Tag: Africa

  • GCF, AFC to drive low-emission development in Africa

    The Green Climate Fund (GCF) will help African countries ramp up their economic growth in ways that do not exacerbate climate change.

    This was said during the signing of an agreement with the Africa Finance Corporation (AFC), last week.

    The two organisations signed an Accreditation Master Agreement (AMA), a prerequisite for all GCF Accredited Entities to implement GCF-approved projects. AFC intends to leverage its partnership with GCF to further its low carbon emission investments in four key sectors: power, transport, heavy industries and telecommunications.

    The Chief Investment Officer of AFC, Oliver Andrews, said during the AMA signing that the consequences of climate change impacts may seriously affect the successful development of Africa’s economy.

    “AFC is, therefore, highly committed to this partnership with GCF. Not only does AFC and the GCF have shared goals, we also have shared values. For example, AFC is committed to investing in post-conflict countries and those that face structural developmental challenges. Equally, the GCF also prioritises societies that are highly vulnerable, in particular the Least Developed Countries (LDCs). As AFC is also driven by a belief in sustainable economic growth, in every sense this synergy is an excellent recipe for success,” Andrews said.

    The Director of GCF’s Country Programming Division, Pa Ousman Jarju, said AFC is well placed to support African entrepreneurs explore the vast potential for economic growth across the continent in ways that do not harm the global environment.

    “GCF activities are aligned with the priorities of developing countries through the principle of country ownership in climate finance. For instance, with the strategic injection of capital, African companies could one day lead the way in generating non-polluting energy for industry and local communities,” he said.

    AFC is financing and managing key infrastructure projects across Africa. It has invested approximately $4 billion in projects across 28 countries in a wide range of sectors including power, telecommunications, transport and logistics, natural resources and heavy industries.

  • Nigeria wins 2nd Africa Zone 2 Junior Swimming Championship

    Nigeria wins 2nd Africa Zone 2 Junior Swimming Championship

    Nigeria on Sunday swept the medals table to emerge winner of the 2nd Africa Zone 2 Junior swimming Championship at the newly refurbished National Stadium Swimming Pool.

    The News Agency of Nigeria (NAN) reports that Nigeria won 26 gold, 35 Silver and 26. Bronze medals, winning a total of 87 medals.

    Ghana came second with 12 gold, nine silver and six bronze medals making a total of 27 medals.

    Senegal came third with eight gold, three silver, and six bronze winning a  total of 17 medals.

    The event took place from Oct. 27 to Oct. 29.

    Ten countries took part in the 2nd edition of the regional swimming championship.

    Read also: Dalung woos sportsmen into Nigerian Police

    They are, Nigeria, Senegal, Ghana, Togo, Guinea, Central Africa Republic, Sierra Leone, Benin Republic, Niger and Equatorial Guinea.

    The maiden edition of the Championship was held in 2012 at Akure,  Ondo

  • Dangote Cement drives volume across Africa

    Dangote Cement drives volume across Africa

    Dangote Cement has maintained its strong hold in the   market, accounting for 65 per cent of market volume, while other African plants’ volumes went up by 7.5 per cent to 7.0 metric tonne per annum (mta).

    The cement giant has in the past months expanded its operations across Africa with the coming on stream of the 1.5 mta integrated cement plant in Mfila, Republic of Congo, even as an acting chief executive officer has been appointed for the company.

    According to the unaudited results for the nine months ended September 30, 2017, the plant, which began operations last month has almost doubled the size of the cement sector in the country. The Congo plant brings to 10 Dangote Cement plants across Africa.

    Analysis of the results, accessed by The Nation, indicated that the company recorded strong volumes in Senegal, Ethiopia and Cameroon.

    In the nine months under review, the 1.5 mta clinker grinding facility in Douala, Cameroon sold approximately 938 kilotonnes of cement, indicating an increase of 16.4 per cent on the 806 kt sold during the same period in 2016.

    The company attributed the increase in sales to a number of factors ranging from strong brand recognition, increased point of sales branding, improvements in sales and marketing strategies to higher visibility through trade shows.

    Dangote Cement Ethiopia increased sales by 16.8 per cent to nearly 1.7 mta in the first nine months of 2017, representing capacity utilisation of approximately 88 per cent.

    The cement plant in Pout, Senegal, sold 1.0 mta of cement in the period under review, up by 21.7 per cent on the comparable period of 2016. This represents almost 89 pe rcent capacity utilisation at the factory.

