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German Based Gambian Singer Release New Single ‘Always there’
February 14, 2020 | 0 Comments

By Bakary Ceesay

Jarck Boy, Germany-based Gambian reggae-dancehall artiste has release a new song called ‘Always there’ as part of his new Extended Play, EP called Ghetto Defender.

The EP will contain six tracks and so far two tracks have been recorded at Chosan Bi Records. The two tracks are ‘Gambia kankiling’ with a video making waves now in various TV stations and online platforms and ‘always there’

Jarck Boy explained that The ‘Gambia kankiling’ song depicts that Gambians should come together despite our political, religious and tribal difference to move the country forward for the betterment of all.

He added that the second song ‘Always There’ is a love song depict then men’s should always be there for their loves ones like wife, finance and girlfriends.

According to him, the EP will also talks about youths in the ghetto their plights to stardom by inspiring and encouragement them to stand firm to live in a descent life in society.

He promised to release more videos from the EP. “After releasing my new reggae album from FULL100 MUSIC Label, am very   busy in the studio again working on his upcoming EP this year again. 2020 still alive. Jah mission continues to uplift and spread the divine love and unity, watch out for another conscious hit,” he said.

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Gambia’s Afro-pop Sensational artiste Wins Four Awards at WahSahlat Music Awards
February 14, 2020 | 0 Comments

By Bakary Ceesay

Jizzle with his awards

Jizzle, Gambia’s afro-pop singer is the big winner at WahSahlat music Awards Gambia recently at a local hotel.

 Jizzle received four awards; Artist of the Year, Song of the Year for Turn by Turn on his Finally Album, Video of the Year with Nobles for Killer, and Afrofusion Artist of the Year.

The annual WahSahlat music Awards Gambia is usually organised by Brand Plus to reward artistes, producers, video directors and entertainment journalists.

 “I feel good about it, it’s just a great feeling you know. I believe that I got all of those awards because of the hard work and dedication that I put in my music, through-out these years. So I am really honored and send a big thanks to all the fans and supporters that voted and believed in me,” expresses Jizzle.

He continues, “The fans are always there for me making sure that Jizzle is up there. I feel so happy, so blessed. A lot of work will be done for this year and every other year, Man of Every Year, you know.”

After dominating the music scene all year, with Jizzle’s music being heard all over the country, Team Jizzle and Jizzle Kingdom are humbled to get recognition for the hard work that they have put into promoting and marketing the music.”

 Jizzle has been in such great demand that even after his successful stadium show in November; the holidays found him performing all over the country and currently he is on a nation-wide tour. Overjoyed by his awards, he is planning a youth family fun day and concert on April 18th 2020.

It will be day of laughter and music just for the children and their families who make up a large fan base for the artist. Jizzle also congratulates his fellow honorees and beams at the idea that together they are making Gambian music a strong international force representing the people and the culture. Jizzle is really excited about 2020; it will be an excellent year.

Jizzle's Awards

 He has many surprises in store for his fans including his Scorpion Extended Play, EP coming out March 6th. He has been crossing into mainstream markets and is ready to go out into the world and perform for his fans in other places.”

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In Cameroon, new seed varieties help cocoa crops bloom and farmers thrive
February 14, 2020 | 0 Comments

Antoine Mani Tonye sinks his thumb into the red soil to gauge how deep to plant the next seedling. The Cameroonian cocoa farmer has seen healthy yields and an improvement in his income since he began planting a locally adapted seed variety developed in a laboratory in the capital Yaounde.

“In its first year, my nursery has been the best. This should get me out of poverty,” said Tonye, who farms his own plot in the village of Azanzoa on the outskirts of Mbalmayo in central Cameroon.

“For now, I am doing better, I don’t beg, I do my best, I manage to get by on my own. Farming is going to become my passion.”

