Somalia Clears Arrears to World Bank Group Bank Group
March 6, 2020 | 0 Comments
WASHINGTON, March 5, 2020 –The Federal Government of Somalia today cleared its arrears to the International Development Association (IDA), completing the process of normalizing its financial relationship with the World Bank Group. With this clearance, Somalia has fully re-established its access to new resources from IDA and paved the way to receive debt relief under the Heavily Indebted Poor Country (HIPC) and Multilateral Debt Relief Initiative (MDRI) to promote growth and recovery over the coming years.
“I congratulate the Federal Government on reaching this critical milestone that will allow Somalia to access the strongest possible support from the World Bank Group to improve peoples’ lives,” said Axel van Trotsenburg, World Bank Managing Director of Operations. “This lays the foundations for long term economic and social recovery. I would also like to thank the Government of Norway for its generosity in facilitating the arrears clearance process.”
The payment of these arrears was made possible through a $365.9 million bridge loan from the Norwegian government. This effort is part of a comprehensive plan for arrears clearance that also includes the International Monetary Fund (IMF) and the African Development Bank. “I am pleased that Norway is contributing in a smart and constructive way to Somalia’s efforts to reengage with the international community, clear arrears and restore access to concessional funding from IDA. I am also pleased that this important step paves the way for Somalia to receive deep relief on its remaining debt,” said Ine Eriksen Søreide, Minister of Foreign Affairs of Norway.The clearance of IDA’s arrears is an opportunity to lock in Somalia’s turnaround. “As we enter this new course, we look forward to strengthening our collaboration with the World Bank Group and building on the pillars we have laid so far to boost the economy and bring prosperity to our people,” said H.E.M. Abdirahman D. Beileh, Minister of Finance of the Federal Republic of Somalia.“We are also grateful to the support from Norway which enabled us to clear arrears with IDA.”
In a meeting of the Bank’s Board last week, Executive Directors expressed support for the government’s strong record of fiscal, political, social and economic reforms in recent years which enabled Somalia to reach this major milestone. They noted their expectation that in addition to accessing new IDA resources, Somalia would also work with the International Finance Corporation (IFC) and the Multilateral Investment Guarantee Agency (MIGA) to support the development of its private sector.
The International Development Association (IDA) is one of the largest sources of funding for fighting extreme poverty in the world’s poorest countries. IDA provides zero- or low-interest loans and grants to countries for projects and programs that boost economic growth, build resilience, and improve the lives of poor people around the world. Since 1960, IDA has provided more than $391 billion for investments in 113 countries. As an institution of the World Bank Group, IDA combines global expertise with an exclusive focus on reducing poverty and boosting prosperity in the world’s poorest countries.
*Source World Bank
The EurAfrican Forum in search for a common ground between Europe and Africa
March 4, 2020 | 0 Comments
2020 edition will look for new opportunities for both continents as it unveils its theme In Search for a Common Ground
CASCAIS, Portugal, March 3, 2020/ — The 3rd edition of the EurAfrican Forum (www.EurAfricanForum.org) to be held on July 2nd and 3rd in Cascais, Portugal will be gathering over 700 European and African key actors from more than 60 countries; 2020 edition will look for new opportunities for both continents as it unveils its theme In Search for a Common Ground; The program will focus on key topics as Africa and Europe relations, Free Trade Agreements, Climate Change, African Arts and Culture, Infrastructure, Connectivity and Off-grid solutions.
The annual meeting will gather over 700 African and European changemakers such as entrepreneurs, artists, activists, public and private decision leaders, in Cascais, Portugal, on July 2nd and 3rd 2020.
“It is now time to establish a structured cooperation between Africa and Europe, engaging not only public decision makers but creating a denser network, embarking in the discussions entrepreneurs, young people, women, artists, scientists…” José Manuel Durão Barroso, Chairman of the EurAfrican Forum.
Hosted by the Portuguese Diaspora Council and the Municipality of Cascais, with the High Patronage of the Portuguese Presidency, this third consecutive edition will focus on main issues such Africa and Europe relations, Free Trade Agreements, Climate Change, the influence of African Arts and Culture, Infrastructure, Connectivity and Off-grid solutions, under the theme In Search for a Common Ground.
“2020 is a pivotal year for Europe and Africa as this new decade marks the unavoidable collaboration between our continents at a time when climate change, demographic challenges and the technologic revolution are central pieces of Africa and Europe’s sustainable development puzzle”, said Filipe de Botton, Chairman of the Board of the Portuguese Diaspora Council.
As Europe and Africa face common challenges, the EurAfrican Forum exists as a platform to work on future partnerships for sustainable solutions. Exploiting synergies and promoting business opportunities with mutual benefits, the event will be sharing initiatives, in search for a common ground.
About the Portuguese Diaspora Council:
The Portuguese Diaspora Council is a non-profit private association, recognized in 2019 as a non-governmental organization for development. Founded in 2012, its main purpose is to enhance Portugal’s brand and international reputation involving the Portuguese diaspora of proven influence who have distinguished themselves in their field of expertise, namely in Culture, Citizenship, Science and Economics. The “World Portuguese Network” comprises over 100 counsellors, spread on 5 continents.
*SOURCE EurAfrican Forum
Zimbabwe: African Development Bank Executive Directors conduct consultative mission, tour project sites
February 27, 2020 | 0 Comments
|The delegation also met officials from various ministries, civil society, private sector and multilateral financial institutions|
HARARE, Zimbabwe, February 26, 2020/ — A seven-member delegation of Executive Directors of the African Development Bank (www.AfDB.org) visited Zimbabwe on a week-long fact-finding mission where they held meetings with a number of officials including President Emmerson Dambudzo Mnangagwa.
The delegation also met officials from various ministries, civil society, private sector and multilateral financial institutions, during which they were briefed on the current macro-economic, social and political environment in the southern African nation.
During the meeting with President Mnangagwa, the delegation appreciated ongoing reform efforts initiated since January 2019 as part of the government’s Transitional Stabilization Program 2018 -2020 under the IMF Staff Monitored Program (May 2019 – March 2020). They welcomed the president’s pledge to recalibrate the Program, which aims to implement a coherent set of policies that facilitate a return to macroeconomic stability.
