Category: COVER
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Ghana-Nebraska Captains of Industry Identify Areas for Mutual Collaboration
The Nebraska-Ghana Trade and Investment Program and Husker Harvest Days event, which saw the participation of twenty-two (22) Ghana Government officials and Private Businesses, has ended successfully in Lincoln, Nebraska.
The event, held from 11th to 14th September 2023, UNDER THE THEME – FACILITATING OPPORTUNITIES, has been described by participants as one of the most well-organized Trade and Investment Programs, which is poised to make significant impact, in establishing and building relevant and much needed partnerships.
Senator Ken Schilz, the Lead and Co-founder of Nebraska GhaNeb LLC, expressed his satisfaction, with the quality of the Ghanaian delegates, their understanding of the sectors, in which they operate, and most importantly, their desire to establish long term and profitable business partnerships.
Both GhaNeb LLC and Agrihouse Foundation have positioned ourselves to support to facilitate the opportunities and relationships, that have been established.
We are confident, that creating this platform will help businesses expand their operations and contribute to economic development of both Nebraska and Ghana. Senator Schilz added.
Speaking to some participants, Cecil Sunkwa-Mills of T & C Farms, said, what stood out for the me, was the Business Presentations, where they learnt from the various Nebraska State legal practitioners, policy makers and farmers on focused issues, that addressed, the Legalities of Doing Business in Nebraska, Regenerative Agriculture, Digital Marketing for Retail Sales and Data Mining.
Dr. Solomon Gyan Ansah, the Director of Crop Services at the Ministry of Food and Agriculture, expressed his deep admiration for the extensive array of machinery and equipment utilized by farmers in Nebraska. He noted that these advanced tools have significantly contributed to enhancing crop productivity in the region.
The Chairman of the Ghana Federation of Livestock Inter-Professionals (GHAFLIP), Alhaji Akakade Moro, also shared similar sentiments about the event. Describing it as not only insightful but also an eye-opener to the agricultural sector in Ghana.
The delegates, who also met with leaders of Kreikemeier Farms, Lincoln Premium Poultry, RWH Energy, EZ Politix, Sandhills Global and Certified Piedmontese, expressed their satisfaction with the detailed business discussions, they had.‘’We have together identified areas of Trade collaborations. There are meaningful technologies and enhanced equipment, that we will need. Talks and negotiations have already begun, and we are hopeful to seal some deals soon’’. Mashud Mohammed, Ghana’s 2021 National Best Farmer added.
A pivotal highlight of the program for the Ghanaian delegates, was the visit the Husker Harvest Days event grounds, the renowned and illustrious showcase, acclaimed as the largest irrigated agriculture exposition in the United States.
All the delegates spoke about the positive interactions they had with Exhibitors and vendors, their appreciation of cutting-edge technologies. They are positive of future collaborations.The delegates also had the opportunity to meet with Southeast Community College and Nebraska State University, who are looking at having Ghanaian students, enrol in their institutions in the immediate future.
Alberta Nana Akyaa Akosa, the Executive Director of Agrihouse Foundation, enthusiastically expressed her excitement about the impactful and meaningful partnership, Agrihouse Foundation, has established with GhaNeb LLC, which has made the organizing of the 1st Nebraska-Ghana Trade and Investment Program possible.
I am excited about the future and the important role, we are playing with GheNeb LLC, in facilitating these relationships established. I am happy we have showcased our potential to support in driving innovation and growth in the agricultural sector, creating new avenues for both regions to prosper, she added.
“The partnerships formed during this program are not just agreements on paper; they represent the fusion of expertise, resources, and visions from two different regions. These collaborations will drive innovation, promote sustainable practices, and ultimately contribute to the growth of our agricultural sectors. It’s incredibly exciting to witness the potential these partnerships hold for both Ghana and Nebraska,” stated Mad. Alberta.
This symbolizes the collective commitment of both GhaNeb LLC, Agrihouse Foundation, and the participating regions to work hand in hand in augmenting the agriculture value chain.
The Ghanaian delegation who participated in the 1st Nebraska-Ghana Trade and Investment Program and experienced the Husker Harvest Days included; Hon. Yaw Frimpong-Addo, Deputy Minister of Food and Agriculture (Crops), Mr. Fifi Fiavi Kwetey, General Secretary of the National Democratic Congress, representing former President John Dramani Mahama.
