The Nigerian authorities have engaged the Organisation of Petroleum Exporting Countries (OPEC) in talks on the outlook of the country’s petroleum sector post covid-19 pandemic. The bilateral meeting has sent yet another signal of the strong dialogue and cooperation between OPEC and Africa’s biggest producing country.
Dr. Ayed S. Al-Qahtani
Such a dialogue is key for compliance with the OPEC global production cuts deal of April, to which all of OPEC’s African member countries have agreed to. Nigeria’s support to global market stability and energy cooperation is significant and gives confidence to operators and future investors seeking to do business in West Africa.
“African producers and service companies are the hardest hit when there is volatility in the market. H.E. Mohammed Sanusi Barkindo and Dr. Ayed S. Al-Qahtani leading these discussions sends a strong message that collaboration and sticking to the principles of a stable market is good for Nigeria, its producers and the economy at large,” stated NJ Ayuk, Executive Chairman at the African Energy Chamber.
“We continue to support the Government of Nigeria, and the country’s Ministry of Petroleum Resources in their effort to improve the environment for investment and getting the industry to rebound post-Covid-19. We believe they are right in making this a priority and we welcome the bold initiatives by Nigeria’s leadership,” he added.
Nigeria’s ongoing Marginal Fields Bidding Round was launched in earlier this year and has already been met with significant success, reportedly attracting hundreds of bidders. The round is expected to result in a new wave of local content development in Nigeria, a country already widely regarded as the most successful example of local content and capacity building across the continent.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Ethiopian civil society organisations under the aegis of the World-Wide Ethiopian Civic Association Network (WE-CAN) has commenced a campaign to forstal efforts by some groups in the country to get the Nobel Committee to revoke Prime Minister Dr Abiy Ahmed’s Nobel Peace Prize award.
Ethiopia ‘s Prime Minister Abiy Ahmed
This followed recent developments where the Norwegian Nobel Committee recently received a letter from some groups and individuals urging it to take measure of revoking the award to the Prime Minister.
In its letter, the network expressed its confidence that that committee would not entertain such requests. It went on to say that “no leader in the country’s history assumed power facing so many intricate internal and external challenges as did Prime Minister Dr Abiy.”
Despite the challenges he faced, the Prime Minister took decisive measures that propelled the country to a path of peace and democracy, it added.
After releasing all political prisoners, he immediately ended the long-standing conflict with Eritrea as well as invited all previously exiled opposition groups to return to Ethiopia, it stated.
Moreover, he allowed private media to operate freely and openly and most impressively, he led the greatest environmental campaign by organizing and leading a reforestation program where Ethiopians of all walks of life planted a record 353 million trees in 12 hours, it added.
“What we need is not a revocation of a well-deserved peace prize. This is a time to build upon the progress we made,” said the network.
WE-CAN also urged all Ethiopians at home and abroad as well as friends of Ethiopia across the world to come together to avert the danger facing the country.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
In the year 2000, a bipartisan U.S. policy called The African Growth and Opportunity Act (AGOA) was passed into law. AGOA was created to provide goods originating from eligible African countries the opportunity to receive duty free preferential treatment without quota, when entering the U.S. market. This policy was expanded during President Bush’s era and was also extended to expire in September, 2025 by President Obama. AGOA was touted to transform U.S. – Africa trade relations and also to ignite mutually beneficial economic growth through good governance and free market access. Among experts, it is agreed that this policy has not lived up to its hype and here are 5 reasons why I believe AGOA has remained gravely underutilized.
Toyin Umesiri is the CEO of Nazaru LLC and founder of Trade With Africa Summit.
Politics not Business
U.S. and African government leaders are no strangers to AGOA. It has sat on the books for 20 years and every year the AGOA forum is held to engage and assess its performance. I have found however, that outside of Washington, D.C., the U.S. Business and Buying Community have largely never heard about this policy before. Those who have heard about it use it for importing Oil but opportunities in Non-Oil export from Africa, for over 6,000 eligible items and commodities, remain yet to be captured. The U.S. government has failed to sensitize and galvanize the U.S. business community behind this policy like we have seen done for policies such as USMCA. The marketing of AGOA to U.S. buyers and its supply chain cost savings benefit has yet to happen.
Limited or no Training of US Border Patrol Agents (USP)
In the fall of 2018, after just moving to Chicago I made the attempt to import items under AGOA here. My experience was horrible and shocking to say the least. The USP officers I tried to work with to clear my items insinuated that AGOA did not exist. My interaction with them turned into a mild argument and I had to bring out my phone to show them the AGOA website. The officer I was initially speaking with after seeing the website called on two more officers asking them “Do you know anything about this?” to which they both said No. They eventually said they couldn’t help me that I should go and work with their recommended Agent. I wish I could tell you that my interaction with the “USP recommended Agent” was any better; it wasn’t – it was actually worse.
The Agent tried to walk me out of their office because I was insisting on using a policy they had never heard of before. They even made a point to say they have been in operations for decades and I was not in the position to tell them how to do their job. I insisted on speaking with the Manager… To summarize I eventually was able to explain all over again how AGOA worked and that my items were eligible. It took 2 weeks of back and forth with this team before they could figure out how to apply AGOA benefits to my items by what time my goods had entered demurrage. So, in my opinion, if by 2018 USP Officers and top Agents in U.S.’s 3rd largest city; Chicago, have no idea what AGOA is and how to apply it, AGOA has failed!