There are 600,000 cocoa farmers across Cameroon, and it is a vital sector for rural communities. But cocoa is a fragile crop with yields that tend to decrease over time, putting farmers’ livelihoods at risk. That’s why the African Development Bank has committed to provide funding to IRAD, the Institute of Agriculture Research for Development, where research is focused on creating adapted seed varieties.

The second-generation seed varieties developed by IRAD allow for an average yield of 2 tons per hectare, compared to the first generation developed in the 1970s and 1980s that produced around 1 ton per hectare.

“There has been great progress. In less than two decades, we have been able to double the yield potential of the varieties that farmers now use,” said Bruno Efombagen, an IRAD researcher in Yaounde.

Demand for the higher-yielding seeds has outstripped supply. To solve this problem, the African Development Bank has supported IRAD in its efforts to make the seeds accessible to a greater number of farmers. Across the country, IRAD is setting up more and more seed production fields.

A new seed variety called “Brazilian cacao” is now widely in use, providing far better yields to Cameroonian farmers.

“Before, our parents used to grow a variety called “tout-venant”, but today, thanks to advances in research, we have access to improved seeds,” said Samba MViena, Chairman of AKOM-COOP-CA, a cooperative of farmers.  “You get the first yields 18 months after planting them, with flowers and a few pods on some stems. After two or two-and-a-half years, or more precisely three years, you can already get a perfect crop.”

The higher-quality cocoa seed varieties have helped to stem the migration of young people from rural villages to seek work in the city. MViena’s cooperative has strong youth representation, with 62 young people in the group.

“Their decision to engage in the cacao sector stems from the availability of improved seeds, because these seeds allow for quick and bountiful harvests,” he said.

Brazilian cacao not only provides far better yields to Cameroonian farmers, it benefits everyone in the production chain. Trader Yannick Fosso buys cocoa from across the region and sells it in Cameroon’s economic capital, Douala.

“The season runs from August to January. I make all my year’s earnings during those six months,” he explained. “When you look at the plants, you can see that Brazilian cacao is a better variety than the ones that our parents used to grow. Its colour is much brighter; the pods never get black, they are entirely red. So when you brew it, it comes out with a very good colour and taste.”

Cocoa is Cameroon’s second export crop. The majority of the Central African nation’s annual output of about 220,000 tons is shipped overseas from Douala’s Atlantic port.

For Fosso, part of the pride he takes in his work is in Cameroon’s improving reputation as a cocoa exporter. “Cacao is a central part of the lives of the people here,” he said. “It’s rewarding to buy something that is eaten across the world.”

*Source AFDB

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On the Kenya-Tanzania border, the African Development Bank eases trade with One Stop Border Post
February 14, 2020 | 0 Comments

On the border between Tanzania and Kenya sits Namanga, a town of 16,000 residents where cross-border trade has thrived thanks to investment in a One Stop Border Post (OSBP).

In 2007, the African Development Bank provided financing of $108 million to Kenya and $77 million to Tanzania with the objective of easing the flow of people and goods across the East African frontier through road improvements and the construction of a OSBP.

The facility, located between Tanzania’s Longido District and Kenya’s Kajiado County, has contributed to improving trade and tourism on both sides of the border and is aligned to one of  the Bank’s “High 5” strategic priorities: Integrating Africa.

Naftali Elhudi Mzota, a bus driver who works for Impala Shuttles in Kenya, has been using the border crossing for 23 years.

“Previously, with the two borders, you had to go through customs and immigration in Tanzania, and then back to Kenya. It could take up to two hours,” he explained.

Now people from Tanzania and Kenya are able to move back and forth across the border much more quickly – a boost to the town of Namanga which derives much of its income from tourism.

Many tourists pass through this border crossing to visit the nearby Amboseli National Park. In the past, access was difficult, but with the financial support from the African Development Bank, up to 242 km of roads around the border town have now been upgraded.

“Before, the road was full of potholes,” Mzota recalled. “You couldn’t make the round trip to Nairobi and back in one day. Having a new road has changed everything.”