The rest were, Dr. Ansah Solomon Gyan, Director of Crop Services at the Ministry of Food and Agriculture, and Michael Kofi Akoto, Trade Promotion and Commercial Officer at the Embassy of Brazil, Mr. Mohammed Mashud, Chief Executive Director of Cudjoe Abimash Farms, Nana Osuman Abdulai, Managing Director of A.N.O Enterprise/Nana Atta Akara Co. Ltd, Al-Ayadi Fares Mohammed Khear, Irrigation Service Manager at Interplast and Alhaji Akakade Moro, Chairman of the Ghana Federation of Livestock Inter-Professionals (GHAFLIP).
Others included, Mashud Mohammed, Operation Manager at Agripower, Dorothy Opoku, General Manager of Agricultural Manufacturing Group Limited, Kwabena Danquah, General Manager of Operations at Agricultural Manufacturing Group, Seidu Abubakar, Project Specialist for Commercial Agriculture at Savannah Zone Agricultural Productivity Development Project (SAPIP), and Sunkwa-Mills of T&C Farms.
Fidelity Bank’s Head of Agribusiness, Patrick Opoku, and Real Estate Investors Monica and Collins Atta Oteng, of Collinmon Investment Limited, were also present.
SOURCE
AGRIHOUSE FOUNDATION
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Africa Women Innovation and Entrepreneurship Forum (AWIEF) Announces Finalists for 2023 AWIEF Awards
CAPE TOWN, South Africa, September 20, 2023/ — The Africa Women Innovation and Entrepreneurship Forum (AWIEF) (https://www.AWIEForum.org) is delighted to announce the finalists for its 2023 AWIEF Awards.Launched in 2017, the prestigious annual AWIEF Awards is an initiative to recognise, honour, and celebrate women entrepreneurs and business owners in Africa across various industry sectors for their achievements and contribution to the continent’s inclusive economic growth and social development.
An international and independent Panel of Judges selected the twenty-four (24) finalists across eight (8) categories. These outstanding women founders and business leaders operate in a diverse range of sectors and represent companies from fourteen (14) different African countries: Cameroon, Egypt, Ethiopia, Kenya, Morocco, Nigeria, Rwanda, Senegal, Sierra Leone, South Africa, Tunisia, Uganda, Zambia, and Zimbabwe.
The 2023 AWIEF Awards winners will be announced and celebrated at a special ceremony and gala dinner at the AWIEF2023 Conference and Awards, taking place on 9 and 10 November at the Kigali Convention Centre, Kigali, Rwanda.
AWIEF Founder and CEO, Irene Ochem, said: “Given the huge number and calibre of the nominations received this year, it is clear that female entrepreneurship and business leadership is thriving across Africa. It is our honour to recognise and celebrate the achievements and contributions of these women to the inclusive growth of their respective sectors, their countries and the continent’s economy.”
A member of the 2023 AWIEF Awards Panel of Judges, John-Paul Iwuoha, Founder of Smallstarter Africa, said: “As a Judge, I was thoroughly impressed by the quality of applications in all the categories. It is great to see how AWIEF continues to attract innovative women across Africa who are creating enormous value for society.”