    Chief Executive Officer, Dangote Cement, Onne van der Weijde, said: “Our Pan-African operations are performing strongly with excellent sales growth in Cameroon, Ethiopia and Senegal.

    “We are consolidating our success across Africa and have just inaugurated our 1.5mta factory in Congo, the 10th country in which we have established operations.”

    He added that the company’s key operations in Nigeria have significantly improved its fuel mix and this has helped increase margins across the Group.

    “It is especially good for Nigeria because most of the coal we are using is mined in our own country,” van der Weijde said.

  • ‘Africa ‘s vision closer to reality’

    ‘Africa ‘s vision closer to reality’

    United Nations (UN) General Assembly President Miroslav Lajčák says the vision of a transformed Africa is close to reality, citing Africa’s transformative changes facilitated by the New Partnership for Africa’s Development (NEPAD).

    Lajčák, while addressing the final event of this year’s Africa Week in the United Nations at its Headquarters in New York, acknowledged the importance of NEPAD in the continent’s development.

    NEPAD was established in 2001 and later integrated into the African Union (AU)’s structure to facilitate and coordinate the implementation of continental and regional priority projects.

    He said that the AU’s development agency predated the UN’s 2030 Agenda for Sustainable Development and the African Union’s Agenda 2063 by more than a decade.

    “NEPAD was something of a trailblazer since its adoption in 2001; NEPAD has led to transformative change.

    “For example, NEPAD’s Comprehensive Africa Agriculture Development Programme has improved agricultural productivity on the continent, changing the lives of many African farmers.

    “Additionally, NEPAD has led to big strides in the integration of African trade.

    “The finalisation of the tripartite free trade agreement this summer among the Common Market for Eastern and Southern Africa (COMESA), Southern African Development Community (SADC) and East African Community (EAC) was an important step.

    “The continental free trade area is no longer a distant dream. It could very soon be a reality,” Lajčák said.

    Lajčák said, however, that faster progress needed to be seen, not only in the two sectors of agriculture and trade but also in infrastructure, industry, economic diversification and poverty eradication.

    He pointed out that no development in Africa could be effective unless it was led from within, adding however that there had been many exciting developments at the national level.

    “African countries are also building their capacities for domestic resource mobilisation, and tackling illicit financial flows.

    “Yet, in an increasingly globalised world, the efforts within Africa need to be supported by a revitalised partnership with development partners, including UN bodies and Member States as well as by investment, financial and technical assistance.

    “Also the root causes of conflict and suffering must be addressed,’’ Lajčák said.

    According to him, the signing of a trade agreement will mean little to a mother whose young child is very sick from malaria.

    Lajčák said that foreign direct investment would not be in the mind of someone running from bullets in a war zone.

    “Africa has a very clear vision, one which involves all layers of society benefiting from growth and development; one in which malaria or other diseases do not serve as death sentences for hundreds of thousands of people every year.

    “One in which early warning signs of conflict lead more often to successful mediation than to violence; and one in which institutions are strong, women and youths both lead and participate in good governance and is the norm.

    “This vision is getting closer to reality,” he stressed.

    The plenary featured a debate by UN Member States on NEPAD as well as the decade 2001to 2010 to roll back malaria in developing countries, particularly in Africa.

  • Entries invited for 2018 Innovation Prize for Africa awards

    The African Innovation Foundation (AIF) has announced the seventh edition of the Innovation Prize for Africa (IPA) themed “investing in inclusive innovation ecosystems.”

    According to a statement, AIF is therefore inviting submissions to reward the best home-grown innovations on the continent. The annual Award seeks to celebrate outstanding breakthroughs that deliver practical, and commercially viable African solutions that are innovative and sustainable.

    Affirming AIF’s purpose to catalyse the innovation spirit in Africa, Pauline Mujawamariya Koelbl, the IPA Director commented, said the this edition will prove bigger and better in terms of participation and quality of submissions.

    “With each edition, IPA has gone from strength to strength attracting innovators across disciplines and with outstanding solutions to African challenges. For this seventh edition, we also look forward to expanding our ever-growing network of innovators, enablers and partners in order to join hands and build stronger, more sustainable innovation ecosystems that will propel the continent forward.”

     IPA Awards timeline and eligibility

    The call for entries will run for three months starting from 10 October 2017 with a submission deadline of 10 January 2018 at 23:59pm GMT. IPA’s goal is to strengthen African innovation ecosystems by supporting a culture of innovation and competitiveness, whilst spurring growth of innovative, market-driven African solutions to African challenges.