The reforms include introducing necessary policy and institutional reforms for private sector-led growth, addressing infrastructure gaps, and launching quick-wins to stimulate and restore growth.
“I would like to express my gratitude to the Bank for the commitment towards Zimbabwe. We need more assistance as a country, more so, as we embarked on substantive economic reforms based only on domestic resources without help from the international community,” said President Mnangagwa.
The directors noted that despite some positive results, reform coordination in the country remains a challenge, against a backdrop of a continuing general rise in poverty levels, especially in the urban areas.
Zimbabwe is also still feeling the after effects of Cyclone Idai, which hit the country in March 2019, and the 2019/20 drought, which has left more than 8.5 million people (3 million of whom are in urban areas), food insecure.
The delegation also visited several Bank-funded projects, including the Post Cyclone Idai Emergency Recovery and Resilience Programme (PCIREP), implemented in the Chimanimani district, which was severely affected by Cyclone Idai. The project, funded to the tune of 24.7 million, focuses on public infrastructure interventions aimed at re-establishing sustainable livelihoods and kick-starting economic activities of the affected population.
They commended the government’s rebuilding efforts in Chimanimani and other parts of the country, and reiterated the Bank’s commitment to the people of Zimbabwe and the country’ economic development agenda.
The group urged perseverance in the implementation of reforms and called for early normalization of relations with development partners, which would help unlock more substantive external resources for Zimbabwe, including from the African Development Bank.
Travelling to Zimbabwe were Mbuyami Matungulu who represents a constituency covering Burundi, Cameroon, Central African Republic, Chad, Congo and Democratic Republic of Congo); Judith Kateera representing Angola, Mozambique, Namibia and Zimbabwe; Kenyeh Barlay for Gambia, Ghana, Liberia, Sierra Leone and Sudan; Paal Bjornestad for Denmark, Finland, India, Norway and Sweden; Amod Kipronoh Cheptoo, for Eritrea, Ethiopia, Kenya, Rwanda, Seychelles, South Sudan, Tanzania and Uganda); and Mmakgoshi Lekhethe, for Eswatini, Lesotho and South Africa.
Eugenio Paulo, Senior ED Advisor, and Josephine Ngure, Acting Director General (RDGS) also participated in the mission.
Ireland moves closer to becoming the 81st member of the African Development Bank Group
February 24, 2020 | 0 Comments
Abidjan, Cote d’Ivoire, 24 February 2020 – Ireland moved a step closer to becoming a member of the African Development Bank Group after a government delegation on Monday deposited ratification instruments during an official visit to the Bank’s Abidjan headquarters.
The delegation, led by Paul Ryan, Director, International Finance Division of Ireland’s Department of Finance, included Patrick Mulhall and Renee Martin of the Department of Finance, and Laura Gibbons from the Department of Foreign Affairs and Trade.
“For us, it marks the final moments of our decision to become a member of the African Development Bank Group. It’s been a long road, but a very successful one. We are excited that we are at the end,” said Ryan after submitting the documents. “Africa has been one of our key targets for development cooperation, so joining the Bank gives us the opportunity to work with the continent and share knowledge in areas such as financial technology services, energy and climate change, among others ,” he said, indicating that Ireland would complete the process very shortly.
Ireland’s application to join the African Development Bank Group was approved during the Annual meetings of the Board of Governors of the Bank Group in Malabo, Equatorial Guinea in June 2019. Depositing the Instrument of Ratification of the Agreement Establishing the African Development Fund (ADF) marks an important step in the process, Vice-President for Finance, Bajabulile ‘Swazi’ Tshabalala noted.
“The participation of Ireland will provide many partnership opportunities for Africa’s development, particularly in the Energy, Climate Change and Agri-food sectors. Additionally, Ireland is now a knowledge economy, which we as a Bank, are looking at in terms of future development on the continent, “ Tshabalala added.
The group will spend the next two days in Abidjan to meet with various Bank departments and teams and to learn more about the Bank’s operations and strategies.
The Bank’s Secretary General, Vincent Nmehielle and General Counsel, Godfred Penn welcomed the representatives and received the Instrument of Ratification, a major administrative step in admitting Ireland as a state participant in the African Development Fund. Director for Resource Mobilization and Partnerships, Désiré Vencatachellum and Victor Oladokun, Director of Communication and External Relations also participated in the meeting.
Ireland’s “Strategy for Africa to 2025” includes a commitment to collaborate with the key financial institution on the continent; as well as to explore new partnerships to support policy development and programme implementation; and deepen engagement in blended finance mechanisms for job creation.
Speaking at the meeting, Nmehielle noted that “Ireland is joining the African Development Bank Group at an opportune time. Its participation in the African Development Fund and membership of the African Development Bank will contribute to Africa’s socio-economic development. This is a welcome and timely addition to our efforts to help accelerate achievement of the UN Sustainable Development Goals and AU Agenda 2063 by African countries.”
The membership process for joining the Bank Group includes signing the Agreements establishing the Fund and Bank, deposit of the instruments of acceptance/approval of the Fund and the Bank agreements, and the payment of the initial subscriptions to the Fund and capital stock of the Bank.
The rules also require that a non-African country be a state participant in the ADF, the concessionary lending arm of the Bank, before becoming a member of the Bank. Ireland will become the 81st member of the Bank Group, once finalized.
One step closer to clean energy for 30 million people in Africa
February 21, 2020 | 0 Comments
- Africa’s first regional PPP hydropower project reaches key milestone
- Finance Minister signs grant agreement with European Investment Bank in Bujumbura
- EUR 9 million European support unlocks final preparatory works for Ruzizi III hydro project
- Follows 10 years of EIB and EU financial support for preparation of 147MW hydropower scheme
- Project backed by Burundi, Rwanda, DRC and private consortium to transform regional energy
The first Public Private Partnership (PPP) project to generate renewable energy from shared resources in Africa came closer to reality today following signature of a key agreement to enable preparatory works to commence.