The finalists for the 2023 AWIEF Awards are (listed in alphabetical order):
Young Entrepreneur Award
Salamba Diene, CEO, BIOSENE SARL, Senegal
Joyce Kamande, Co-founder & CEO, Safi Organics, Kenya
Jovia Kisakye, CEO, Sparkle Agro Brand, Uganda
Tech Entrepreneur Award
Norah Magero, Founder & CEO, Drop Access Limited, Kenya
Kathryn Malherbe, CEO, Med Sol AI Solutions, South Africa
Kidist Tesfaye, Founder & CEO, YeneHealth, Ethiopia
Agri Entrepreneur Award
Chinwendu Nweke, CEO, Bridge Merchant Enterprise, Nigeria
Forget Shareka, Founder, Chashi Foods, Zimbabwe
Nonopa Tenza, Founder & MD, Kevinot Farming, South Africa
Energy Entrepreneur Award
Linda Mabhena-Olagunju, Founder & CEO, DLO Energy Resources Group, South Africa
Ifeoma Malo, CEO, Clean Technology Hub, Nigeria
Margaret Yainkain Mansaray, Founder & CEO, Women in Energy Sierra Leone Limited, Sierra Leone
Creative Industry Award
Yasmina Belahsen, Founder, MayaDigital, Morocco
Gladys Chibanda, Founder & CEO, Krafted Ink, Zimbabwe
Ararat Tamirat, Founder & GM, Tuba By Ararat, Ethiopia
Social Entrepreneur Award
Damilola Aminat Adeyemi, Co-founder & CEO, D-Olivette Global Enterprise, Nigeria
Kayumba Chiwele, Founder & Principal Psychologist, MindAid Zambia, Zambia
Mundih Noelar Njohjam, Medical Doctor, Epilepsy Awareness, Aid and Research Association, Cameroon
Empowerment Award
Aya Chebbi, Founder & President, Nalafem Collective, Tunisia
Zulfat Mukarubega, Founder, University of Tourism, Technology and Business Studies, Rwanda
Catherine Wijnberg, Founder & CEO, Fetola, South Africa
Lifetime Achievement Award
Rina Gunter, Founding Partner, Gunter Attorneys, South Africa
Dalia Ibrahim, CEO, Nahdet Misr Publishing House, Egypt
Anke Weisheit, Co-founder & Chair, PHARMBIOTRAC, Mbarara University of Science and Technology, Uganda
Tickets for the AWIEF2023 Conference and Awards are available online at: https://apo-opa.info/
3JHKUem. Distributed by APO Group on behalf of Africa Women Innovation and Entrepreneurship Forum (AWIEF).For more information and media enquiries, email: info@awieforum.org
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About Construction of the Tamale-Yendi-Zabzugu-Tatale Highway
……As Eastern Corridor Road Stakeholders Meeting ends in Yendi
Mohammed A. Abu
A stakeholders meeting of the construction of the Tamale-Zabzugu-Tatale road project has successfully ended in Yendi, the seat of Dagbon Kingship in the Northern Region of the West African nation of Ghana.
A Ghana Ministry of Roads and Highways project-level grievance mechanism to address emerging grievances and complaints of dwellers of the affected communities in the project catchment area and a collective resolve by all parties with interest in the project, to keep their eyes on the project and report any observation, action or inaction deemed inappropriate, were the major outcomes of the event.
Lead Convener
With Concern Citizens of Yendi as lead convener, the meeting which was intended to deliberate on Project brief for LOT2, citizens’ expectations, emerging grievances and complaints, decisive actions on complaints among others, drew many participants representing stakeholder institutions and other various parties with a common interest in the project.
They included the Regional Highway Authority (GHA), representatives from GHA Head Office, Accra, representatives of the Ministry of Roads and Highway (MRH), a representative from the Royal Gbewaa Palace, the Sang-Lana, representative of the Mion-Regent, Savana Signatures, the Contractor (CJIC & CSCEC), among several others.
LOT2 Project Brief
The Ghana Highway Authority is the implementing Agency of the project scheduled for completion on 4 th August, 2028. Under the Transport Sector Improvement Project (TSIP), the project was awarded on a modern contract system known as the Output and Performance Based Road Contract (OPBRC).
The OPBRC contract system is underpinned by the “Tell me what you want but not how to do it” concept which unlike the traditional contract system where the contractor has to finish the entire construction works before payment, the OPBRC system recommends payment, if a maximum of 10km and a minimum of 5km work is completed.
The contractor is expected to use three (3) years for the construction works and a 4-year maintenance work implying that, portions that see an early completion will be under maintenance up to the seventh year of the contract duration.
The LOT2 stretch of the highway is a single carriageway un-asphalted road that will have roadside drains, 46 box and pipe culverts, 2 bridges, streetlights and sidewalks as well as stopping lanes and bus bays in the urbanized communities.
However, 2.6km of the road into Yendi from Tamale will experience a one-way couple upgrading. All fibre optic infrastructure installations from Tamale to Yendi and to Tatale border post will be installed.
