Tag: Africa

  • Africa suffers low research output

    Low research output has been identified as one major reason why many African universities are yet to attain the world-class status.

    To reverse the trend, Dr Paul Effah, former Executive Secretary, National Council for Tertiary Education, Ghana, said there must be a reawakening and new orientation towards academic research which must be contextualised to align with individual university mandate.

    Effah spoke while delivering the eighth convocation lecture of the Covenant University (CU), Ota Ogun State. The lecture held, at the university chapel was titled: Repositioning African Universities for excellence- Theoretical and practical perspectives.

    He said: “A 2009 UNESCO Science Report indicates that sub-Saharan Africa’s share of world researchers was 0.8 or 71.7 researchers per million population. The corresponding figures for Asia and North America were 38.2 per cent and 660.2 and 26.8 per cent and 4,653.2 respectively.”

    Effah said it is about time universities in Africa established criteria that will align with their mandates and key indicators upon which they can assess themselves based on laid down guidelines by their managements or Governing Councils.

    The charge, Effah argued, is against the backdrop of many research works carried out in Africa, which might not be directly addressing local challenges or the mandates of the university that executed them because such researches are being substantially funded by western donors.

    “One worrying aspect of research in African universities is that most of the research is financed by foreign donors who invariably dictate the terms of the research. This was confirmed in a study undertaken at the University of Ghana in 2010 by the Ghana Institute of Management and Public Administration which indicated that about 90 per cent of research funds in the university were from international agencies or collaborative efforts with other institutions abroad.

    “A related issue to externally drawn research agenda is the whole question of dissemination of research results which often is not made available to African governments and institutions for implementation. Another is that the external partners always become principal researchers with the contributions of the local counterparts hardly acknowledged.”

    Aside seeking more research funding, and infusing indigenous knowledge into research Dr Effah frowned against the practice where academics are saddled with administrative work which he said could hamper them from carrying out research. He also spoke against too much of teaching at the undergraduate level, leaving little room for research, as well as lecturers who hop from one university to another teaching on part-time or full-time basis without substantial time for research.

    On how African universities can be repositioned for excellence, Effah said the need to restructure governance in Africa is paramount as many of the ills plaguing African universities are a reflection of poor governance at all levels politically.

    Quoting a researcher, Burton Clark who identified three models of university governance – European, British and American, Effah urged Africa to develop her own model approximating some of the ideals such as participatory approach, autonomy, and distributive authority among others in the three aforementioned models.

    “Without a corps of dedicated and committed leaders, men and women of vision, action and character, growth and development will continue to elude Africa. The challenge is for African universities to strive to turn out African leaders to transform the continent and take her to the next level of development,” Effah concluded.

     

  • World Bank votes $14.7b for Africa

    The World Bank Group has committed $14.7 billion in the fiscal year to support economic growth and better development prospects in Africa.

    In a statement it said the support came despite uncertain economic conditions in the rest of the global economy.

    “The region has shown remarkable resilience in the face of a global recession and continues to grow strongly. Africa is at the center of the World Bank Group 2030 goals of ending extreme poverty and promoting shared prosperity, in an environmentally, socially, and fiscally sustainable manner,” Makhtar Diop, World Bank Vice President for the Africa Region said.

    He said the global lender continued its strong commitment to Africa approving $8.25 billion in new lending for nearly 100 projects this fiscal year. These commitments include a record $8.2 billion in zero-interest credits and grants from the International Development Association (IDA), the World Bank’s fund for the poorest countries.

    The report said in the year, the World Bank Group increased its focus in Africa on regional drivers of fragility and conflict, especially regarding the Sahel and the Great Lakes regions.

    In May, this year, during an historic joint United Nations/World Bank Group mission to the Great Lakes, the bank announced a $1 billion development pledge to help countries in the region provide better health and education services, generate more cross-border trade, and fund hydroelectricity projects in support of the Great Lake’s peace agreement.

    The commitments sent strong message that peace and development are inseparable and must be addressed together and also emphasising the bank’s commitment to increase its work in states emerging from conflict and its determination to help lift fragile states out of fragility and back on a positive development track.