Edward Wilson Lyimo has owned a hotel for more than 20 years in Namanga, on the Tanzanian side of the border: “Thanks to this new border, road traffic has increased, businesses have become profitable. This border crossing has been very beneficial to us, we can now trade in both countries,” he said.

The OSBP project aimed to speed up movement across the border and facilitate trade, said Kenneth Bagamuhunda, Director General of Customs and Trade of the East African Community.

“It was a challenge, he acknowledged. “Now it takes about 30 minutes to cross the border. We have a very good relationship with the African Development Bank. They have supported us in the renovation of the infrastructure. Today, we have 10 single-stop border crossings. We are going to duplicate this initiative on other borders, such as the border with Ethiopia, the Democratic Republic of Congo and Zambia.”

Sarah Keiya, who has been selling souvenirs to tourists for 10 years in Namanga, has benefited from the new border arrangements.

“Before, we didn’t make good money,” she said. “We were afraid to move around, we were afraid to approach tourists. Now we see them as friends. They are our family and they buy products from us. Since the border post was built, we are respected. We manage to finance our children’s education.”

The single-stop crossing at Namanga has been used to develop infrastructure around the border and improve conditions for the movement of people and goods – a model that will be replicated elsewhere. “This was one of our key objectives,” said Kenneth Ogoga, Kenya’s immigration officer.

*Source AFDB

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African Development Bank Rebuts World Bank President’s comments on Africa’s debt profile
February 14, 2020 | 0 Comments

For the record, the African Development Bank maintains a very high global standard of transparency says AFDB President Akinwumi  Adesina
For the record, the African Development Bank maintains a very high global standard of transparency says AFDB President Akinwumi Adesina

In several news reports, World Bank President David Malpass was recently quoted as saying some Multilateral Development Banks, including the African Development Bank, have a tendency to lend too quickly and in the process, add to the continent’s debt problems.

This statement is inaccurate and not fact based. It impugns the integrity of the African Development Bank, undermines our governance systems, and incorrectly insinuates that we operate under different standards from the World Bank. The very notion goes against the spirit of multilateralism and our collaborative work.

For the record, the African Development Bank maintains a very high global standard of transparency. In the 2018 Publish What You Fund report, our institution was ranked the 4th most transparent institution, globally.

The African Development Bank provides a strong governance program for our regional member countries that focuses on public financial management, better and transparent natural resources management, sustainable and transparent debt management and domestic resource mobilization. We have spearheaded the issuance of local currency financing to several countries to mitigate the impacts of foreign exchange risks, while supporting countries to improve tax collection and tax administration, and leveraging pension funds and sovereign wealth funds to direct more monies into financing development programs, especially infrastructure.

The African Development Bank’s Africa Legal Support Facility (ALSF) supports countries to negotiate terms of their royalties and taxes to international companies, and terms of their non-concessional loans to some bilateral financiers. We have been highly successful in doing so.

These are the facts:

The World Bank, with a more substantial balance sheet, has significantly larger operations in Africa than the African Development Bank. The World Bank’s operations approved for Africa in the 2018 fiscal year amounted to US $20.2 billion, compared to US $10.1 billion by the African Development Bank.

With regard to Nigeria and South Africa, the World Bank’s outstanding loans for the 2018 fiscal year to both countries stood at US $8.3 billion and US $2.4 billion, respectively. In contrast, the outstanding amounts for the African Development Bank Group to Nigeria and South Africa were US $2.1 billion and US $2.0 billion, respectively, for the same fiscal year.

With reference to the countries described as “heavily indebted,” our Bank recognizes and closely monitors the upward debt trend. However, there is no systemic risk of debt distress.

According to the 2020 African Economic Outlook, at the end of June 2019, total public debt in Nigeria amounted to $83.9 billion, 14.6% higher than the year before. That debt represented 20.1% of GDP, up from 17.5% in 2018. Of the total public debt, domestic public debt amounted to $56.7 billion while external public debt was $27.2 billion (representing 32.4% of total public debt). South Africa’s national government debt was estimated at 55.6% of GDP in 2019, up from 52.7% in 2018. South Africa raises most of its funding domestically, with external public debt accounting for only 6.3% of the country’s GDP.