    Specifically, IPA honours and encourages pioneering achievements that contribute towards developing new products, increasing efficiency and/or saving cost in Africa. Applications will be accepted from all Africans including those living in the diaspora.

    This edition encourages greater participation from women innovators who are increasingly playing a key role in driving African economies forward through business and entrepreneurship.

    The submissions will be judged on the backdrop of IPA’s themes supporting social and economic innovation in the following five categories: manufacturing and service industry; health and well-being; agriculture and agri-business; environment, energy and water; and ICT showcasing ground-breaking innovations.

    IPA 2018 winners will be announced at an annual ceremony in July 2018 (exact dates and country to be confirmed).

    The Award is the leading innovation event on the African calendar, bringing together some of Africa’s most inspiring innovators and entrepreneurs, leaders of hubs and accelerators, angel and venture capital investors, development institutions, government leaders, media practitioners and  other game changers.

     

     

     

  • Ishaku for 2017 Africa Today Summit

    Ishaku for 2017 Africa Today Summit

    Taraba State Governor Darius Ishaku will, tomorrow, deliver a paper at the Third Africa Today Conference and Summit scheduled for the Transcorp Hilton, Abuja.

    Ishaku, a former minister of state for Power, under the Goodluck Jonathan administration, is expected to provide a insight to various energy options available in Nigeria. This year’s topic is: Energy Options in low-cost and low-carbon World: Which way Nigeria and Africa?

    Publisher of Africa Today and convener of the summit, Kayode Soyinka, told reporters in Abuja:  “Taraba State represents best practices in what has been done using renewable energy in Nigeria. Governor Ishaku will tell us what has been the state’s success using renewable energy, especially hydropower, and how it was done.

    “We will learn what it takes to be successful using alternative sources of energy. In short, he will give us the state’s top five tips for being successful in renewable energy. Taraba is also the home of the giant, very ambitious Federal Government-funded Mambilla Power Project.

    “He will also share his experience as a minister of Power, and the steps he took to provide low-cost power solutions to Nigerians during his tenure. Ishaku will offer insight into energy issues from the policy maker’s perspective.”

  • Mbeki: Obasanjo Library to help Africa recover its history

    Mbeki: Obasanjo Library to help Africa recover its history

    Former South Africa President Thabo Mbeki yesterday hailed the Olusegun Obasanjo Presidential Library (OOPL) in Abeokuta, Ogun State capital, for its potential to help Africans recover their dignity and history.

    Mbeki said the OOPL is home to important records about Obasanjo, Nigeria and Africa, adding that Nigerians should assist the former Nigerian president to maintain and preserve the facility.

    According to him, he was visiting the library to see things for himself because Obasanjo had previously spoken about it.

    Mbeki, who toured the facility, noted that the OOPL initiative is worth replicating by other African leaders.

    He added: “Hopefully, some other African leaders can come and have a look because I think the example that you have set here is an example that will be worth repeating in other African countries. This is because of the collective history told in the way that you have told it here.

    “I think it will make a very important contribution, even in the recovering of our own dignity, our own identification of ourselves. Who are we? Where do we come from? Where do we think we are going?

    “I really want to say congratulations to the (former) President (Obasanjo) and hopefully, the people of Nigeria will help you in terms of maintaining this because it is really an important part of our heritage.”

    Mbeki said he was impressed that the library has many units touching on youth development, wildlife and parks, ideas and intellectual development among others.

    He said: “I didn’t know we have such a major and complex project. I had the picture in my head of a building, which is the library and that was all. But the complex is a very, very important contribution in terms of communicating what our leadership in the continent (Africa) can do.

    “The library itself, of course, tells a very important story about Obasanjo: from his early life experiences to post-government and all that.

    “It is a very important story. In fact, it is not just a story about Obasanjo. But a good part of the story is about Nigeria and Africa.

    “It is very important that record is available, not only to the people of Nigerian but also to everybody, particularly the people of the continent.

    “I was particularly pleased with the focus that is being paid to youths. Indeed, I think our youths need to be exposed to our past because it teaches them something about the responsibilities that they have to themselves, to their country and to the continent.

    “The idea of the complex is important because it is named after a very important leader of the continent. There is also a number of initiatives, the matter about reprocessing of plastic bottles and so on.

    “It is a very important part of the process of contributing to improving our environment, considering that all of these plastics litter the place. But they are collected and reprocessed to become useful again.