Expectations of Citizens
Some socio-economic development interventions that come along the project are: the provision of eight basic schools, eight bole holes and one clinic to some communities alone the stretch.
These interventions according to the GHA, were arrived at through a need-based assessment conducted by a consultant in 2019, which was also reviewed in 2021 to reflect the priority needs of the people.
Nanton-Zuo in the Tamale Metropolis is one of the beneficiary communities of an 8-unit classroom block. Participants were happy about these ancillary project interventions but however questioned who and which communities the consultant consulted on the need-based assessment?
Open Forum Session
During an open forum session, the event lead Convener came out with a list of questions bordering on diverse issues while also offering other participants the opportunity to make their inputs.
The issues included need for quality work that will offer value for money, the Yendi township portions of the road be given to the Eastern Corridor Contractor (LOT1) be given first-class road status, the first two culverts before Yendi township be demolished and reconstructed, a paradigm shift from current manual based compacting of side slopes of the road to mechanized based work, the sharp curve near Zobogu which causes lots of accidents be corrected, among others.
The Dagbon Forum’s Tamale Chapter on its part asked why satellite markets were conspicuously missing in those ancillary projects meant for socio-economic intervention needs of the people while the 2nd Vice President of its Yendi Chapter, asked for the number of speed ramps on the highway ton be reduced both in number and in height specifically for reasons of patients’ transportation.
Dagbon Forum Delegation
The Dagbon Forum(DF) delegation was represented led by its Yendi Chapter’s President, Alhaji Mohammed B. Ibrahim while its Tamale Chapter was also led by its President, Mr. Zakaria Adam. Also in attendance, was the 2nd Vice president of DF Yendi Chapter, Madam Kande.
Emerging Grievances & Complaints
The Ministry of Roads and Highways established a project-level Grievance Mechanism to receive, evaluate, and address project-related grievances targeted at communities affected by the project.
Mandate to Receive Complaints and Grievances
Savana Signatures, a non-governmental organization has been mandated by the Ghana Highway Authority to receive complaints and grievances.
Resources
Under the project-level grievance mechanism complaints can be channeled to the Ministry telephony, electronic communication, physically via grievances boxes, grievance officer complaint offices created in both Yendi and Mion for the public to send their complaints directly.
Toll-free number, 0800003333,website address: www.tsipmrhgh.com
Decisive Action on Complaints
Participants pleaded to all the Authorities connected with the project to act decisively on complaints brought before them.
Approval of major Proposal
The Yendi township roads given first-class status, the replacement of the two culverts before entry to Yendi, the Zobogu curve correction, the loose excess chippings on the road that fly and break vehicles windscreens, all received positive approval.
Issue of Compensation
Project Background
In June 2022, Vice President, Dr. Mahamudu Bawumia cut the sod for the construction of a 167km Tamale-Yendi-Tatale road project in the Northern region as part of the Eastern corridor road project.
The Tatale-Yendi-Tamale Road Project is fully funded by a US$150 million World Bank facility which was approved on June 6, 2017, under the Transport Sector Improvement Project (TSIP).
The project is expected to be completed in two years, but under the terms of the contract, the contractors will be undertaking maintenance works for five more years, unlike previous contracts where contractors are obliged to do one year of maintenance. This will bring the total project time to seven years.
The project has been divided into what is called LOT1 and LOT2. The LOT1 stretches from Tatale-Zabzugu to Yendi highway (61.98km) whiles LOT2 is the stretch from Yendi to Tamale highway (106.02km). The Yendi stakeholders’ engagement meeting was for deliberations on LOT2.
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dnata to cut CO2 emissions by 80 per cent in the UAE
Air and travel services provider dnata has taken steps to reduce its environmental footprint across its operations in the UAE.
dnata’s group brands dnata Logistics, Arabian Adventures, Alpha Flight Services and City Sightseeing have switched their vehicles to operate using a biofuel blend.
dnata says that the move will save 80 tonnes of Carbon Dioxide (CO2) emissions per year, equivalent to over 320,000km driven by an average petrol-powered car.
dnata Logistics has switched 31 of its trucks to run on a biofuel blend at its Dubai-based hub. Providing multimodal freight forwarding, logistics, supply chain and road transport services, its trucks cover up to a total 217,000km per month. The move saves almost 35 tonnes of CO2 emissions per year, the equivalent of eight petrol-powered cars driven for one whole year.