     

  • Africa Re goes to Brazil

    Africa Re has been granted licence to operate as an occasional Reinsurer in Brazil as it gets set to expand its operations for the first time in Latin America.

    This important step ,according to the reinsurer, will allow it to expand its operations for the first time in Latin America, which will add to its presence in Africa and Asia.

    Group Managing Director of Africa Re, Mr. Corneille Karekezi, who unveiled the company’s latest achievements after its Annual General Assembly in Dakar, Senegal, said a framework for cooperation in Reinsurance business has been signed between Africa Re and IRB-Brasil Re, the leading reinsurance company in Brazil.

    He said Africa Re would start to write some businesses from the Brazilian market and benefit from exchange of competence through cross-attachment of technical staff, increase of shares in retrocession programme and extended underwriting capacity. Later, Africa Re shall register as an Admitted Reinsurer.

    In another development, A.M. Best and Standard & Poor’s (SP) have affirmed the Financial Strength Rating and the Issuer Credit Rating/Anchor of the company. The rating firms retained Africa Re’s impressive A- in Financial Strength Rating and Issuer Credit Rating/ Anchor.

    The A.M. Best rating of Africa Re reflects its strong risk-adjusted capitalisation and operating performance, as well as its established market position across the African reinsurance market. Although Africa Re is exposed to the unstable political and economic environment in some African countries, these risks are largely mitigated by its geographic diversity, asset-liability matching strategy and the ease with which the corporation can shift its operations between its regional offices.

    The Standard & Poor’s ratings – after Insurance Criteria change- reflect their view of Africa Re’s satisfactory business risk profile and strong financial risk profile, built on a strong competitive position in Africa’s reinsurance market, as well as its very strong capital and earnings.

    S&P derives their ‘a-’ anchor for Africa Re from the combination of these two factors and view potential modifying factors – adequate enterprise risk management (ERM), satisfactory management and governance, and exceptional liquidity – as neutral for the ratings. The S&P ratings on Africa Re reflect the company’s stand-alone credit strength and do not include any uplift for support from the Nigerian sovereign. At the same time, the ratings are not constrained by the sovereign rating due to Africa Re’s significant asset and premium diversification.

    In the financial year 2012, Africa Re reported a 35 per cent increase in pre-tax earnings to USD93 million. Results were supported by a rebound in the equity markets, resulting in higher investment returns (including fair value gains) of 5.7 per cent (2011: 3.7 per cent), and a stable combined ratio of 91 per cent.

    Africa Re’s operating performance remains strong, underpinned by stable underwriting results and solid investment returns, and continues to meet its strategic objectives comprising return on average equity (ROE): 14 –17 per cent, return on revenue: 8.7 -12.2 per cent, net combined ratio: 92 – 97 per cent and net loss ratio: 61-66 per cent.

    Africa Re’s strong risk-adjusted capitalisation was further strengthened (in part) by the successful execution of its ongoing capital-raising initiative in 2012. This has resulted in an increase in paid-up capital to USD 287 million in 2012 from USD 100 million in 2009. Higher retained earnings underpinned by the corporation’s strong income generation, also contributed to the rise in shareholders’ funds to USD 609 million in 2012 from USD 482 million in 2011.

    Africa Re is a reinsurance company with headquarters in Lagos, Nigeria. It has six regional offices in Casablanca, Morocco; Nairobi, Kenya; Abidjan (Côte d’Ivoire); Port Louis (Mauritius); and Cairo (Egypt). The Lagos office is for English-speaking West Africa as well as two subsidiaries in Johannesburg (Africa Re South Africa Limited) and in Cairo (The African Takaful Reinsurance Company).

    The Corporation is owned by 41- member states of the African Union (AU), the African Development Bank (AfDB), the International Finance Corporation (IFC), the German Investment and Development Corporation (DEG), the Dutch private sector financing company (FMO), PROPARCO (subsidiary of the Agence Française de Développement), IRB-Brasil Re and about 100 insurance and re-insurance companies.

  • Maritime security: Africa, U.S, UK naval chiefs meet in Calabar

    Naval chiefs from Africa, the United States and the United Kingdom converged on Calabar on Monday to strategise on ways to ensure a safe and secure maritime environment in the Gulf of Guinea.