    “I’m also pleased about the fact that you have here an animal farm (the wild life park), which also makes an important statement to ourselves as Africans – about the necessary need for us to protect the African heritage.

    “That heritage is also in the animals. It is very much a part of the African environment. I think the message is part of what we need to attain to become important as well as the other things that are in the complex about youths, about intellectual ideas, the association with the United Nations Education Fund (UNESCO).”

  • Insurance sector contribution to Nigeria’s GDP poorest in Africa

    The insurance sub sector contributes a paltry 0.4% to the nation’s gross domestic product (GDP), making it the poorest when compared to other countries within the continent, experts have said.

    Speaking at a public forum in Lagos, tagged: ‘Breaking The Code’ a cross-section of experts lamented what they described as the abysmally low penetration of the insurance sub-sector, stressing that this does not bode well for the economy.

    Mr. Abiodun Atobatele, who spoke on the importance of communication to the insurance industry in Nigeria, commented that “There is need for a rethink in Nigeria insurance industry. If you take automobile insurance away, Nigerian insurance industry will die. Lack of innovation has brought unhealthy competition into the sector. The low innovation in the sector has adversely affected the industry. Insurance sector only contributes about 0.4% of Nigeria’s GDP, far less than Nollywood. Unlike South Africa where 80% of Africa’s premium comes from and accounts for 13% of the country’s GDP, while in Kenya insurance account for 3% of the GDP. So if insurance is taken away from the economy, Nigeria won’t go on recession.”

    Justifying the need for the conference, the convener, Mr. Ekerete Ola Gam-Ikon said: “Breaking The Code’ was an opportunity for policy holders to share practical ideas that will improve the experiences with insurance operators.”

    Pressed further, he said: “A lot of people see insurance as something that is more like a myth, a lot of people don’t understand what it means. If customers don’t understand it then the business is in the world of its own. The language of insurance must be broken down to the understanding of customers. The essence of the theme was to say if this is a code, let’s decode it.”

    Speaking on investment in the insurance sector, Mr. Dienye Peterside, a financial expert who explored the various opportunities in the industry, observed that: “If the insurance company can step in by creating a product that will provide security for clients they are satisfied with or businesses they are happy with, it will shortcircuit a lot of steps that the financial services companies go through to provide facilities, and it will generate more income. The insurance companies need to open her eyes to new opportunities rather than going the traditional way. Insurance companies in Europe and America own banks which have branches in over 50 countries and they report to the insurance company. It’s the other way here, insurance companies are owned by banks before CBN regulated it.”

    The event had in attendance investors and policyholders from various sectors including: Mr. Stanley Obinna Zebulun, President/CEO Venerate Capital, Mrs Edobong Akpabio of Organic Green Animal Farms, Mr. Abiodun Atobatele, Founder & Chairman, ATB Techsoft Solutions Group, Mr. Charles O’tudor, Brand Strategist/Principal Consultant, ADSTRAT Consortium, Mrs Ini Abimbola, Lead Consultant, ThistlePraxis Consulting Limited (TPC), Mr. Emmanuel Essien, Managing Director, Alpha Mead Capital (AMC) and Mr. Olubola Mark George, Chief Strategy Officer, Mark George Consultants.

  • Ex-UN man for Africa Today summit in Abuja

    The third Africa Today conference  will hold at Transcorp Hilton, Abuja, on October 17. It will discuss a germane topic, particularly as it relates to Nigeria and Africa. This year’s topic is Energy Options in Low-cost and Low-Carbon World: Which Way Nigeria and Africa?

    The special guest of honour and keynote speaker is energy expert, international technocrat and renowned sustainable development specialist Dr Kandeh Yumkella.

    A former United Nations under-secretary general, 2013-2015, Yumkella was the chief executive officer and representative of the secretary general’s Sustainable Energy for All Initiative and UNIDO Director-General, from 2005 to 2013.

    He will be supported by British High Commissioner Mr Paul Arkwright; Dr. Frank Jacobs, president of the Manufacturers Association of Nigeria; Mr. Olukayode Pitan, managing director of Bank of Industry; Mr. Nir Marom, co-founder and president of Lumos; and Mr. Adekunle Oyinloye, managing director of Infrastructure Bank, among others.

    Mr. Victor Eromosele, former general manager (Finance) at the Nigeria Liquefied Natural Gas Ltd is the guest speaker, while Minister of Power Babatunde Fashola will give the keynote address.