City Sightseeing Dubai, a joint venture with dnata Travel Group, operates three tour routes, aiding viewing of Dubai’s top attractions, through the use of 21 open-top, biofueled buses. These cover an average 76,000km per month, removing over 32 tonnes of CO2 emissions each year – the equivalent of the electricity use of four average homes for 12 months.
Alpha Flight Services (Alpha), dnata’s inflight catering joint venture, has already switched five landside vehicles to biofuel blend, and is also in the process of transitioning all of its Sharjah-based airside catering trucks. Alpha now sends its used cooking oil to the biofuel manufacturer and once recycled, it is then reused within its vehicles. One litre of oil recycled into biofuel avoids the emissions of 3kg of CO2, a reduction of 92 per cent compared to diesel fuel use. Alpha’s vehicles cover over 27,000km per month, supporting the company’s catering operations that create over 25,000 meals a day. As a result of the initiative, Alpha will save seven tonnes of CO2 emissions per year, the equivalent of charging over 850,000 smartphones.
Arabian Adventures has also switched the generators at its desert safari camps to a biofuel mix. Arabian Adventures is saving almost five tonnes of CO2 emissions per year as a result of the initiative, equating to 1987 litres of diesel.
Steve Allen, CEO of dnata Group, said, “The introduction of biofuel to a diverse range of our UAE businesses is an important step in our ongoing journey. It offers a simple and effective method of cutting emissions throughout the fuel lifecycle, without requiring any changes to equipment. We will continue to invest in our operations, including large-scale infrastructure solutions, to further enhance our sustainability performance and achieve our green operations targets.”
dnata sustainability initiatives
Dnata’s latest biofuel initiative is part of its efforts to reduce its carbon footprint and waste to landfill by 20 per cent by 2024 in line with its two-year green operations strategy.
In June 2022, dnata said that that it would invest $100m in green operations in two years to enhance its environmental efficiency globally.
The company offers ground handling, cargo, travel, catering and retail services in over 30 countries across six continents. More than 15 per cent of the company’s global fleet is now electrified.
SOURCE
GULF BUSINESS
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Energy Investment Village 2023 Finalists Announced
JOHANNESBURG, South Africa, September 15, 2023/ — Africa’s boldest and most ambitious cleantech start-ups will take part in the Energy Investment Village (https://apo-opa.info/468SsAw), an exciting deal-pitching event at the Green Energy Africa Summit (https:// GreenEnergyAfricaSummit.com), to be held in the heart of South Africa’s Cape Town on 10-11 October at the CTICC2. Held under the theme, “Unlocking Africa’s Sustainable Energy Potential,” the Green Energy Africa Summit (GEAS) will provide unrivalled opportunities throughout its two-day programme for the continent’s leaders in energy, finance, and social development, to meet with international investors, to find sustainable solutions to Africa’s energy needs and a just transition to a green economy.
This highly anticipated event advocates for the harmonisation of Africa’s natural resources, as well as policy reforms, to help usher in an energy transition that ensures the continent remains competitive and attractive to global finance. With over 1000 delegates from 67 countries, GEAS invites both public and private stakeholders across the energy value chain to collaborate, offer solutions, and build partnerships to help unlock Africa’s true socioeconomic potential.
GEAS is thrilled to welcome its strategic industry partners, including The Banking Association of South Africa (https://www.Banking.org.za/) and The African Forum for Utility Regulators (https://AFURnet.org/). This year’s agenda features a strong mix of discussions within dedicated content streams, from the Energy Strategy Forum on day one, to the Green Energy and Green Finance Forums on day two. Attendees can look forward to country and regional spotlights on South Africa and West Africa, as well as sessions led by finance and energy heavyweights. Find the full GEAS 2023 agenda here: https://apo-opa.info/3rfJNxm
The Energy Investment Village (EIV) is the GEAS’s Lion’s Den-style pitching event for cleantech companies, which will be held on 11 October. The finalists will be given an extraordinary opportunity to gain exposure, network with potential clients, and receive vital market validation. Most importantly, they will be given the chance to pitch for funding (https://apo-opa.info/468SsAw) from international investors.