    The News agency of Nigeria (NAN) reports that the meeting, expected to end on Wednesday, had no fewer than 14 African naval chiefs in attendance at the Tinapa Lakeside Hotel.

    In his opening remarks, the Chief of Naval Staff, Vice Adm. Dele Ezeoba, said the meeting was called because of challenges and threats to the economic interests of states in the Gulf of Guinea (GoG).

    He said GoG strategic location informed the decision to collaborate on the security of the region and the convocation of the first Regional Maritime Awareness Capability Conference (RMACC) in Calabar.

    Ezeoba said the GoG had become a source of concern to the region and the international community given its myriad of security challenges.

    He said the threats on regional security included piracy, sea robbery, drug and human trafficking, pipeline vandalism and crude oil theft.

    Ezeoba also listed illegal, unregulated and unreported fishing, proliferation of small arms and light weapons and environmental degradation as sources of threats in the GoG.

    “Regrettably, these threats constitute serious challenges and adversely impact on the collective maritime governance imperatives and economic wellbeing of nation states in the GoG.

    “It is, therefore, imperative to emphasise that no meaningful development can take place in an atmosphere of insecurity within the global commons.

    “As discomforting as these threats would appear, they are not insurmountable hence the clarion call for the enthronement of constructive, proactive, sustainable and holistic maritime security architecture.

    “Such structure would ensure a secure and safe maritime environment for optimal exploration and exploitation of the abundant maritime resources.

    “These resources are germane for socio-economic growth and national development of the sub-Saharan Africa while providing economic opportunities for the rest of the world,’’ Ezeoba said.

    Ezeoba said the security of the GoG should be anchored on the Yaounde declaration “within the context of extant code of conduct, protocols and memoranda of understanding of the GoG commission, ECOWAS and ECCAS’’.

    “It is only logical that we also place maritime security on the top rungs of our national security priorities.

    “An effective maritime security regime in the GoG must be pitched on core attributes such as the elimination of sea blindness within the African continent, sincerity of purpose, strength of character and above all, the political will of all member-states and stakeholders.”

     

  • Learn Africa: Hard start

    Learn Africa Plc started its first year as a wholly-owned Nigerian company on a difficult note with marked decline in the company’s overall performance outlook. Audited report and accounts of the education resource company for the year ended December 31, 2012 showed a generally negative performance but the company appeared to be on a firmer ground with improved financing and liquidity positions.

    Both actual profit and loss figures and underlying profitability ratios were negative as the company struggled with static sales amidst rising operating expenses. While turnover dropped marginally by 0.3 per cent, profits before and after tax slumped by 44 per cent and 21 per cent respectively. Average pre-tax profit per unit of sales halved from 13 per cent to 7.3 per cent, reflecting the marked increase in average cost of business relative to sales from 89 per cent to 98 per cent.

    With the decline in profitability, the company reduced cash payouts to shareholders by 20 per cent. Besides, the underlying returns to shareholders, intrinsic value of the company and future sustainability of dividend payment diminished during the year.

    However, the company’s balance sheet emerged stronger with zero financial leverage, higher equity funding and improved liquidity. These balance sheet supports provide a reassuring outlook for recovery.

     

    Financing structure

    Learn Africa’s total assets stood at N4.61 billion in 2012 as against N5.02 billion in 2011. Long-term assets had increased by 24 per cent from N610 million to N758 million, counterbalancing the 13 per cent decline in current assets from N4.41 billion to N3.85 billion. Meanwhile, total liabilities dropped by 28 per cent from N1.43 billion to N1.03 billion. Current liabilities had also fell by 30 per cent from N1.33 billion to N937 million. While paid up capital remained unchanged at N385.7 million, shareholders’ funds dipped slightly from N3.59 billion to N3.58 billion.

    With no debts, equity funds amounted to 77.6 per cent of total assets in 2012 compared with 71.6 per cent. The proportion of current liabilities to total assets dropped from 26.5 per cent to 20.3 per cent.