    Africa Today Publisher Mr Kayode Soyinka said: “Dr. Yumkella is someone who is well known in Nigeria and Africa, especially for his work as director-general of UNIDO and as UN under-secretary-general and representative of the secretary-general on Sustainable Energy for All.

    ‘’His presence at this year’s edition follows Africa Today dream of bringing to Nigeria and Africa international figures to speak, share and impart their knowledge and experiences with us on this Policy Conversation Platform, which Africa Today has endowed.”

    Africa Today, through its Conference and Summit Unit, has been at the forefront of innovative continental discussions. The first edition, which featured a former Commonwealth Secretary-General, Sir Shridath (Sonny) Ramphal in 2015, focused on the controversial Economic Partnership Agreement (EPA) between the European Union and Africa at a time the continent was being pressured to sign the agreement. The second edition last year focused on China’s increasing influence in Africa and what its entry portends for the continent. The conference had as its keynote speaker, Sir Vince Cable, a former Business Secretary in the British cabinet. There were two other speakers, Prof. Howard French from Columbia University, New York, and Prof. Yun Sun from the Brookings Institution, Washington DC.

  • Mbembe calls for African integration through open borders

    Mbembe calls for African integration through open borders

    Renowned African historian, Joseph Achille Mbembe, has made a solid case for Africa’s integration through open borders that allow free movement of people on the continent.

    “History tells us that the first thing you do to incapacitate people is to restrict their ability to move.  Mobility allowed the stretching of societies; was determinant to trade and to building African civilizations,” Mbembe said.

    The erudite scholar made these arguments at the 21st edition of the African Development Bank’s Eminent Speakers series cat the Bank’s headquarters in Abidjan on the theme, “The Cost of Borders.”

    The AfDB is investing heavily in transport infrastructure as part of its High five priority programme to fast-track Africa’s integration. Mbembe argues that a big bank like AfDB should do more by creating ideas to impact the world’s view on the positive aspects of mobility.

    He cited a study that found that the cost of transportation in Africa is 136% higher than in most other countries, largely due to inadequate infrastructure and restriction of movements.

    Mbembe also cited AfDB’s statistics which indicate that investing US$32 billion in transport infrastructure every year for 15 years in Africa would enhance trade by US $250 billion.

    He said restricted mobility and limited open borders is a serious cost prohibitive issue in a continent saddled with hundreds of internal borders and is highly cost prohibitive.

    The biggest challenge facing Africa in the 21st century is for the continent to become a vast area of freedom of movement. The future of Africa does not depend on restrictive immigration policies and the militarisation of borders, he says.

    He further explained how barriers and political issues constrain continental efforts to integrate Africa through investments, trade, finance and free movement of people and skills.

    According to Mbembe, borders have become a geopolitical question, with the proliferation of new forms of violence. Issues of safety and security have resulted in a global expansion of security infrastructure to monitor insecure places. Massive investments are made on new technologies such as drones, to the point that securing borders has become a big industry.

    At the same time, refugee issues and the migrant crisis in the Northern and Southern parts of Africa will spur a demographic revolution that in turn will reshape the face of the world. “For years now, many have died attempting to cross borders in search of better living conditions. “This, he said, is an issue Africa must address.

    Building on experiences in other regions, and specific African countries, the Speaker addressed the need to think deep about managing African borders and the possibility of privatizing boarder management.

    Concerning language barriers, Mbembe said English and French are now seen as African languages that are no longer a prerogative of French and English people.

    “Our relationship with these languages obliges us to consider them to be part of our heritage. We have to move our borders and adapt them to the environment in which we find ourselves,” he explained.

    “We must open the continent to itself and turn it into a power house. It must be turned into a vast space of circulation. This is the only way for it to become its own center in a multipolar world.”

    For mobility to become the cornerstone of a new pan-African agenda, we need to leave behind migratory models based on anti-humanist concepts such as “national interest” and embrace our own long tradition of flexible, networked sovereignty and collective security, he says.

    Introducing the speaker, the Bank’s Chief Economist and Vice-President, Celestin Monga, emphasized the relevance of the theme under discussion, saying that regional integration is one of the institution’s five operational pillars. He also highlighted Africa’s size and the diversity of its economic structure as issues to contend with in efforts to promote integration.

    Mbembe is an eminent professor at the Institute of Social and Economic Research of Witwatersrand University, Johannesburg, South Africa. He served as Executive Director of the Council for the Development of Social Science Research in Africa (CODESRIA) in Dakar, Senegal. He was a visiting professor at the universities of Harvard, Duke and California in Berkeley in the United States.