Development Banks continue to play critical roles in development efforts and in the aspirations of developing countries, most especially in Africa.

Given substantial financing needs on the African continent, the development assistance of the African Development Bank, the World Bank and other development partners remain vitally important, with increasing calls for such institutions to do even more.

The lending, policy, and advisory services of these development institutions in their respective regions are often coordinated and provide substantially better value-for-money to developing nations, compared to other sources of financing. As a result of the African Development Bank’s AAA-rated status, we source funding on highly competitive terms and pass on favorable terms to our regional member countries. Combined with other measures to ensure funds are used for intended purposes, it helps regional member countries finance debt and development in the most responsible and sustainable way.

With regard to the need for better lending coordination and the maintenance of high standards of transparency, the African Development Bank coordinates lending activities, especially its public sector policy-based loans, closely with sister International Financial Institutions (notably the World Bank and the IMF). This includes reliance on the IMF and World Bank’s Debt Sustainability Analyses (DSA) to determine the composition of our financial assistance to low-income countries; and joint institutional approaches for addressing debt vulnerabilities in the African Development Fund (ADF) and International Development Association (IDA) countries.

In addition, country economists of the African Development Bank fully participate in regional and country level IMF Article 4 missions. Contrary to suggestions, these are just a few concrete examples of historic and ongoing coordination between sister Multilateral Development Banks, IFIs, and development partners. The African Development Bank is committed to the development of the African continent. It has a vested interest in closely monitoring debt drivers and trends in African countries as it supports them in their efforts to improve the lives of the people of Africa.

We are of the view that the World Bank could have explored other available platforms to discuss debt concerns among Multilateral Development Banks. The general statement by the President of the World Bank Group insinuating that the African Development Bank contributes to Africa’s debt problem and that it has lower standards of lending is simply put: misleading and inaccurate.


Citations and Sources

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Gambia Should Learn from Nigeria’s Success in Democracy
February 13, 2020 | 0 Comments

By Bakary Ceesay

President Adama Barrow has said that The Gambia should learn from Nigeria’s success in transitioning from military rule to a vibrant democracy through building of strong institutions and depoliticising the military.

The President made these remarks at the State House on Monday, when participants from Course 28 at the National Defence College in Abuja, Nigeria, paid a courtesy call on him.

The Course 28 group is on a research based mission in Banjul, on the theme: Tourism and National Development – Experiences of The Gambia.

“Africa should learn from Nigeria and The Gambia should learn from Nigeria’s success in transitioning from military rule to democracy. Nigeria has succeeded in building a great democracy through building strong institutions and depoliticising the military,” President Barrow told the delegation, citing on the mutual experience sharing in the trip.

For The Gambia, the Barrow government’s pursuit of the security sector reform includes the establishment of Ministry of Defence, which for the first time is operating independent of the Head of State and Commander in Chief of the Armed Forces.

The Gambian Leader said the diversity of the corps of participants in this apex military training institution for the Nigerian Armed Forces, reflects a steady approach to integration of the continent.

The Gambia’s Minister of Defence, Sheikh Omar Faye said the military support from Nigeria to The Gambia dates a long time in history. He lauded the recent intervention of the Federal Republic of Nigeria in resolving the Gambia’s political crisis in December 2016.

Minister Faye said it is not just a policy of the government but also a personal principle of President Barrow to put peace and stability at the heart of Gambia’s national development endeavours.

Chief of Defence Staff, Lieutenant General Massaneh Kinteh reiterated that Nigeria’s transitioning from military rule to a vibrant democracy has become a reference point for governance. Such a lesson formed the basis for The Gambia Armed Forces’ policy of “keeping the Army out of politics and politics out of the Army.”

As a Centre of Excellence, the National Defence College brings together representatives from countries in the West, East, North and Southern Africa.