     

    Efficiency

    There were marked declines in the company’s cost efficiency and productivity. Employees’ contributions failed to match substantial increase in staff costs during the period just as rising costs weighed in on margins. Average number of employees had dropped by 16 per cent from 241 persons to 204 persons. Total staff costs meanwhile, increased from N485.4 million in 2011 to N544.64 million, reflecting increases in both existing staff remunerations and post-employment benefits to previous employees. Average cost per staff thus stood at N2.67 million in 2012 as against N2.01 million in 2011. However, average contribution of each employee to pre-tax profit dropped from N1.59 million to N1.04 million. Total cost of business spiralled upward to 97.6 per cent of total sales in 2012 as against 89.1 per cent recorded in 2011.

     

    Profitability

    Learn Africa witnessed a top-down decline in profitability during the year, a negative trend that trickled down to the balance sheet and net values of the company. Total turnover slipped by 0.3 per cent from N2.92 billion to N2.91 billion. With 9.4 per cent increase in cost of sales from N1.36 billion to N1.48 billion, gross profit dropped by 8.7 per cent from N1.57 billion to N1.43 billion. Total operating expenses also increased by 9.0 per cent from N1.25 billion to N1.36 billion. The midline was partly boosted by 124 per cent increase in non-core business incomes, which rose from N64 million to N143 million.

    With these, profit before tax slumped by 44 per cent to N213 million as against N383 million recorded in previous year. After taxes, net profit stood at N175 million, a decrease of 21 per cent from N221 million recorded in 2011. Consequently, earnings per share dropped from 29 kobo in 2011 to 23 kobo in 2012. The board of the company fully reflected the decline in net profit in dividend payouts, reducing dividends to shareholders by 20 per cent. Gross dividend reduced to N154 million in 2012 compared with N193 million distributed for the 2011 business year. Dividend per share thus decreased to 20 kobo as against 25 kobo paid in previous year. The company’s net assets per share also dipped to N4.64 in 2012 as against N4.66 in 2011. Besides, the future dividend outlook dimmed slightly with a dividend cover of 1.15 times as against 1.16 times in previous year.

    Underlying profitability ratios also showed a general weak performance. Gross profit margin dropped from 53.6 per cent in 2011 to 49.1 per cent. Profit before tax margin slumped to 7.3 per cent as against 13.1 per cent. Also, return on total assets nearly halved from 7.6 per cent to 4.6 per cent while return on equity dropped from 6.2 per cent to 4.9 per cent.

     

    Liquidity

    The liquidity position of the company improved considerably in 2012 with better financing coverage and steady working capital. Current ratio, which broadly indicates ability of the company to meet emerging financing needs by relating current assets to relative liabilities, increased from 3.31 times in 2011 to 4.11 times in 2012. The proportion of working capital to total sales stood at about 100 persons in 2012 as against 105.4 per cent in 2011. Debtors/creditors ratio stood at 480 per cent in 2012 as against 375 per cent in 2011.

     

    Governance & structures

    There were remarkable changes in the ownership and management of the company during the period. Pearson Education Limited and Longman Group (Overseas) Holding Limited, the foreign core investors in the company, then known as Longman Nigeria Plc, divested their shareholdings by freely distributing the shares to the Nigerian shareholders, thereby doubling their holdings. Pearson had 19.60 per cent while Longman had 31.40 per cent, totaling 51 per cent. The company, which thereafter changed its name to Learn Africa. Learn Africa, is now owned by more than 7,100 shareholders.

    Besides, erstwhile sales and marketing director, Mr. Segun Oladipo was appointed the managing director following the resignation of Mr. Fred Ijewere. The board also appointed two non-executive directors to the board. Meanwhile, Mr. Emeke Iwerebon remains chairman of the board of directors. The company generally complied with extant codes of corporate governance and best practices.

     

    Analyst’s opinion

    Learn Africa contended with several challenges in the period under review. Besides the immediate transition associated with the relinquishing of equity ownership by its foreign core investors, it faced many operational issues as the new company struggled to start on a new slate. Besides, the printing and publishing industry generally faces challenges of high costs and unethical practices by unscrupulous importers of sub-standard books. The dependence of the sector on government educational plan makes it susceptible to changes and delay in national budget, especially with recent decline in allocation to the education sector.

