding that no African country is amongst top 3 least peaceful countries in the world for 4 consecutive years.

    It also noted that Africa is the epicenter of global crisis, as the Ethiopian civil war recorded more death than any other conflict in the world, yet it wondered why the continent didn’t get commensurate relief support compared to Ukraine, which had less casualties.

    Lecturer at the Gambia University of Science Engineering and Technology (USET) Mrs Zulfah Jubril Sanni reviewed the report and said that the Africa Peace Insight report mirrored.the reality of the continent.

    According to Zulfah, The Gambia was listed as 4th most peaceful country in the report and she said that it reflected the peaceful nature of the country.

    “While the country may not be as developed and rich like Nigeria,  the general life style of the people is built around contentment and social cohesion” she said.

    Zulfah also maintained that, the false perception of  secessionist agitation in many African countries has been exposed as lacking depth, as demonstrated in Sudan.

    “Inspite of the separation of South Sudan from Sudan, both countries are still amongst the least peaceful countries in the continent, with both having an aggravated internal crisis, far beyond the situation they had before their separation. She said.

    Another reviewer, who is a member of the Kwara state House of Assembly Hon. Rukayat Shittu stated that, the media had.a huge role to play in giving positive reports about Africa more prominence.

    According to her, the review of the Global Peace Index in the Africa Peace Insight report brought a new perspective to the report.

    She said, media should deliberately seek out positive aspects of any report or situation to uplift the continent, rather than echoing the narrative of foreign media or being fixated on negative stories.

    Rukayat added that, “PeacePro has led the way in this aspect and that’s why we are now learning new facts about the Global Peace Index, which many thought outrightly concentrated in misery in the continent”.

  • Africa Creative Market promotes economic development of creative industry

    Africa Creative Market promotes economic development of creative industry

    The Africa Creative Market (ACM) is an eagerly anticipated annual event that serves as a catalyst for growth in the creative economy.

     The vibrant gathering brings together key players from the African and international creative industry, providing a platform for collaboration and innovation.

     For 2023, the event takes a significant leap forward by placing a strong emphasis on safeguarding intellectual property rights and harnessing the power of technology.

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     According to the Founder, ACM, Dr. Inya Lawal, this collaboration signifies the event’s growing global influence and underscores its commitment to fostering sustainable economic growth within the creative sector.  As the Africa Creative Market continues to evolve, it serves as a global stage where Africa’s creative entrepreneurs can shine, capturing the attention of a diverse and discerning audience. The gathering not only celebrates the richness and diversity of African creativity but also offers a gateway to lucrative and fulfilling ventures for both local and international investors.

     With a focus on intellectual property and technology, the Africa Creative Market is poised to revolutionise the creative industry, creating a lasting impact that extends far beyond the event itself.

     The ACM 2023 will also focus on film/TV, music, fashion, and dance, as well as advertising, games, cultural education, edutainment, VR/AR, and photography. 

     “The organisation’s mission is to empower creatives to scale by providing a blueprint for establishing commercially viable and sustainable business models” said Dr. Lawal.

  • Africa’s $50b yearly debt service cost worrisome, says Jimoh Ibrahim

    Africa’s $50b yearly debt service cost worrisome, says Jimoh Ibrahim

    By Collins Nweze, Marrakech, Morocco

    The $50 billion yearly debt service cost paid by African economies is worrisome, and does not address the fundamental challenges with the economies, billionaire businessman, Senator Jimoh Ibrahim, has said.

    Speaking on the sidelines at the ongoing World Bank/International Monetary Fund (IMF) yearly meetings in Marrakech, Morocco, he said Africa is hugely in debt, using $50 billion yearly to service debts without paying the debtor. 

    He suggested that the impact of pollution from climate change issues and burning of fossils should be paid as compensation to Africans.

    He said: “This is worrisome to the entire world. What I told the IMF and World Bank is that there is a climate change issue impacting the continent. The carbon dioxide is polluted by the plethora of cars in America and burning of fossils. 

    “This is really affecting Africans and their health. The consequences should be paid by the pollutant and they should pay for the damages that erupts in the African continent, because disaster does not require visa to travel.’’

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    Continuing, Ibrahim asked, who would pay for the burning of fossils and pollution of carbon dioxide in Africa? 

    “If you quantify the amount of damage done to Africa, you can exchange it for Africa’s debts. The IMF is looking at this seriously and they asked me a question: How do we quantify the damages? But I told them, we have data. We don’t produce cars in Africa, but the whole world uses cars.” 

    Ibrahim said these cars are produced in either Germany, America, Russia, China and India. 

    “Imagine the number of cars in the world and burning fossil oil is consequences of all the disasters we see.

    “It means that the whole carbondioxide pollution is coming to Africa and for every conference you have on climate change, America finds it difficult to sign to the agreement of liability and we are saying we must get people to sign to the liability because he who pollutes must pay,” he added.

    Ibrahim said there was a need to get to the data and determine the number of pains to Nigeria arising from generating electricity and heat by burning fossil fuels, which causes a large chunk of global emissions.