“Africa’s traditional, fossil-fuel-based energy cannot keep pace with its swift development. While the continent’s abundance of natural resources can enable clean energy innovations, constraints like access to finance impedes the opportunities for local clean-tech innovators. Events such as the EIV open up direct pathways to decision-makers and funders, and are a critical enabler of the clean-tech ecosystem,” says RIIS CEO Davis Cook.
In partnership with Saldanha Bay Innovation Campus (https://www.InnovationCampus.
co.za/), RIIS (https://EnablingInnovation. Africa/), and Anza Capital (https://Anza.Holdings/), and supported by Africa Scotland, JSE, Oceanhub-Africa, Savant, Firecracker, CHIETA, and SASOL, the EIV is delighted to introduce the outstanding finalists that have been selected to present their projects, which aim to revolutionise the energy landscape and promote sustainable development in Africa: - Therm Development: Pioneers in sustainable heating solutions, utilising innovative technologies for efficient energy consumption.
- AET Africa: Visionaries in renewable energy systems, specialising in solar and wind power generation across the African continent.
- Ceneco Green Power Limited: Experts in developing and operating environmentally friendly power plants, focused on reducing carbon emissions.
- Energy Cubes: Innovators in energy storage, offering scalable and cost-effective solutions for optimising power distribution.
- Powerstove Energy: Trailblazers in clean cooking solutions, providing efficient and clean-burning stoves for households and communities
- Revive Earth Limited: Leaders in waste-to-energy conversion, turning organic waste into renewable resources while mitigating environmental impact.
- Green Share Virtual Power Plant: Pioneers of a decentralised energy management system, enabling communities to generate, store, and share renewable energy.
- Thinkbikes: Innovators in sustainable urban transportation, designing and manufacturing electric bicycles for eco-conscious commuters.
- FLX EV: Visionaries in electric mobility, offering cutting-edge electric vehicles with a focus on performance, affordability, and sustainability.
- Impact Free Water: Experts in water treatment technologies, providing sustainable solutions for clean and accessible water in resource-challenged regions.
Don’t miss out on the chance to engage with these visionary entrepreneurs and experts, as they demonstrate how their projects will address the energy challenges across Africa. From scalable solutions for rural communities, to innovative grid technologies, these finalists promise to inspire, educate, and shape a greener future for the continent.
Organised by Hyve Group Plc., the Green Energy Africa Summit is where the world connects with the African Energy sector. Register to attend here https://
GreenEnergyAfricaSummit.com/. Attend the Green Energy Africa Summit to be part of the solution and connect with industry leaders, charting the way towards a sustainable clean energy transition for Africa. Distributed by APO Group on behalf of Green Energy Africa Summit.Media Contact:
Amie Sparrow
PR Manager
amie.sparrow@hyve.group -
President Ramkalawan attends official opening of G77 and China Summit in Cuba
16 September 2023 | Foreign Affairs
Havana, Cuba 15 September 2023: The President of the Republic of Seychelles, Mr Wavel Ramkalawan joined fellow leaders of the Group 77 and China Summit of Heads of State and Government currently taking place in Havana Cuba. The two-day summit is taking place under the- guided theme “Current Development Challenges: The Role of Science, Technology and Innovation. ”
The official opening ceremony was held on Friday morning (15th September), where President Ramkalawan was formally welcomed at the International Conference venue by the President of Cuba, President Miguel Diaz-Canel Bermúdez.
During the opening ceremony President Diaz-Canel Bermúdez, welcomed and expressed appreciation to world leaders of the various G77 plus China members states for responding to the call of the summit and for their presence in Cuba. The Secretary General of the United Nations, Mr António Guterres took the floor before the G77 and China Heads of State and Government Summit was officially declared open.
The ceremony was followed by the delivery of statements by Heads of State and Government during the General Debate session. The President was accompanied at the official opening ceremony by the Minister for Foreign Affairs and Tourism, Mr Sylvestre Radegonde.