    While the board had assured that it had used the 2012 business year to resolve several challenges, emerging results show that the company remains on a shaky start. First quarter report for the period ended March 31, 2013 showed that turnover dropped by 79 per cent to N149.85 million in first quarter 2013 as against N700.53 million. As against modest profit of N7.32 million recorded in first quarter 2012, it posted a loss of N65.44 million within first three months of this year.

    Learn Africa will need to emplace a cost-efficient, sales-driven strategy to stabilise its domestic market and possibly explore other markets. A large top-line growth will provide better opportunity to manage costs and deliver a healthier bottom-line. The overall outlook of the company hangs on the strategic mix of sales growth and cost management.

     

     

     

     

     

  • P Square, 8 others  make TFA’s Africa  Young Person of  the Year list

    P Square, 8 others make TFA’s Africa Young Person of the Year list

    THE long list for the biggest youth award on the continent, the Young Person of the Year – The Africa Prize, has been unveiled by the Central Working Committee (CWC) of The Future Awards Africa with P Square and eight others listed.

    The Future Awards Africa which has been described by the World Bank as ‘The Nobel Prize for Young Africans’, partners with the African Union (AU) this year.

    The winner of this award will be announced at the awards ceremony to hold in August 2013, in addition, all the honourees will be given plaques.

    “We are extremely pleased with our honourees and the entire list presented by The Future Project this year, at every turn, these young African stars inspire us,” said Tonye Cole, Managing Director of Sahara Energy, who is a member of the Audit Committee for The Future Awards. “We are also extremely grateful to the African Union Commission for partnering with us this year.”

    The seventy-five (75) nominees for the other 15 categories of The Future Awards Africa 2013 were announced on the 10th of July, 2013.

  • Africa’s Next Top Model search begins

    Africa’s Next Top Model search begins

    OLUCHI ORLANDI (nee Onweagba) made Africans proud worldwide when she won the prestigious title for the model competition, “Mnet’s Face of Africa”, in 1998 which was organized by the South African subscription channel, Mnet, in collaboration with Elite Model Management which then awarded the natural beauty a three-year modelling contract that led to the beginning of whirlwind life as a highly-sought-after fashion model.

    With over a decade of experience in fashion, Oluchi has graced the covers of Italian Vogue, i-D, ELLE, Untold and Surface. She was also featured in Nylon, Marie Claire, Allure and other national editions of Vogue around the world and has served as the face of campaigns for Victoria’s Secret, Gianfranco Ferré, Gap, Express and Banana Republic to mention a few.

    Oluchi is a African fashion icon. In 2007, she launched a modelling agency in South Africa called O Model Africa with the Shine group, an agency dedicated to exposing, developing and delivering select portfolios of African models to South Africa and international clients for catwalk shows.

  • On ethics and leadership  in Africa (II)

    On ethics and leadership in Africa (II)

    General Ibrahim Babangida’s SAP which has since become entrenched as the country’s unofficial directive principles of state policy – the management of our political-economy since the return of civilian rule in 1999 with its ideology of deregulation, privatisation, liberalisation, retrenchment of the public sector, removal of subsidies, etc, is SAP in all but name – may have unleashed the entrepreneurial spirit of Nigerians but by the time he left office in August 1993 it had failed to deliver the goods.

    To make matter worse, General Sani Abacha, his minister of defence whom he had left behind in the interim government he set up under Chief Ernest Sonekan, following his inexplicable annulment of the presidential election of June 12 which was widely adjudged as free and fair, overthrew Sonekan in November 1993 and brought the military fully back into power once again. Ironically, Babangida had said he had left Abacha behind to rein in the soldiers and give Sonekan’s administration some teeth.

    For the next five years Abacha ruled the country with an iron-fist and headed what arguably became the most venal administration since independence – until President Olusegun Obasanjo came along in May 1999.

    When Abacha seized power in November 1993, he promised to be “brief” but, instructively, refused to be drawn on how brief. Five years later, he seemed to have eliminated, compromised or neutralised all opposition to what became his obvious agenda of transforming himself from a military dictator into an “elected” civilian president.