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Government of Democratic Republic of the Congo and General Electric Sign Infrastructure Agreement
February 13, 2020 | 0 Comments
George Njenga, CEO for GE Renewable Energy (Grid & Hydro) SSA with DRC’s Minister of Hydraulic Resources and Electricity, Hon. Eustache Muhanzi Mubembe and the Minister of Health, Hon. Dr Eteni Longondo during the signing ceremony
George Njenga, CEO for GE Renewable Energy (Grid & Hydro) SSA with DRC’s Minister of Hydraulic Resources and Electricity, Hon. Eustache Muhanzi Mubembe and the Minister of Health, Hon. Dr Eteni Longondo during the signing ceremony
The 3-year MoU seeks to accelerate the economic and social development of the country

KINSHASA, Democratic Republic of Congo, February 13, 2020/ — The Government of the Democratic Republic of the Congo (DRC) and General Electric (NYSE: GE) (www.GE.com) have announced signing of a Memorandum of Understanding (MoU) in infrastructure projects enabling the increase in the supply of electric energy and health modernization programs. The 3-year MoU seeks to accelerate the economic and social development of the country.

Under the MoU, GE will work with the government to explore power solutions that will increase electricity to the country’s grid to benefit thousands of households. GE will also work with the ministry of health for the modernization of the country’s health system at the primary, secondary and tertiary levels as well as the infrastructures and equipment for maternal and child health, cardiology, and oncology. The partnership will also focus on training and capacity building of local talent for the sustainability of the initiatives.

Speaking about the signing, GE Africa President and CEO Mr. Farid Fezoua said, “Partnership with governments and local companies form a very important part of GE’s growth in Africa, and  we are honoured today to collaborate with the government of the DRC as a key strategic partner for the country’s long-term development agenda. This gives us the opportunity to deliver innovative solutions to meet the unmet demand for the millions of citizens without electricity and those without access to quality healthcare.”

GE is currently involved in the rehabilitation of Inga IIB power plant and of Nseke Power Plant in the DRC and has successfully implemented renovation projects with the 1st interventional Cardiology and CT Scanner with 128 systems installed at the HJ Hospital and new imaging center of Camp Kokolo. In the past, GE Healthcare also led the installation of the Scanner 16 slices at Panzi Hospital, giving thousands of citizens access to the latest diagnostic solutions. 

GE first started operating in Sub-Saharan Africa over 120 years ago and in 2011 renewed its focus to meet Africa’s current and future needs. The company has signed MOUs with the Governments of several countries such as Nigeria, Kenya, Angola, Ghana and now the DRC to develop infrastructure projects, including sustainable energy solutions as well as improving access to quality healthcare. These MOUs involve significant investments in creating jobs and human capital development.

GE (www.GE.com) drives the world forward by tackling its biggest challenges: Energy, health, transportation—the essentials of modern life. By combining world class engineering with software and analytics, GE helps the world work more efficiently, reliably, and safely. For more than 125 years, GE has invented the future of industry, and today it leads new paradigms in additive manufacturing, materials science, and data analytics. GE people are global, diverse and dedicated, operating with the highest integrity and passion to fulfill GE’s mission and deliver for our customers.

*SOURCE GE
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IHRDA Sues Gambia Before African Court On Violation Of Citizens’ Freedom Of Assembly, Expression
February 13, 2020 | 0 Comments

By Bakary Ceesay

President Adama Barrow.Photo credit Valery Sharifulin\TASS via Getty Images

The Institute for Human Rights and Development in Africa (IHRDA) and two Gambian lawyers on 22 January 2020 filed a lawsuit against The Gambia before the African Court on Human and Peoples’ Rights, on behalf of seven Gambians, concerning the violation of citizens’ right to freedom of assembly and expression.

The seven Gambians include journalists, human rights activists and business people, who are basing on the actio popularis principle allowing individuals and organisations to bring communications on behalf of the general public.