SOURCE
STATEHOUSE NEWS
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African Union plans to launch its own credit ratings agency
African Union plans to launch its own credit ratings agency
Kenya shilling coins and notes are pictured inside a cashier’s booth at a forex exchange bureau in Kenya’s capital Nairobi, April 20, 2016. REUTERS/Thomas Mukoya
Reuters ImagesThe agency, which would craft its own assessment of the risks in lending to African countries
Libby George, Reuters News
September 12, 2023
ECONOMYAFRICAFINANCIAL SERVICES
The African Union plans to launch a new African credit rating agency next year to address the group’s concerns that ratings given to countries on the continent are unfair, an official told Reuters.
The agency, which would craft its own assessment of the risks in lending to African countries, would be based on the continent, said Misheck Mutize, lead expert for country support on rating agencies with the African Union.
It will also add context to the information investors consider when deciding whether to buy African bonds or lend privately to countries.
“We already have quite a huge interest in the private sector to support the implementation of this,” Mutize said, adding they are targeting a launch in 2024.
The AU, and leaders of member nations from Ghana to Senegal to Zambia, allege that the “big three” ratings agencies – Moody’s, Fitch and S&P Global Ratings – do not fairly assess the risk of lending to African countries, and say they are quicker to downgrade them during crises such as the COVID-19 pandemic.
All three ratings agencies have denied bias and say their ratings follow the same formula across continents.
Moody’s and S&P Global Ratings did not immediately respond to a request for comment. Ravi Bhatia, S&P’s lead analyst for sovereign ratings, told Reuters recently that the agency applies the same criteria consistently all regions.
A Fitch Ratings spokesperson said all sovereign rating decisions use “globally consistent and publicly available criteria” and that all rating drivers were clearly identified.
OUTSTANDING BONDS
Broadly speaking, credit ratings are designed to gauge a borrower’s risk of default, and factor in the terms on which banks and others will lend to them. More than a dozen African countries have outstanding international bonds.
A United Nations Development Programme study in April showed that African countries could save up to $74.5 billion if credit ratings were based on less subjective assessments, citing “idiosyncrasies” in the frequency of ratings actions for African countries as an example.
Mutize said the new agency was a push to change the narrative.
“Our goal has not been to replace the big three…we need them to support access to international capital. Our view has been to widen diversity of opinions,” he said.
“We know the big three follow the opinion of other smaller ratings agencies. They’ve acknowledged that other smaller ratings agencies have got an edge in understanding domestic dynamics.”
AU finance ministers passed a resolution over the summer to endorse the plan for the new agency, an effort spearheaded by the African Peer Review Mechanism (APRM), a branch of the AU formed last year to improve governance across the continent. The full AU executive council is expected to adopt the same resolution in February.
The agency would be self funded and private-sector driven with AU oversight, Mutize said.
“Investors have been quite positive. They want to see what will be the output of this,” he added. “Any investor will pay attention to anything that brings them information.”
(Reporting By Libby George, additional reporting by Marc Jones, editing by Christina Fincher and Ed Osmond)
SOURCE
ZAWYA.COM
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About Tamale Drug Abuse Menace and Court Trial Incident
One of the Northern region’s development oriented organizations, the Dagbon Forum(DF), has appealed to the Chief Justice to intervene so as to ensure that, the on-going trial of a suspect for allegedly dealing in drugs at the Tamale Circuit Court, is not unduly delayed.
This, DF noted, is in view of the recent sad incident that occurred at the court premises during the recent sitting on the case resulting into people sustaining injuries.
It also took cognizance of what negative implications in adjourning a case without giving a definite date would have on a speedy and smooth adjudication of the case while also expressing its sympathies to all the injured during the incident.
The entire Dagbon it noted, is deeply concerned about the drug menace which is slowly eating into the fabric of our society and we humbly implore the judicial service to ensure speedy justice in cases involving drugs, in order to curb the menace and end the gradual destruction of our youth whose lives and future are at stake.
Many Dagbon communities it underscored, have long been plagued by the destructive activities of tramadol peddlers who exploit vulnerable individuals, particularly the youth leading them down a perilous path of addiction and despair and only speedy dispensation of justice can stem the tide.
These were contained in Press Release issued in Tamale, Sunday.
We urge our law enforcement agencies in Dagbon, the release continued, especially those in Tamale to embrace the interest of the public in the drug cases and see it as a sign of public support for them in their efforts to sanitize the community of this cancerous menace, rather than feeling antagonized.