The Ruzizi III hydropower project will generate reliable electricity from the Ruzizi river to be shared equally between the Democratic Republic of Congo, Burundi and Rwanda.
The regional renewable energy project will benefit an estimated population of 30 million people, 70% of whom are living under the poverty line and at present only 6% of whom can access electricity.
“Harnessing the full potential of the Ruzizi River has been a dream for Burundi, Rwanda and the Democratic Republic of Congo for generations. The long-standing support of international financial partners and close cooperation with regional governments has been crucial to enable technical, political and environmental planning to progress. Today’s agreement with the European Investment Bank will enable project financing to be agreed in the coming months and the Ruzizi III project to finally begin. Burundi thanks all partners involved for their dedication to transforming access to clean energy in the Great Lakes” said Domicien Ndihokubwayo, Finance Minister of the Republic of Burundi.
“The European Investment Bank, the European Union and the project financiers have worked closely with the Burundi, Rwandan and DRC government for more than 10 years to ensure that Africa’s first three country PPP clean energy project can become a reality and ensure access to electricity for millions of people. Today’s agreement demonstrates the European Union’s firm commitment to supporting renewable energy in Africa and unlock support of private investors for sustainable development.” said Ambroise Fayolle, European Investment Bank Vice President.
“The European Union is committed to supporting access to clean energy in Africa and our close cooperation with local and international partners is enabling geotechnical work for Ruzizi III to finally start. The Ruzizi III project represents the EU Green Deal for Africa in reality.” said the European Union Delegation to Burundi.
“The signing of the €9.1 M grant for the
project is a significant moment for the project as it complements sponsor
contributions from IPS and SN Power towards the funding of the pre-financial
close development activities. For this, IPS and SN Power are truly
grateful to EIB and the EU-Africa Infrastructure Trust Fund who have availed
the grant, thereby considerably de-risking the Project. It is an impressive
example of how public-private cooperation can facilitate early stage development
of complex projects”. said Mr Galeb Gulam, CEO of Industrial Promotion
Earlier today Domicien Ndihokubwayo, Finance Minister of the Republic of Burundi, and representatives of the European Investment Bank, signed a EUR 9.1 million grant agreement to enable preparatory work to commence. This follows the signaurtre of the grant agreemnt in January by the Finance Minister of
Rwanda and the private sector developer IPS/SN Power. The grant will be provided by the European Union through the EU-Africa Infrastructure Trust Fund and managed by the European Investment Bank.
Ensuring access to reliable renewable energy for the Great Lakes region
Once commissioned, Ruzizi III will double Burundi’s current electricity generation capacity, increase Rwanda’s installed capacity by 33% and provide much-needed baseload power in Eastern DRC, a region that is otherwise isolated from DRC’s interconnected grid.
Protecting African forests and reducing dependence on charcoal
The Ruzizi III project will support regional integration and reduce reliance on expensive thermal generation and reduce the local dependence on wood fuel and charcoal; a major threat to the countries’ forests and biodiversity. The project will be supported by concessional funding to ensure affordable electricity tariffs.
Project progress follows decade of technical preparation and political agreements
Today’s milestone signature follows agreement between the governments of Burundi, DRC and Rwanda and the private sector sponsors of the Power Purchase Agreements in July last year.
Flagship European Union support for private sector clean energy investment in Africa
The European Union, the EIB and other European financial partners have supported the Ruzizi III project since 2009 and followed international technical, environmental and social best practice.
International financial institutions including the European Investment Bank, the European Union, Kreditanstalt Für Wiederaufbau (KFW), the French Development Agency (AFD), the African Development Bank (AfDB), as well as the World Bank are supporting the project.
Fostering regional cooperation in the Great Lakes
Today’s Ruzizi III is also supported by regional organisations including the Economic Community of the Great Lakes Countries (ECGLC), the Nile Basin Initiative and the Nile Equatorial Lakes Subsidiary Action Program (NELSAP).
Financial close of the Ruzizi III hydropower project is expected to be agreed by mid-2021.
About the European Investment Bank:
The European Investment Bank (EIB) is the long-term lending institution of the European Union owned by its Member States. It makes long-term finance available for sound investment in order to contribute towards EU policy goals.
European Union Delegation to Burundi
Tony Nsabimana, Attaché Presse et Information
Tel: +257 22 20 22 54
European Investment Bank
Richard Willis, firstname.lastname@example.org, Tel.: +352 4379 82155, +352 621 555 758
16 finalists announced for the Commonwealth Youth Awards 2020
February 20, 2020 | 0 Comments
Sixteen extraordinary individuals including innovators, activists and entrepreneurs from 12 countries have been shortlisted for this year’s Commonwealth Youth Awards.
A pan-Commonwealth judging panel met last week and selected the top individuals in each of the award’s four regional categories.
This year, the awards received more than 500 entries from 40 countries. Of those shortlisted, the top candidate from each region will be named as a regional winner. One of these four regional winners will become the Commonwealth Young Person of the Year 2020.
All 16 finalists will each receive a trophy, a certificate and £1,000 to expand the scope of their projects.
The regional winners will each earn a trip to London to attend the awards ceremony on 11 March 2020 and will receive £3,000. The overall pan-Commonwealth winner will take home a total of £5,000.
The judging panel included high commissioners, development experts and youth leaders from across the Commonwealth.
The awards recognise outstanding young people whose innovative projects have made a real impact in helping their countries achieve the Sustainable Development Goals (SDG).
The Commonwealth’s head of social policy development Layne Robinson said: “Their talent paired with tangible solutions sends a strong signal that they should be equal partners in the development agenda, not passive allies.
“With now only 10 years remaining to implement the 2030 Agenda for Sustainable Development, the Commonwealth takes great pleasure in bringing these young people’s invaluable efforts to the global stage so their leadership can inspire others and accelerate meaningful youth participation.”
The 2020 finalists, in alphabetical order by region and individual surname, are:
AFRICA AND EUROPE
Joshua Ebin (Nigeria)
Focus: SDG 12 – Responsible Consumption and Production
Joshua is the founder of ‘Jumela Limited’; an agro-technology venture which specialises in the production of plant-based compost and novel agro-products for crop production farmers in Nigeria. The venture aims to tackle poor food waste management, pollution problems and low agricultural yield in the country. The venture has so far produced two metric tonnes of compost for sale to national clients and created jobs for more than 25 workers.