The plaintiffs allege that The Gambia’s Public Order Act, enacted to prohibit association of private persons with military aims and for the maintenance of public order as regards public processions, upholds standards that are in violation of citizens’ right to freedom of expression (Article 9 (2)), freedom of association (Article 10), and freedom of assembly (Article 11).

The plaintiffs argue that section 5 (2) of the Act, which compels citizens apply for a licence from the Inspector-General of Police (IGP) or the Governor of the region concerned before organising any public procession, gives a lot of unilateral and discretionary powers to the said authorities, who can grant or reject the application as they deem fit, whereas there is no mechanism in place to allow for a review of their decisions.

More-so, section 5 (4) of the Act grants that a magistrate or police officer above the rank of sub-Inspector can stop any public procession where a license has not been issued or where the procession violates any of the conditions under which licence was given. Such assembly is considered as unlawful and all persons taking part can be charged with an offence liable to imprisonment and/or fine. Consequently, several recent attempts of peaceful protests, which apparently did not meet the provisions of the said Act, have been brutally repressed by forces of law and order, leading to public violence, destruction of property, injuries, arrests, detention and even death.

In May 2018, members of a political party, including one of the plaintiffs in this present suit, filed a petition at the Supreme Court of The Gambia challenging the constitutionality of section 5 of the Act, which they said was in contravention of the right to freedom of speech and expression, freedom to assemble and demonstrate peaceably without arms, and freedom to move freely within The Gambia, guaranteed under section 25 of the Gambian 1997 Constitution. The Court held that the said restrictions on the exercise of these rights were reasonable, constitutionally legitimate, permissible and justifiable in any democratic society.

The plaintiffs argue that the rights alleged to be violated are equally enshrined in the African Charter on Human and Peoples’ Rights and the International Covenant on Civil and Political Rights, to which The Gambia is party.

The plaintiffs request the Court to declare that Section 5 of the Public Order Act of The Gambia violates the right to freedom of assembly and expression; and that The Gambia violated the plaintiffs’ rights to freedom of assembly and expression in its disbandment and repression of some recent peaceful demonstrations. The plaintiffs also request the Court to order The Gambia to immediately repeal or amend Section 5 of the Act to align with international standards applicable to The Gambia.

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Senegal Makes Energy a Priority in 2020, Launches Official National Event
February 13, 2020 | 0 Comments
Africa Oil & Power is organizing the nation’s official energy event, Senegal Oil & Power 2020, with the support of the Ministry of Petroleum and Energy

DAKAR, Senegal, February 13, 2020/ — Senegal will launch key projects and encourage new momentum in 2020, representing the vision of H.E. President Macky Sall and the government to make energy a foundation for growth; Africa Oil & Power (www.AfricaOilandPower.com) is organizing the nation’s official energy event, Senegal Oil & Power 2020, with the support of the Ministry of Petroleum and Energy; The government and organizer invite global investors to Dakar on May 27-28 to meet with key players and explore new projects.

Senegal is offering oil and gas blocks to global explorers in its 2020 licensing round, open its first utility-scale wind farm and make progress on key oil and gas projects in 2020. The government and organizer Africa Oil & Power invite local, regional and international investors to the first annual Senegal Oil & Power event, to take place on 27-28 May 2020 at the Abdou Diouf International Conference Center (CICAD) in Dakar.

Supported by the Ministry of Petroleum and Energy, Senegal Oil & Power 2020 unites the energy sector at Senegal’s official oil, gas and power event. The conference is accompanied by the second edition of an investor guide titled Africa Energy Series: Senegal 2020 to be released later in the year.

“Senegal Oil & Power and the Africa Energy Series report are the national platform to promote Senegal’s voice in the international energy sector. These initiatives show how important energy is in the nation’s economic emergence,” said James Chester, Acting CEO of organizer Africa Oil & Power. “Senegal is no longer an exploration hotspot, it is at the center of a proven and prolific oil and gas province. There are few places in Africa that offer such a stable and secure investment environment, with long term government vision and support for a wide range of energy activities.”