    In June 1998, he died a sudden and mysterious death. He was quickly succeeded by his Chief of Defence Staff, General Abdulsalami Abubakar. Abubakar promised a quick transition to civilian rule and kept his word; in May 1999 he handed over to General Obasanjo who had been released from a life sentence for his alleged involvement in a coup attempt against Abacha after which he was “persuaded” to become the presidential candidate of the Peoples Democratic Party (PDP), the largest of the three parties registered by the Abubakar regime. He handily won the election.

    As a critic of every administration since 1979 when he handed over power to President Shehu Shagari following his succession of General Murtala Muhammed who was assassinated in February 1976, Nigerians came to expect much from a civilianised President Obasanjo.

    Eight years and a failed attempt to extend his tenure beyond the two term limit later, Obasanjo dashed those expectations. Worse, he seemed to have surpassed those he had criticised in the venality his administration engaged in, as has been exposed by several National Assembly investigations of many of his policies and decisions.

    In those eight years his regime collected far more revenues, mostly oil, than all the regimes before his second coming combined. Yet the country’s decayed infrastructure – roads, electricity, schools, water, etc – over which he excoriated previous regimes, got worse. Meanwhile, a few Nigerians, including himself, had become stupendously rich.

    To appreciate the size of the gap between Obasanjo’s rhetoric and his deeds one needs only examine why the “African Renaissance” the great Nelson Mandela predicted in 1994 following the collapse of Apartheid in his native South Africa has failed to take off nearly twenty years hence.

    To give this “African Renaissance” a concrete form, Thabo Mbeki, South Africa’s second black president after Mandela, along with Obasanjo, Algeria’s Abdelaziz Bouteflika, Egypt’s Hosni Mubarak, and Senegal’s Abdoulaye Wade, initiated a New Partnership for African Development in 2001 which was supposed to engage Europe and America in a partnership that would jump-start Africa’s economic development.

    On its part, the rich world was to increase its aid to Africa and open up its borders for a more equitable trade with the continent. In return Africa was to eschew its dictatorial past and become more market-oriented.

    One of the things Africa did to prove its goodwill was to establish a Peer Review Mechanism in 2001 through which Africa leaders would subject each other to peer pressure to fight corruption and waste and tyranny on the continent. Obasanjo was a key figure in setting up the mechanism.

    Another thing the continent did in the same year was replace the Organisation of African Unity (OAU) which had degenerated into a mutual back-slapping talking shop, into African Union (AU) with a mandate to intervene in the affairs of its member states anytime the need arose. This was a critical break from OAU’s hitherto sacrosanct principle of non-interference in the internal affairs of member states by outsiders – a principle which allowed African leaders to treat their countries as private chattels. Again Obasanjo was a key player in this transformation.

    However, while he preached all these virtues abroad back home the man practised the opposite. For example, he set up various institutions to fight corruption and waste, but corruption only thrived because he used the institutions in a selective way to fight his perceived enemies, especially anyone who opposed his agenda of self-entrenchment, while simultaneously rewarding his supporters whatever their misdeeds.

    Again, while he preached democracy abroad, he eliminated internal democracy in his own party and tried to neutralise the opposition parties by planting fifth columnists in the ranks of their leadership to undermine their viability. Nationwide he installed what one of the many PDP party chairmen he whimsically hired and fired called “garrison democracy,” a democracy where dissent was regarded as treason.

    Tragically, Obasanjo was merely typical of the continental leaders in their attitude of preaching virtues abroad but mostly practicing vices at home.

    With such an attitude it is not surprising that Africa has remained the most backward region in the world. Obviously, if it is to have any hope of catching up with the rest of the world its leaders must learn to practice what they preach.

    Of course, this is easier said than done. For one thing, even though ethics, at least some, may be universal, they are open to interpretations. One man’s loyalty, for example, may be another’s disloyalty. Second, ethics may sometimes be in conflict with one another and one may have to choose one over another. Third, all too often we view leadership too narrowly through political prism as the man on top, whereas each one of us, as both the Qur’an and the Bible say, is a shepherd and we will have to account for our responsibilities in whatever role we play in society and at whatever level.