Galabuzi Brian Kakembo (Uganda)
Focus: SDG 8 – Decent Work and Economic Growth
Brian is the founder of ‘WEYE Clean Energy’; a social enterprise that produces and sells eco-friendly briquettes (blocks of compressed charcoal) made from biodegradable plastics and organic waste to home, schools and local institutions. Profits are used to fund community outreach programmes and training for young people and women in smart agriculture. The enterprise’s work has reached more than 800 women and young people of which 600 are now earning income from briquette making or plastic waste recycling.
Salvatory Kessy (Tanzania)
Focus: SDG 4 – Quality Education
Salvatory is the founder of ‘SmartClass’; an online platform which matches low-cost qualified and vetted tutors to students interested in learning basic skills such as numeracy, literacy, computing, agriculture and languages. The offline platform allows users to book face-to-face tuition through a text and the group tuition model allows learners to book tutors collectively and reduce costs. The platform has 5,000 active registered tutors and 20,000 learners in Tanzania.
Elizabeth Wanjiru Wathuti (Kenya)
Focus: SDG 13 – Climate Action
Elizabeth is the founder of the ‘Green Generation Initiative’ which focuses on promoting environmental education and food security in schools, particularly by encouraging a tree growing culture and through its ‘adopt a tree’ campaign. The initiative has so far helped plant 30,000 tree seedlings in more than 40 schools. In addition, more than 20,000 school children have been trained to be environmentally conscious across seven Kenyan counties.
Sheikh Inzamamuzzaman (Bangladesh)
Focus: SDG 4 – Quality Education
Sheikh is the founder of ‘Study Buddy’; a start-up that provides an alternative learning platform to children with learning difficulties and their parents. Using interactive approaches such as augmented reality and gaming, the platform conducts personal assessments to match each child with unique learning methodologies and then connects the child with relevant learning tools and special needs professionals. The programme has so far supported more than 800 children and more than 1000 parents.
Vedant Jain (India)
Focus: SDG 4 – Quality Education
Vedant is a co-founder of the ‘Labhya Foundation’; a non-profit that aims to equip children from low socio-economic with critical social and emotional skills. In partnership with the national government and partnered non-governmental organisations, the foundation co-created the ‘Happiness Curriculum’ to educate children in schools on universal human values, emotional wellbeing and mindfulness, and to enhance their critical thinking and soft skills. The curriculum has so far positively impacted more than 1 million students in more than 20,000 schools in India.
Jaya Rajwani (Pakistan)
Focus: SDG 5 – Gender Equality
Jaya is the technical lead for ‘Aurat Raaj’; a social enterprise which creates technology-based products and services to educate girls on health, hygiene and safety. Jaya has led the development of the enterprise’s chat-bot, a tool which uses artificial intelligence to provide young girls with accessible and non-judgmental information on reproductive health. Jaya’s work has seen the ongoing development of the chat-bot to include local languages and videos while in-school training workshops have helped increase the tool’s reach and impact.
Hafiz Usama Tanveer (Pakistan)
Focus: SDG 6 – Clean Water and Sanitation
Hafiz is the founder of ‘PakVitae’; a social enterprise that produces and supplies water treatment products to provide clean and accessible drinking water to rural communities and refugee camps in Pakistan. PakVitae has so far reached over 11,000 people including victims of the Kerala flood, Afghan refugee camps and remote schools in rural areas.
CARIBBEAN AND CANADA
Lalita Gopaul (Guyana)
Focus: SDG 13 – Climate Action
Lalita is an environmental sustainability activist and researcher by profession. Her research work covers eco-friendly agricultural methods, clean energy solutions and green technologies which have been used in Guyana. Her work has educated more than 100 farmers in the country to adopt more sustainable and environmentally-friendly farming methods to boost production and improve livelihoods in a changing climate. Lalita is also the founder of ‘Eco Club’ which mentors young people on environmental education. The club also runs coastal clean-up activities, tree planting sessions and climate-action walks.
Sowmyan Jegatheesan (Canada)
Focus: SDG 15 – Life on Land
Sowmyan is the founder of ‘SystemaNaturae.org’; one of the largest online information sources for global wildlife projects, research and datasets. The platform creates awareness and helps communities build resilience by better understanding global activities around climate change, migration patterns and human-wildlife conflict through the sourced material. The platform has reached more than 100 countries and has been used by research centres, think tanks and universities across the world.
Stephen McCubbin (Jamaica)
Focus: SDG 16 – Peace, Justice and Strong Institutions
Stephen is the founder of ‘Cheer Sensation JA’; a youth non-profit which works to foster holistic development through the sport of cheer. Through its cheerleading programmes and competitions, the organisation provides a safe space for children and adults to become physically active whilst working as a violence prevention tool in volatile communities in Jamaica. Stephen’s work has enabled him to attract international cheerleading bodies to Jamaica to provide technical support to the organisation, further increasing awareness and support for the sport.
Samuel Neil (Jamaica)
Focus: SDG 4 – Quality Education
Samuel is the founder of ‘The Aviation Club of Jamaica’; a national initiative which encourages young people to enter the aviation sector. The programme provides student members with scholarship opportunities and training programmes through its partnerships with training institutions. The programme has introduced hundreds of local young people to the world of aviation and supported many to go on to become qualified aviation professionals.
Sagufta Janif (Fiji)
Focus: SDG 12 – Responsible consumption and production
Sagufta is the founder of ‘The Fusion Hub’; a social enterprise focused on addressing a lack of access to proper waste disposal methods in remote islands by upcycling waste materials and selling them as furniture, home items and accessories. The Fusion Hub has so far upcycled more than 400 tonnes of waste selling hundreds of items to clients. The Hub also employs single mothers giving them a sustainable livelihood and has helped set up two formal businesses that are now part of its supply chain.