Senegal Oil & Power is the sole event in Senegal with full government support that opens up national and regional opportunities across the entire value chain – not just in oil and gas. The 2020 program presents leaders and projects representing the full spectrum of energy activities, from oil and gas exploration to local goods and service provision, infrastructure, finance and power production and distribution.

The theme of the conference is “A New Wave of Investment”, reflecting the investment-led vision of H.E. President Macky Sall and Senegal’s agenda to develop the economy on a foundation of a diversified energy sector. Eight oil and gas discoveries have been made since 2014 and in 2022, first oil will be produced from the Sangomar oilfield and first gas from BP’s Greater Tortue Ahmeyim (GTA) LNG project. 2020 is due to be a big year in Senegal’s energy sector: The government will present oil and gas licenses in a global roadshow as part of the 2020 licensing round; Lekela Power’s PETN wind farm will provide 2 million people with power from next year; key progress will be made on the GTA project with McDermott completing fabrication of the subsea production system; and Halliburton will begin drilling and completion services at the close of 2020 for production at Sangomar, which received FID in January.

Senegal Oil & Power 2020 brings the spotlight to the next wave of investment decisions and projects in 2020 and beyond, including gas to power initiatives, and also looking at Senegal’s neighbors Mauritania, Gambia, Guinea-Bissau and Guinea.
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Ghana:President Akufo-Addo Named “Champion Of The African Union Financial Institutions
February 13, 2020 | 0 Comments

The 33rd Ordinary Session of the Assembly of Heads of State and Governments of the African Union has appointed President Akufo-Addo as “Champion of the African Union Financial Institutions.”

The decision of the Assembly was made on Monday, 10th February, 2020, in Addis Ababa, Ethiopia, by the Chairperson of the AU, His Excellency Cyril Ramaphosa, President of the Republic of South Africa.

The creation of African Union Financial Institutions is one of the flagship projects of Agenda 2063, aiming at accelerating integration and socio-economic development of the continent.

The agreed timeframes in the first 10-Year Plan of Agenda 2063 were for the African Investment Bank and Pan African Stock Exchange to be established by 2016; the African Monetary Fund by 2018; and the African Central Bank and Single African Currency by 2034. 

Whilst thanking the Assembly for the honour of the appointment, President Akufo-Addo stated that the “establishment of the AU Financial Institutions has always been at the centre of our agenda for continental integration, and that is why, over the years, we have adopted a treaty and several legal instruments to that effect.”

Currently, only twenty-two (22) Member States have signed the African Investment Bank (AIB) charter, with only 6 ratifications obtained, whilst twelve (12) countries have signed the African Monetary Fund charter, with only one (1) ratification.

At least, nine (9) more countries are needed to ratify the AIB charter for it to enter into force, and, in the case of the African Monetary Fund, fourteen (14) ratifications.

“The task to ensure these are done will be one of my immediate priorities. I will see to it that Ghana ratifies these charters promptly upon my return to Accra,” the President said.

He continued, “the establishment of the African Union Financial Institutions is critical for not only enhancing resource mobilization on the continent, but also for providing the necessary impetus for growth and jobs creation. Their establishment are crucial for the effective implementation of the African Continental Free Trade Area (AfCFTA), and for achieving Agenda 2063: ‘The Africa We Want’. Financing our own development agenda remains our primary goal, and will require bold commitments from us.”

Amongst others, President Akufo-Addo pledged to ensure the prompt ratification of the various charters establishing the Financial Institutions; help take, under the direction of the Assembly, all necessary steps to facilitate the creation of the continental financial architecture essential for the realisation of AU Agenda 2063 and the integration process of the continent; and work with the host countries, i.e. the Republic of Cameroon for the African Monetary Fund, the Federal Republic of Nigeria for the African Central Bank, and Libya for the African Investment Bank towards their establishments.

