COVID-19: Participants at AfDB Webinar For Asian Audiences Says Africa Still A Prime Investment Destination

ABIDJAN/Ivory Coast:  Participants at a webinar to present the African Development Bank’s African Economic Outlook Supplement to Asian audiences on Monday have endorsed the report as critical for post-COVID-19 Africa. The supplement revises the growth projections and outlook for Africa for 2020 and 2021 and highlights the impact of COVID–19 on Africa’s socio-economic landscape. It recommends policy responses to safely reopen economies and accelerate growth recovery. “Despite the COVID-19 pandemic, investment opportunities still abound in Africa,” said Tetsushi Sonobe, the Dean of the Asian Development Bank Institute (ADBI). “Global markets…

World Court Condemns US Govt on Economic Sanctions, Says Action is to Interfere With Its Independence

THE HAGUE/Netherlands:  The International Criminal Court (“ICC” or “Court”) condemns the economic sanctions imposed by the US earlier today on the Court’s Prosecutor and a member of her Office. The new measures, announced pursuant to the US Executive Order 13928 dated 11 June 2020, are another attempt to interfere with the Court’s judicial and prosecutorial independence and crucial work to address grave crimes of concern to the international community as mandated under the ICC Rome Statute. These coercive acts, directed at an international judicial institution and its civil servants, are…

“We Must Help Africa Build Back Boldly, But Smartly,” says AfDB President, Adesina

ABIDJAN/Ivory Coast:  In a speech kicking off his second term as African Development Bank chief, newly sworn in President Akinwumi Adesina unveiled a sweeping vision to consolidate the institution’s successes of the last five years, hone the Bank’s operations and exploit opportunities and urgency created by the COVID-19 pandemic. “The COVID-19 pandemic has changed everything globally. It has thrown Africa’s growth back,” Adesina said.  “Now, we must help Africa build back boldly, but smartly, paying greater attention to quality growth: especially in the areas of health, climate and the environment.”…

African Leaders Reaffirm Support For African Development Bank As President Adesina Begins Second Term

ABIDJAN/Ivory Coast: African leaders on Tuesday reaffirmed their support for the African Development Bank Group and its leadership under Dr. Akinwumi Adesina as he begins his second five-year term with a renewed mandate to foster sustainable development on the continent. In goodwill messages to mark Adesina’s inauguration, Presidents Muhammadu Buhari of Nigeria, Paul Kagame of Rwanda, Alpha Conde of Guinea, George Weah of Liberia, President Sassou Nguesso of Republic of the Congo and Guinea Bissau’s Umaro Embalo, commended the Bank’s interventions, especially its assistance to member states in the wake…

AfDB President: Reps Minority Caucus Congratulates Adesina on Re-election

ABUJA/Nigeria: The Minority Caucus in the House of Representatives has congratulated former Minister of Agriculture, Dr. Akinwumni Adesina, on his reelection as the President of the African Development Bank (AfDB) The lawmakers, in a statement by the Minority Leader of the House, Hon. Ndudi Elumelu, on Thursday 27 August, 2020, described Adesina’s reelection as well-deserved, given his commitment and track record of performance as the President of the AfDB. “Indeed, as lawmakers, we are proud of Dr. Akinwunmi Adesina, whose performance, leading to his reelection as the President of the…

Akinwumi Adesina Re-Elected As President of the African Development Bank Group

ABIDJAN/Ivory Coast:  Dr. Akinwumi A. Adesina has been re-elected to serve a second fiveyear term as President of the African Development Bank Group on Thursday, August 27, 2020 by the Board of Governors of the Bank. A globally renowned development economist and a World Food Prize Laureate and Sunhak Peace Prize Laureate, Dr. Adesina has distinguished himself in driving a bold agenda to reform the Bank and accelerate Africa’s development. He was first elected as President of the Bank on May 28, 2015. As newly re-elected President, Dr Adesina, a…

UN Team Gains Access To Mali’s Keita, Other Detainees

BAMAKO/Mali: The United Nations said Friday it had gained access to Mali’s ousted president while rebel troops said they had released two other detained leaders, in developments that followed mounting international pressure on the new junta. “Last night, a team from MINUSMA #HumanRights went to #Kati in the framework of its mandate to protect human rights and was able to gain access to President Ibrahim Boubacar Keita and other detainees,” the UN peacekeeping mission said. Kati is a military base near the capital Bamako where the detainees were taken during…

Jihadist Drops Leaflets In Yobe, Threatens “War” Against Government, Officials

DAMATURU/Nigeria: The War against insurgent in Nigeria Seems to have no solution on sight as reports had emerged that  Jihadists linked to an Islamic State insurgency group have registered their presence in Yobe State, despite claims from the Nigeria Army that the state is free of terrorists. Islamic State West Africa Province (ISWAP) terrorists on August 20/2020 dropped leaflets in Buni Gari region of the state threatening to attack security officials in the region. ISWAP is a splinter group of Boko Haram. The leaflets, written in Hausa and sighted by…

AfCFTA Permanent Secretariat Commissioned in Accra

ABIDJAN/Ivory Coast: At a ceremony on Monday to commission the permanent secretariat of the African Continental Free Trade Area (AfCFTA), Ghana’s President Nana Akufo-Addo and Moussa Faki Mahamat, chairperson of the AU Commission, reiterated the importance of the body to the continent’s economic transformation agenda. “The economic integration of Africa will lay strong foundations for an Africa beyond aid. Africa’s new sense of urgency and aspiration of true self-reliance will be amply demonstrated by today’s ceremony,” Akufo-Addo said. Ghana was selected as the venue for the headquarters by African leaders…

Malawi to Receive $45.07 Million for National COVID-19 Emergency Response from the African Development Bank

ABIDJAN/Ivory Coast:  Malawi will receive $45.07 million to finance the government’s response to the health, social and economic impacts of the COVID-19 pandemic, following a decision by the Board of Directors of the African Development Fund (ADF) held Wednesday. The package comprises a loan of $24.48 million, and a grant of $20.59 million as direct budget support, and complements an earlier sum of $8.9 million to six countries in the region, including Malawi, under the Bank’s COVID-19 Response grants to the Southern African Development Community (SADC) countries last month. The…