Broderick John Mervyn (Fiji)
Focus: SDG 16 – Peace, Justice and Strong Institutions
Broderick is the current President of ‘Ignite4Change’; a youth-led initiative which works to empower and educate underprivileged women and youths to grow inclusive governance, equality, participation and cultural preservation within local communities. The initiative runs several programmes including on public speaking training, local governance awareness, climate change advocacy, youth leadership and the protection of the Rotuman Language and Heritage.
Rinesh Sharma (Fiji)
Focus: SDG 2 – Zero Hunger
Rinesh is the founder of ‘Smart Farms Fiji’; an initiative that aims to provide a sustainable food production system by growing fruits and vegetables in a controlled environment all year round. The Smart Farm system’s produce is monitored through smartphone technology and saves up to 70 per cent more water than traditional farming methods. Smart Farms Fiji also runs the country’s first hydroponics course that teaches local communities to embrace modern farming practices.
Fusi Masina Tietie (Samoa)
Focus: SDG 5 – Gender Equality
Fusi is the founder of ‘Her Voice’; an online initiative that aims to empower young women in the local community by sharing their personal stories through art and videography. The project works in partnership with volunteer photographers, make-up artists, bloggers and fashion designers to curate each young woman’s story and share to Her Voice’s online community. Fusi also provides national training to young women on leadership and gender equality.
ENGIE Africa brings Off-Grid Power to over 4 Million People, establishing its Position as Market Leader on the Continent
February 19, 2020 | 0 Comments
ENGIE has achieved this through the development of its three A2E off-grid energy solution companies: Fenix International, ENGIE Mobisol, and ENGIE PowerCorner
NAIROBI, Kenya, February 18, 2020/ — ENGIE Africa (http://www.ENGIE-Africa.com) is pleased to announce that it has successfully accelerated the Access to Energy (A2E) strategy that it launched in 2018. ENGIE has achieved this through the development of its three A2E off-grid energy solution companies: Fenix International, ENGIE Mobisol, and ENGIE PowerCorner.
With these three innovative entities, ENGIE Africa is bringing decentralized electricity to more than four million people in nine countries (Uganda, Zambia, Kenya, Tanzania, Rwanda, Nigeria, Benin, Côte d’Ivoire, and Mozambique). This growth is in line with the Group’s ambition to reach millions of households and businesses with clean, distributed energy across Africa.
Fenix, which was acquired by ENGIE in 2018, expanded its operations significantly in 2019. To date, it has sold more than 700,000 solar home systems that power 3.5 million people in rural communities across six countries. Now employing 1,200 full-time team members, Fenix launched sales in Mozambique in June 2019. In the last month, the company has reached milestones in multiple markets, with 150,000 solar home systems sold in Zambia, 50,000 sold in Benin, and 20,000 sold in Côte d’Ivoire.
ENGIE complemented its range of solar home system solutions by finalizing the acquisition of Mobisol in October 2019. The higher capacity (40–200W) of ENGIE Mobisol’s products offers consumers access to modern energy services and appliances to establish solar-powered small businesses. ENGIE Mobisol has operations in Tanzania, Rwanda and Kenya, and has installed more than 150,000 solar home systems, providing clean and reliable energy to 750,000 people and counting in East Africa.
Mini-grid developer and operator ENGIE PowerCorner now has 13 mini-grids in operation across two countries (Tanzania and Zambia), serving 15,000 beneficiaries. It is constructing new mini-grids in Uganda (in joint venture with Equatorial Power), Benin and Nigeria, with the aim to triple its number of customers this year. ENGIE PowerCorner focuses on powering income-generating activities and productive usages, thus contributing to the increase of the economic welfare of its rural customers.
Fenix’s inclusive solar home systems for household usages, combined with ENGIE Mobisol’s focus on larger households and small business appliances, together with ENGIE PowerCorner’s focus on income-generating activities and small-scale industries, enables ENGIE to offer affordable energy products and to extend its customer base from rural to urban areas.
Yoven Moorooven, CEO of ENGIE Africa, says: “We strongly believe in the huge potential of the off-grid electrification sector and that it will be instrumental in rapidly and cost-effectively bridging energy gaps across Africa. We will build upon our successes to sustain and meet our long-term ambition of impacting tens of millions of lives across Africa. ENGIE has an important role to play in industrializing and scaling up the off-grid solar business. We are keen to offer the lowest cost and best quality Access to Energy solution that addresses our customers’ needs.”
ENGIE is expanding its offerings beyond electricity provision, integrating cost-effective and tailor-made solutions “as a service” to accompany customers every step of the way. This expansion links energy access to other products and services: internet, water, productive appliances, clean cooking, financial services and products.
Universal electrification is the seventh of the United Nations Sustainable Development Goals that the global community has committed to achieve by 2030. ENGIE is confident that universal access to energy is achievable in the foreseeable future, through smart investments in a combination of national grid extension, solar home systems and mini-grids.
About ENGIE Africa:
ENGIE (https://www.ENGIE.com/) is the largest independent electricity producer in the world, and one of the major players in natural gas and energy services. The Group has more than 50 years of experience on the African continent and has the unique ability to implement integrated solutions all along the energy value chain, from centralized electricity production to off-grid solutions (solar home systems, mini-grids) and energy services. ENGIE Africa employs nearly 4,000 people, and has 3.15 GW of power generation capacity in operation or construction. It is a leader in the decentralized energy market, providing clean energy to more than four million people through domestic solar installations and local microgrids.
Local content and market-driven policies set to shape energy investments in Senegal as African Energy Chamber concludes working visit in Dakar
February 18, 2020 | 0 Comments
The African Energy Chamber’s delegation advocated for local content as a pillar of the industry’s sustainability efforts
DAKAR, Senegal, February 18, 2020/ — As Senegal’s first oil and gas projects are under-development and first production is expected within two years, the African Energy Chamber (www.EnergyChamber.org) conducted this week a working visit in Dakar to promote investment into the country and support local content development and capacity building.
Led by Executive Chairman NJ Ayuk, the African Energy Chamber’s delegation advocated for local content as a pillar of the industry’s sustainability efforts and offered all its support to continue pushing and financing Senegal’s initiatives to build capacity and build a new generation of Senegalese oil & gas workers and managers. “Oil companies have an unmatched ability, and a profound responsibility, to support H.E. Macky Sall’s bold vision in shaping an economy that works for all Senegalese and preserves their freedoms,” said NJ Ayuk.