    All this notwithstanding, we simply have to make choices. And the mark of leadership is the ability to choose well in the most difficult times based on what is in the greatest interest of the greatest number.

    Personally given a choice among the many virtues leaders should posses, I will pick five as the most important. These are honesty, transparency, equity, justice and fairness, not necessarily in that order.

    In politics and economics, I will definitely put equity on top because inequity wastes talent and undermines social cohesion which in turn easily leads to, among other vices, the violent crimes and ethnic and religious conflicts that have bedevilled society every where on the continent.

    Inequity is when our “elected” leaders spend more money on their creature comforts than on the necessities of life in a country, like Nigeria, where more than half the population live on less than a dollar a day. Inequity, in a more concrete way, is when, for example, senior officials of a ministry spend over N2.7 billion in one year globe-trotting and the minister feels absolutely no remorse when confronted by the legislators that exercise oversight over his ministry. Instead, the minister, Chief Ojo Maduekwe, in charge of foreign affairs, would counter the legislators’ criticism by arguing that “diplomacy is all about visibility”.

    In short, unless Africa’s leaders eschew the vices of corruption, tyranny, waste, etc, and imbibe the virtues of honesty, transparency, equity, fairness, justice, etc, Africa will continue to remain the proverbial “dark continent,” literally as well as figuratively.

     

  • ‘Cost of malaria to Nigeria’s GDP is 6%’

    A Professor of Zoology at the University of Ilorin, Uade S. Ugbomoiko, has put the yearly cost of malaria to Nigeria’s Gross Domestic Product (GDP) at between one and six per cent.

    The economic costs of parasitic diseases are significant, creating an ugly development that has a heavy toll on productivity, Ugbomoiko said.

    Ugbomoiko, who spoke in Ilorin, Kwara State capital, while delivering the university’s 134th inaugural lecture, noted that foreign investment could reduce the GDP by as much as 20 per cent or more by the next decade in some sub-Saharan African countries.

    The lecture was entitled: “That we may lay siege.”

    He said: “In Sub-Saharan Africa, hundreds of millions of people are afflicted with these parasites, and more than a quarter of the affected population has one or more infections occurring simultaneously.

    “The advocated health for all by 2020 in the face of the government complacency and lack of funding, in an environment where the gap between the rich and poor widens daily is likely to be a mirage without concerted efforts to change behavioural activities that cause the bulk of human parasitic diseases.

    “It is high time the government saw the occurrence of ancient parasitic diseases in the present century as a social defect and formulate appropriate political will to address them. To achieve a qualitative and holistic control of these parasites, we must evolve a broad-based strategy that will combine good planning, policy consistency with a strong progressive refinement guidelines supported by strong framework for its implementation.

    According to him, technology and chemotherapic strategies in disease control will ameliorate the growing threats of infectious animals, but are unlikely to provide what is needed to control parasitic diseases in Africa.

    Said he: “Improving the health of the poor is therefore not through technology alone, but by ensuring that the basic needs of all are met through intervention that is emancipatory in action. Therefore, the option of behavioral change that will cost nothing to the government and the concerned individual will successfully complement disease control efforts.”

  • Falana: Obama hasn’t added value to Africa

    Falana: Obama hasn’t added value to Africa

    Lagos lawyer Femi Falana (SAN) has said American President Barack Obama’s current tour of three African countries has not added value to the continent.

    Obama is on tour of three African countries – Tanzania, Senegal and South Africa – to promote trade and development as well as deepen democracy on the continent.

    The US President also met with some young African leaders, entrepreneurs and activists at various Town Hall meetings in Dakar and Cape Town, where he motivated the future African leaders to take their destiny in their hands.

    But Falana noted that the Obama administration has not added anything to the policies he inherited from the Bill Clinton and George W. Bush administrations. The frontline lawyer criticised the American President for lacking commitment to arrest capital flight from African countries to the West and other parts of the world.

    He noted that this would have guaranteed the development of Africa.

    Falana described Obama’s African perspective as reactionary.

    He said the protests, which greeted him in South Africa, were justified.

    Falana added: “It is symbolic that the first African American President is being challenged in Africa for not fulfilling his promise to stop the United States’ Government from violating the human rights of oppressed people all over the world.”