Background

The Article 19 of the Constitutive Act of the African Union provides for the creation of three institutions namely the African Central Bank, the African Monetary Fund and the African Investment Bank. Furthermore, in January 2006, in Khartoum, Sudan, the Commission was requested by the Assembly of the African Union (Assembly/AU/Dec.109), to conduct a feasibility study on the creation of a Pan-African Stock Exchange (PASE). The three financial institutions and the PASE, constitute the African Union Financial Institutions (AUFIs).

In January 2005, the Assembly decided, in Abuja, Nigeria, decision No. Assembly/AU/Dec.64 (IV), that the African Central Bank should be located in West Africa, the African Investment Bank in North Africa, and the African Monetary Fund in Central Africa. Following this decision, the Northern Region decided that the African Investment Bank should be located in Libya, the Central Region designated Cameroon as the host country of the African Monetary Fund, while the Western Region designated the Federal Republic of Nigeria as the host country for the African Central Bank.

Source: Presidency of Ghana 

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STATE OF THE NATION: Buhari tasks youth to help stabilize Nigeria
February 13, 2020 | 0 Comments

By Olayinka Ajayi

Nigeria’s President Muhammadu Buhari has urged youth to cooperate with the government. 

The president said this on Wednesday during a condolence visit to Borno state where about 30 people were killed by suspected Boko Haram insurgents on Sunday. 

Buhari said the youth are a larger part of the country’s population and must help the government stabilise the country. 

“We have young aggressive youths, the Nigerian youths. Our population, 60 percent, is below 30 years old,” he said. 

“And we have to remind them that they must help us stabilise this country so that they can have a better future. If they don’t cooperate with the government, they are endangering their future.

“I am already 77, how many years do I expect under normal circumstances?”

Buhari also said he wondered how Boko Haram survived to date. 

“As commander in chief, I campaigned both in 2015 and last year on three fundamental issues which include security; you cannot preside over an institution or a country if it is not secure. This is just common sense, everybody knows this even those that have not gone to school know this,” he said. 

“This Boko Haram or whatever they are, cannot come up to Maiduguri or environs without the local leadership knowing because traditionally the local leadership is in charge of security in their own respective areas. So with my understanding of our culture, I wonder how Boko Haram survives up till now.

“We are working for you in this country. As commander in chief, I am dealing with the security institutions and I believe there is an improvement in security. 

“I urge the people of the state to cooperate with with the law enforcement agencies and let us deny Boko Haram access to our loyal citizens and encourage displace people to go back to the land.”

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Court grant Nigerian Journalist bail after 174 days
February 13, 2020 | 0 Comments

By Olayinka Ajayi

Publisher of Cross River Watch Agba Jalingo
Publisher of Cross River Watch Agba Jalingo,

A Nigeria federal high court in Calabar, Cross River state, has granted the publisher of CrossRiverWatch Agba Jalingo, bail in the sum of N10million after 174 days.

The journalist who spent 174 days in detention before he was granted bail was first arraigned on August 22, 2019 after he published a story on how Ben Ayade, governor of Cross River, allegedly approved and diverted N500 million meant for the state’s microfinance bank.

Jalingo was charged with conspiracy, terrorism, treasonable felony and an attempt to topple the state government.

On Thursday, Sule Shuaibu, the judge, granted the journalist N10 million bail, following an application from Attah Ochinke, his lawyer.

The court ruled that those standing as surety for the journalist would make a refundable deposit of N700,000 to the court registry to perfect the bail.

Jalingo was earlier denied bail on two occasions by Simon Amobeda, another judge, who was caught in a leak audio saying the journalist’s life was in his hands.

After the recording was made public, Jalingo asked the chief judge of the federal high court to reassign his case.

Amobeda later recused himself from the matter following allegations of a lack of fair trial by the journalist.

Ayade denied involvement in the trial of Jalingo, but said the federal government was behind the journalist’s case over his involvement in the #RevolutionNow protest by Omoyele Sowore.

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