The team met with H.E. Macky Sall, President of the Republic of Senegal; H.E. Mouhamadou Makhtar Cissé, Minister of Petroleum and Energies, Ousmane Ndiaye, Permanent Secretary of COS-Petrogaz; Aguibou Ba, Director General of the National Institute for Petroleum and Gaz (INPG) and the majority of the oil and gas operators and service companies.
“Moving closer and closer to becoming a large-scale producer of oil and gas, Senegal’s story is an inspiring one. And, as a hotspot for oil and gas development, it is only fitting that the nation cements market-driven local content frameworks that are rooted in capacity building and are driven by the determination to transform practices in its energy sector,” declaired Nj Ayuk. “That is why initiatives such as the INPG are important in ensuring that industry revenue benefits the state while also guaranteeing employment for citizens. The INPG is a true social contract bringing the private and public sector together to plan for a prosperous future for Senegal,” he added.
The Chamber’s working visit coincided with that of US Secretary of State Mike Pompeo, during which state-owned SENELEC and GE signed an agreement for the development of 300MW of gas-to-power capacity, the modernization of Senegal’s power plants and the creation of a maintenance centre in Senegal. In line with the US’ interests to increase cooperation with Africa, the Chamber reiterated the industry’s call for continued improvements in the ease of doing business and better operating environments for foreign investors.
“President Trump dispatching Secretary of State Pompeo and US companies to Senegal is a brilliant move. US companies understand that investing in Senegal is good business and a sustainable corporate strategy. President Macky Sall’s government has built on positive trends to maximize foreign investments. This includes a commitment to transparency, improving safety and security, strengthening the macroeconomic environment, investing in quality education and skill development in science, technology and innovation, and avoiding the Dutch disease,” added Ayuk.
Last year, the African Energy Chamber and Centurion Law Group hosted a local content forum in Senegal, calling attention to local content development in the country. The ongoing visit serves as a follow up and a showcase of the Chamber’s continued commitment to the growth and development of African economies through ensuring that Africa’s natural resources benefit Africa’s people first.
“Senegal’s emergence as a key player in the oil and gas industry has been remarkable and, as this growth continues to surge, it is important that local communities have a seat at the table, It is also important that we continue to create an enabling environment investors and the oil sector. Cutting unnecessary red tape and fast-tracking project approvals will give the energy operators a boost,” said NJ Ayuk. “This, however, is a goal that is achievable only through the collaboration of the private and public sector. Local content is value creation and it is pertinent that Senegal put in place policies and frameworks that will see the its people benefit from its hydrocarbon industry,” he added.
Last month, Woodside Energy got the green light for its $4.2bn Sangomar oil project, Senegal’s first offshore oil venture where first production is expected in 2023, with a capacity to reach 100,000 bopd. The Phase 1 development concept for the Sangomar field is a stand-alone FPSO facility with subsea infrastructure. Meanwhile, works are ongoing at the Greater Tortue Ahmeyim FLNG project, whose phase 1 will see the commissioning of a 2.5 mtpa facility by 2022. This month, Kosmos Energy, BP, Petrosen and SMHPM signed an agreement with BP Gas Marketing for the supply of 2.45 mtpa of LNG over 20 years.
The MSGBC Basin has become sub-Saharan Africa’s hottest exploration frontier. Senegal is currently holding a licensing round to further attract investment into its acreages and boost existing reserves. The round is expected to generate tremendous interest from foreign investors and further confirm Senegal as a new African energy leader.
The African Energy Chamber (www.EnergyChamber.org) works with indigenous companies throughout the continent in optimizing their reach and networks. Our partnerships with international dignitaries, executives, and companies allow for relevant servicing to other international entities looking to operate within the continent.
The African Energy Chamber brings willing governments and credible businesses together to continuing growth of the African energy sector under international standard business practices.
*Source African Energy Chamber
Government of Democratic Republic of the Congo and General Electric Sign Infrastructure Agreement
February 13, 2020 | 0 Comments
|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.
Young Africans benefit from $500,000 Scholarship funding under the Africa Industrial Internet Programme
February 13, 2020 | 0 Comments
Port Louis, Mauritius– 31 January 2020- General Electric (NYSE: GE) and the Africa Leadership University (ALU) have announced the kick-off of the 3rd cohort of the Africa Industrial Internet Programme (AIIP) which is aimed at equipping young Africans with skills that will enable them to take part in the fourth industrial revolution.
The 2020 cohort has enrolled 35 students from 8 countries across Africa, drawn from Oil & gas, transportation, power, energy, manufacturing, healthcare, telecoms and aviation industries. Over the last two years, the rigorous training programme has graduated 64 students, of which 50 were fully sponsored by GE from a scholarship fund totalling US Dollars 500,000.
GE will give 10 full scholarships for the current cohort.
Launched in 2018, the programme has empowered participants with essential skills for building applications for the Industrial Internet, which enables machine-to-machine communication that results in systems that can collect, analyze, and deliver data in real-time. These features provide significant benefits such as predicting when a device will require maintenance, enhancing logistics management, enhancing quality and optimizing safety.
The training takes place at a time when spending on the Internet of Things is predicted to reach a trillion US dollars by 202, with the total number of connected devices being projected to rise to 75.44 billion worldwide by 2025, a fivefold increase in ten years.
Commenting on the Programme, Farid Fezoua, President & CEO for GE Africa said, “As a digital industrial company, it’s exciting to see how over the last two years the AIIP has developed an ecosystem of digital engineers that utilise data science as an enabler for their work across industries, developing solutions for the most pressing challenges. Our partnership with ALU for the AIIP is a testament of our commitment to develop the next generation of leaders that will drive solutions made in Africa for Africa in this transformative digital age.”