DF firmly believes, it said, that it is the collective responsibility as citizens of Dagbon to protect the future of Dagbon from the perils of drug addiction.
DF while applauding the bravery of the Aboabo/Poloya Fong AntiDrug Taskforce for their dedication to this cause as well as their unwavering commitment to the wellbeing of Dagbon’s youth, also called upon all citizens and residents of Dagbon as well as, all well-meaning groups and individuals nationwide to unite against the scourge of drug trafficking and addiction.
Dagbon Forum also appealed to the public to be mindful of the disruptions massing up can cause to the smooth and speedy flow of the court processes.
“Much as DF would not encourage the public to mass up at the premises of the Courts in the subsequent sittings, it clearly demonstrates the eagerness and resolve of the people to salvage our current and future generations from the consumption of those destructive hard drugs.
“Dagbon Forum is therefore appalled by the high-handedness with which the police handled the crowd that day. Dagbon Forum holds the view that the police in the cause of their training are trained on how to handle unarmed civilians during crowd control.
“Equally disturbing are the cases of seized and missing motorbikes owned by members of the public who gathered at the Court premises. This is least expected of a policeman who is trained and employed to maintain law and order. DF therefore calls on the Police authority to take the matter seriously and deal with the said officers drastically if the allegation is proven to be true.
“DF wish to appeal to the police authorities to appreciate the interest the public has in the trial of Alhaj Osman and therefore ensure the safety and security of all parties involved and the broader community during the subsequent hearings.” the release added.
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Message from Rugby Africa President Herbert Mensah to South Africa’s Springbroks amidst the 2023 Rugby World Cup
CAPE TOWN, South Africa, September 10, 2023/ — As South Africa prepares for their opening game today, Herbert Mensah, the newly elected President of Rugby Africa, (www.RugbyAfrique.com), the continental governing body of rugby across Africa, issues letter addressed to Mark Alexander, President of the South Africa Rugby Union:
A warrior fights with courage, not with anger. African proverb
From the four (plus) corners of the greatest continent in the World, AFRICA We wish You, The Springboks well. We stand by You as we love, respect and honour You and with all the collective strengths of our Gods and our Ancestors We pray for You!
You are “Our” World Champions (1995, 2007 and 2019) …. all 1.3 billion of us. You give us hope and send the message that the rainbow stretches from Ras ben Sakka (most northerly point of Africa) to the Cape Aglhas (South Africa) and from Cape Verde Peninsula (most westerly point of Africa) to Xaafuun (Hafun) Point, near Cape Gwardafuy, Somalia (most Easterly point of Africa).
Rugby Africa watched with keen interest as head coach Jacques Nienaber named the South Africa Rugby World Cup squad and we knew that this squad would be ready for the battle. Winners all. What will the opposition squad do with seven mighty forwards on the benchFORWARDS
Props
Vincent Koch
Ox Nché
Frans Malherbe
Trevor Nyakane
Steven Kitshoff
Hookers
Bongi Mbonambi
Malcolm Marx
Locks
Marvin Orie
RG Snyman
Jean Kleyn
Eben Etzebeth
Back-rows
Marco van Staden
Jasper Wiese
Kwagga Smith
Pieter-Steph du Toit
Duane Vermeulen
Siya Kolisi (captain)
Utility forwards
Franco Mostert
Deon Fourie
BACKS
Scrum-halves
Faf de Klerk
Jaden Hendrikse
Grant Williams
Cobus Reinach
Fly-halves
Manie Libbok
Damian Willemse
Centres
Andre Esterhuizen
Jesse Kriel
Damian de Allende
Back-three
Canan Moodie
Cheslin Kolbe
Makazole Mapimpi
Kurt-Lee Arendse
Willie le Roux
Mark from the tribes of the Zulu, Masaai, Berbers, Fula People, Nubians, Somalis, Oromo People, Shona People, Habesha Peoples and my own Ashanti representing some of the most famous warriors in our history, We are ready to share and carry your pain and propel you to victory.
We are proud of You
Herbert
Distributed by APO Group on behalf of Rugby Africa.
Media contact:
Nicole Vervelde
Communications Advisor to the President of Rugby Africa
rugby@apo-opa.com