  • Africa’s total exports to hit $1tr by 2035

    Africa’s total exports to hit $1tr by 2035

    • AfCFTA to add $276b

    Africa’s total exports will rise to about $ 1 trillion by 2035, with the African Continental Free Trade Area (AfCFTA) providing further impetus to sustain the continental growth over the next decade.

    A report, Future of Trade: Africa, published yesterday by Standard Chartered, highlighted the outlook for African trade and provided a view of the AfCFTA as a key proponent of optimising intra-African trade.

    According to the report, Africa’s total exports will reach $952 billion by 2035 and the AfCFTA, once fully implemented, has the potential to increase this figure by a further 29 per cent. This represents an annual growth rate of three per cent from now until 2035.

    The report stated that rising regional trade levels and greater connectivity will unlock high?growth corridors across Africa and beyond. Intra-Africa trade is expected to reach $140 billion by 2035, equating to 15 per cent of Africa’s total exports.

    Group Chairman, Standard Chartered Plc, Dr José Viñals, said that if implemented effectively, the African Continental Free Trade Area can radically reshape future growth and development.

    “It will enable higher value-add supply chains and more diversified exports, allowing member states to reduce historical commodity dependence and achieve meaningful progress towards multiple sustainable development goals (SDGs).

    “Through our global footprint, local expertise and innovative solutions, we are committed to supporting the development of the right policies, securing cooperation, and applying technology and capital in order to build better connections within the continent, and beyond,” Viñals said.

    Regional Chief Executive Officer, Standard Chartered Africa Middle East, Sunil Kaushal, said the disruptions to Africa’s supply chains over the last few years have amplified the urgency to implement the AfCFTA.

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    “At the same time, the findings of our report outline the requirements to exponentially bolster Africa’s exports, which the AfCFTA would benefit greatly. With the right regulations, collaboration, and governance, this opportunity can be made a reality.

    “For over 150 years, Standard Chartered has supported Africa’s growth and progress, actively contributing to the continent’s infrastructure development and economic advancement. We will continue to work with the relevant stakeholders in driving trade throughout the continent and ensuring Africa’s sustainable economic development,” Kaushal said.

    The report outlined that Africa’s corridors with some of the world’s most dynamic regions will grow faster than the global average of 4.3 per cent.

    The East Africa-South Asia corridor is expected to emerge as the fastest-growing major corridor, at 7.1 per cent per annum through to 2035. The Middle East-North Africa and the Middle East-East Africa corridors will also be substantial, with their combined trade volume expected to reach almost $200 billion by 2035.

    The report noted that the AfCFTA is not the first attempt made by Africa’s markets to promote greater cohesion, but the existing agreements often have overlapping or contradicting objectives – creating a “spaghetti bowl effect”.

    The report pointed out that there are eight significant regional economic communities (RECs) recognised by the African Union (AU), and most AU markets are enrolled in two or more RECs, with the high costs of compliance and administration making intra-Africa trade less competitive.

    According to the report, AfCFTA could help overcome this by implementing common rules of origin, which grant all 54 AfCFTA members preferential trade access to each other’s markets, to the extent set out in the agreement.

    The report however pointed out that Africa till has barriers to overcome to realise the full potential of its trade opportunity.

    Based on a survey conducted with over 100 of Africa’s business leaders, 63 per cent polled said complex and uncertain trade rules are one of the top challenges of intra-African trade. 53 per cent of respondents noted that underdeveloped transportation infrastructure is a key barrier. 51 per cent cited ineffective trade facilitators as another hurdle, whilst 46 per cent noted that limited or costly access to capital is a challenge.

    Around 90 per cent of respondents believe the AfCFTA can address most of these issues. Progress has been made in this regard, with the AfCFTA taking steps to address barriers through various initiatives, such as a reporting mechanism and a guided trade initiative to accelerate trading  amongst countries.

    Digitalisation also plays an important role in bolstering intra-Africa trade. The report demonstrated that adopting digital supply chain financing (SCF) solutions could unlock $34 billion of export value in five key African markets by 2035. Almost all, 97 per cent, of respondents are interested in digital SCF solutions but cited resource constraints, a technology gap and interoperability challenges as key barriers to adoption.

  • Mustiboy releases Pride of Africa

    Mustiboy releases Pride of Africa

    A Nigerian-Canadian afro reggae artist, Mustiboy, has released his Afro reggae album entitled Pride of Africa.

    October 5, marked the beginning of a musical odyssey that transcends borders and genres. Pride of Africa is not just an album, it’s an invitation to explore the rich tapestry of Mustiboy’s music and cultural heritage.

    “With Mustiboy as your guide, embark on a journey that celebrates the fusion of African and Canadian influences, promising an unparalleled listening experience,” he said in an interview after the album’s release.

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    “As ‘Pride of Africa’ makes its global debut, the melodies and messages within this album are destined to resonate with audiences worldwide, making it an iconic musical journey of our time,

    “I have always been influenced by various genres of music, Reggae, Afropop, Hip Hop and even musical artists, Lucky Dube, Fela, Alpha Blondy, Bob Marley, Tiken Jah fakoly, Majek Fashek, Raskimono and Peter Tosh,” said Mustiboy.