The AIIP is designed using a project-based approach where participants get to apply their learning in real world contexts. The Programme includes regular assessments in each module culminating with a final project where participants are tasked with applying their learning to solve an existing problem either in their business or in a partner organization’s business operations. This is achieved through modules in machine learning and big data analytics, Industrial Internet of Things (IIoT) and Cloud-based Application Development. A unique aspect of the Programme is a deliberate focus on creating links to industry for participants by inviting industry experts to intensives to share case studies, projects of interest, trends and opportunities, through industry field visits and mentorship opportunities with data science professionals. “African Leadership Group is thrilled to be partnering with GE to build a new generation of digital leaders for Africa” said Fred Swaniker, Founder of African Leadership Group, which includes African Leadership Academy, African Leadership University, and ALX. “We share GE’s passion for data, and what it can bring to the African continent and the world. The Programme enables mid-career engineers to build new skills in data analytics, data science, data engineering and data visualization. By leveraging the power of data,
today’s engineers can significantly improve the performance of high-tech industrial machinery and processes, thereby increasing the bottom line for companies. The Africa Industrial Internet Programme is creating globally competitive, digital engineers right here in Africa, and we can’t wait to see their full impact on the continent”.
In 2019 five female candidates from Kenya, South Africa and Nigeria received the Jay Ireland Africa Rising Scholarship for women in tech in honor of GE Africa’s former CEO, Jay Ireland.
Speaking about her experience with the programme, Funmi Somoye a 2019 cohort graduate from Nigeria said, “More than Machine Learning and Data Science, I have learned more about myself, and what I am capable of doing. I can’t wait to change the world!
ALU is pioneering a fresh approach to higher education in the 21st century; offering accredited undergraduate, postgraduate and executive education Programme in a unique and imaginative way. By integrating students’ learning with the real world, empowering students to take ownership of their own learning, equipping each student to think entrepreneurially, and employing the most engaging and inspiring teaching methods, ALU is pioneering a new take on higher education and leadership development. www.alueducation.com
About GE GE 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.
From the students
Maureen Kibetu, 2019, Kenya (GE)
It is more than just coding and data science. It is practical in that we practice the skills we learnt by using real company data to draw insights. I learnt to see data as a story telling tool. I liked that the program also focused on professional development and I particularly enjoyed the conversations on leadership for the continent and ethics in the field of data science.
Gachanja Muigai 2019, Kenya (GE)
AIIP was a unique eye opener and highly beneficial program to me considering my Engineering Background. Through it I acquired formidable & versatile skills in the areas of Data Analytics, Machine Learning, Application Development and Artificial Intelligence. It is indeed rare to find a program that encompasses so many practical & digital skills & even harder when you add a dedicated, passionate Faculty. Finally my fellow students were a great addition to the program giving it a truly Pan African & Global outlook
Edward Opoku, 2018, Ghana
The AIIP is a unique, experience and dive into the world of data and analytics. It gives you an entire spectrum of what it takes to survive in the world of data science. through AIIP, I was able to meet passionate professionals and challenge our assumptions on the impact of data, and what it can bring to the continent and ultimately to the world.
Funmi Somoye, 2019, Nigeria
More than Machine Learning and Data Science, I have learned more about myself, and what I am capable of doing. I can’t wait to change the world!
Adeyinka Adeyemo, 2019, Nigeria
The AIIP is surely a programme of choice for aspiring data scientists or engineers. The modules are in-depth and well thought out and the focus on other professional development skills is also a plus for me.
Rose Funja, 2019, Tanzania
I like the linking of the theory to practice, every intensive meetup had professionals who advised us and shared interesting use cases.
Matlotlo Magasa, 2019, South Africa (GE)
Came in to the programme feeling like I was just a chemical engineer, worried about python programming and if I would be able to learn it. Now Python is not only a friendly coding language but I have the ability to get data from the plant and analyze this easily using data analytics and visualization, to use design thinking in approaching problems.
Chukwudum Chukwuedo, 2019,Nigeria
I just completed my business trip (enterprise digital competition) here in Houston, Texas and I am privileged that my software minimum viable product demonstration received full funding from the enterprise sponsors. The confidence gained from tackling ALU AIIP’s formative and summative assessments (to do hard things confidently) really came in handy and also key lessons from the leadership series especially working within teams and managing conflicts helped the team quickly go through the storming portions of team dynamics to the performing stage.
Sizwe Ncube, 2019, South Africa
I love the way the programme is structured; it encourages peer-to-peer learning and one gets equipped with new tech skills every day. The practicality of the course means you learn by doing. My biggest lesson from the program was to keep abreast of the constant changes in data science technology. All the techniques and skills we learned may become outdated in the near future, so we need to keep updated on new digital techniques. – Tobe Asem, Nigeria
- My biggest takeaway was the focus on ethics in the field of data science. That with all the power that comes with data, those planning to use it ought to consider ethical implications and biases in any application. – Maureen Kibetu, Kenya
- I learned that the world is changing daily at a high speed, so one needs to equip him/herself with the essential data to change Africa for the better and the use of data to solve real human problems is amazing. – Thula Vilakazi, South Africa
- What I loved most about the program was that it laid way for the interaction with a lot of tech-savvy and entrepreneurial minds from the industrial and telecoms space in Africa. Learning from their individual experiences and connecting with them on Africa industrial digital solutions standpoint was a high point for me. It was eye-opening to see that a lot of work is being done in Africa in the AI and ML space by both students on the program and the external facilitators of the program. What’s left now is to apply the skills I have learned now to the industry I work in to benefit Africa at large – Tobe Asem
Voith signs memorandum of understanding to build training center in Angola
February 11, 2020 | 0 Comments
- Agreement signed in the presence of Federal Chancellor Dr. Angela Merkel, the Angolan President João Manuel Gonçalves Lourenço and the Angolan Minister for Energy and Water João Baptista Borges
- Significant contribution to the training of skilled personnel for technical and commercial occupations in Angola
- Substantial hydropower potential in Angola still untapped
HEIDENHEIM, Germany. Within the framework of a delegation led by the German Chancellor, technology group Voith signed a memorandum of understanding in the Angolan capital Luanda on 7 February 2020 to build a training center in Angola. The memorandum of understanding was signed by João Baptista Borges, Angolan Minister for Energy and Water, and Dr. Toralf Haag, President and CEO of Voith, in the presence of Dr. Angela Merkel, the Chancellor of the Federal Republic of Germany. A business delegation accompanied the German Chancellor on her visit to South Africa and Angola for political discussions.
Ground-breaking collaboration to build up local expertise
Voith Hydro has had a presence in Africa since the 1930s. Since then, Voith Hydro has been a regular supplier of equipment to the hydropower industry on the African continent, not least through its successful realization of the two hydropower projects Cambambe I in 2012 and Cambambe II in 2017. With a view to stepping up its local commitment, the company intends to build a training center to provide training and professional development in the renewable energy sector of hydropower. The company will receive support in this venture from the Ministry for Energy and Water of the Republic of Angola (MINEA). The establishment of the Voith Academy and associated development of a training center are designed to provide basic and advanced training for skilled workers in Angola in technical and commercial occupations relevant to the hydropower industry.
In accordance with Voith’s long-established dual training approach, it intends to build a training center for the theoretical part of the training. For the practical training component Voith plans to work with the trainees to build a small hydropower plant in the Cuemba region. Voith will consult with MINEA in 2020 to determine a suitable location for the training center. The envisaged total investment will be in the region of several million euros.
Substantial hydropower potential in Africa
Africa has a huge technically feasible hydropower potential, estimated to be more than 470 gigawatts (GW) for the entire continent. However, the current installed capacity in Africa is only around 36 GW, meaning that the continent has the world’s highest percentage of as yet untapped hydropower potential. This is why many countries are accelerating the construction of new plants to produce regenerative energy from water. In remote regions the focus is on small hydropower stations that help facilitate the rapid development of reliable decentralized power grids.
The declared objective of the Angolan government is an increase in electricity generation capacity from the current 5,700 MW to around 9,000 MW for years to come. In addition, the surplus energy expected to be produced is set to be offered to neighboring countries, which will boost Angola’s economic development. Projects like Cambambe II are milestones for the African country on the west coast of the continent as it moves towards a more diversified and stable energy supply for households and industry. Because until now, the existing electricity supply has only covered about 40 percent of the population. This means that more than 15 million people are having to live without electricity, despite the fact that Africa has a huge hydropower potential that has so far not been exhausted. This potential will now be used to expand the regional electricity supply in a sustainable, efficient and low-emission way.
About the Voith Group
The Voith Group is a global technology company. With its broad portfolio of systems, products, services and digital applications, Voith sets standards in the markets of energy, oil & gas, paper, raw materials and transport & automotive. Founded in 1867, the company today has more than 19,000 employees, sales of € 4.3 billion and locations in over 60 countries worldwide and is thus one of the larger family-owned companies in Europe.
The Group Division Voith Hydro is part of the Voith Group and a leading full-line supplier as well as trusted partner for equipping hydropower plants. Voith develops customized, long-term solutions and services for large and small hydro plants all over the world. Its portfolio of products and services covers the entire life cycle and all major components for large and small hydro plants, from generators, turbines, pumps and automation systems, right through to spare parts, maintenance and training services, and digital solutions for intelligent hydropower.
Canadian Prime Minister Justin Trudeau meets African leaders to advance conflict resolution and economic security
February 11, 2020 | 0 Comments
Trudeau called for cooperation among international partners and governments to create economic opportunity and prosperity that is broadly shared
ADDIS ABABA, Ethiopia, February 10, 2020/ — Canada’s Prime Minister Justin Trudeau convened a meeting for African heads of state, foreign ministers and representatives of the United Nations and other multilateral bodies on Monday to discuss ways to secure peace across the continent as a necessary condition for prosperity.
Trudeau, the 2020 chair of the United Nations Peacebuilding Commission, called for cooperation among international partners and governments to create economic opportunity and prosperity that is broadly shared, “…as a way not just of countering the pull of extremism in some places or the cynicism of populism, but as a way of building a real and tangible future for countries around the world.”
The breakfast meeting, which was held on the sidelines of the 33rd African Union Summit in Addis Ababa, was intended to strengthen the Commission’s partnership with the African Union (AU) and to better integrate African priorities in conflict prevention and bolstering economic security. Among issues discussed were the role that international financial institutions and youth job creation can play in Africa in averting extremism and conflict; and the AU leadership in peacekeeping and peacebuilding efforts.
The talks, titled Sustaining Peace and Economic Security, aligned with the Summit’s theme: Silencing the Guns: Creating Conducive Conditions for Africa’s Development.
Trudeau acknowledged that one of the biggest challenges both developed and developing countries face is the perception that governments are indifferent.
“In this time of change, in this time of transformation of the global economy, time of conflict, time of climate conflict, people worry that the system has no place for them and isn’t providing them with what they need,” the Canadian Prime Minister said.
Among participants were President Roch Marc Christian Kabore of Burkina Faso; the Vice President of Gambia, Isatou Touray; President of the United Nations General Assembly, Tijjani Muhammad-Bande, Vera Songwe, Executive Secretary of the United Nations Economic Commission for Africa, and the foreign ministers of Sierra Leone and Rwanda.
President Kabore offered his reflections on the issues. Burkina Faso is one of several nations in the Sahel region that have seen economic growth adversely affected by conflict and instability.
In opening remarks, African Development Bank President Akinwumi Adesina noted the shifting nature of conflicts across Africa. While the number of outright wars in Africa has declined substantially, they have been replaced with greater fluidity with rising cases of terrorism, extremism, conflicts from non-state actors.
The root causes of conflict, according to Adesina, include “rising inequalities, lack of political inclusiveness, extreme poverty, management and control over natural resources, youth unemployment that causes social unrest, climate change, to name a few.”
The Bank is at the forefront of helping to address fragility in Africa with several initiatives currently under way. So far, $3.8 billion has been allocated to address issues of fragility through the Transition State Support Facility.
Adesina recognized the role Canada plays in enabling the Bank’s work.
“The successful replenishment of the Bank’s African Development Fund 15 – to which Canada contributed substantially with $355 million – will allow the Bank to deploy an additional $1.2 billion to address fragility, strengthen resilience and sustain peace and economic security,” he said.