Access to information
Utilizing AGOA is not a streamlined process. In fact, because of my work in leading Trade with Africa discussions, I have asked those who run African Stores in the U.S. if they have ever heard about it. They keep importing eligible items and paying tariffs on eligible items because no one has bothered to educate or inform them of the cost saving opportunities. You have to know that the way AGOA is designed; if you do not request to use it CBP and Agents will take you through the regular process. It is the responsibility of the importer to stay informed and to initiate AGOA should they want to leverage it and not the regular tariff paying process. Information on AGOA is not readily available and for 20 years not much has changed in the way people import from Africa due to lack of published information and publicly available educational content. The reality is that if you are not searching for information about AGOA you will not encounter information about AGOA. That is why my company in 2019 created an AGOA training E-Course to help those importers to learn how to navigate the terrain. I do not want other people to go through the same things.
Africa’s lackadaisical attitude about AGOA
When AGOA was passed, Africa’s leaders must have assumed that it was going to be the U.S. government’s responsibility to mobilize and train Africa Exporters as well as find buyers and initiate Export Promotion and Development initiatives. What has to happen hasn’t happened. Africa has wide access to the US market but they have mostly failed to fully mobilize the exporter community behind it. The collective investment to enter a new market lies squarely on the shoulders of Africans and their government. They have failed to give it first rate attention, educate the world about their export potential, organize the local market as well as invest in establishing strategic partnerships to drive Trade. This has resulted in failure to benefit fully even after 20 years.
U.S. Buyers and Africa’s Exports yet to connect dynamically: Until U.S. Buyers start engaging directly and transparently at scale with Africa’s Non-Oil Exporters, AGOA will remain a policy on paper. Buyers have to be trained on how to use AGOA, its benefits and opportunities and similarly Exporters across Africa will need to be educated on all U.S. importation requirements to ensure their goods are not rejected but actually they meet all standards.
With the China – US trade war continuing to escalate, the U.S. buying community is exploring alternative sources of supply and I believe Africa holds a unique value proposition for a disrupted supply chain. For example, importing Cashew directly from Africa will provide cost savings since today it is largely exported raw out of Africa into South East Asia before being imported into the U.S. Market. Imagine what cost savings it presents if those items are routed directly from Africa to the U.S. under AGOA.
Toyin Umesiri is the CEO of Nazaru LLC and founder of Trade With Africa Summit.
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
This is probably the longest five months in the life of Dr. Akinwumi Adesina, President of the African Development Bank who in February was accused of impropriety by a group of whistle blowers. The accusations led to an enquiry by the Board of the AfDB in which he was earlier cleared, but the United States leading the Nordic countries refused the outcome of that enquiry leading to controversies and demand for an independent enquiry.
Dr. Akinwumi Adesina, President of the African Development Bank
A panel of independent panel of experts, headed by former Irish president Mary Robinson was then set up last month to evaluate the earlier findings of the Board, and yesterday, they made public their findings, clearing the beleaguered leader of the African Bank of Development (AfDB) of any form of corruption.
Akinwumi Adesina, 60, a charismatic speaker known for his elegant suits and bow ties, became the first Nigerian to helm the AfDB in 2015 — but a 15-page report earlier this year claimed that under his watch the bank had been tarred by poor governance, impunity, personal enrichment and favouritism.
The panel of three experts, led by Robinson alongside Gambia’s Chief Justice Hassan Jallow and the World Bank’s integrity vice president Leonard McCarthy, cleared Adesina of all charges alleged by whistleblowers.
“The Panel concurs with the Committee in its findings in respect of all the allegations against the President and finds that they were properly considered and dismissed by the Committee,” Monday’s report concluded.
The African banking institution and Adesina — who is the sole candidate for the bank’s August’s presidential elections — has been battered by the rollercoaster of allegations after the whistleblowers’ complaints were leaked to the media in April.
The former Nigerian finance minister had always stated he was “innocent” of the charges.
Robinson — who led Ireland from 1990 to 1997 before serving as the United Nations High Commissioner for Human Rights until 2002 — dismissed the 16 whistleblower allegations against Adesina.
The panel did not investigate the charges themselves, as that was not within their mandate.
The AfDB plays an important if largely behind-the-scenes role in African economies, financing projects in agriculture, health, energy, education, transport and other development sectors.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
When the government first announced a national lockdown back in March, countless businesses were left scrambling to make working from home work. Sure, distributed work was probably on the cards for many of these companies but being forced to enable your entire team to work remotely in a matter of days is easier said than done.
Travys Wilkins, Executive Director at SureStart South Africa
A 2017 report from McKinsey & Company, which focused on digital disruption in insurance, stated that CEOs cannot simply “sanction” digital transformation; they need to communicate their digital strategy with the company and then outline why it’s important to make the changes they’re planning to make. But when a global pandemic strikes, there isn’t much time to have these conversations. You need to act and adapt. And you need to do so as quickly as possible.
At SureStart (www.SureStart.co.za), as a digital-first business, we were lucky because we could make the transition to distance work fairly simply. But beyond the nuts and bolts of digitising and keeping things running internally, we’ve also seen a shift in consumer buying behaviour. Where insurance was traditionally sold via a broker face-to-face, social distancing measures mean that customers have had to get comfortable with buying insurance via digital channels.
And this is where things could get tricky for the industry.
For the most part, customers don’t buy insurance; they’re sold insurance. But in an online world, the onus is on the customer to seek things out. Until there is a mind shift on the consumer side – towards buying insurance, not being sold insurance – it’s likely that we’ll soon see a move back to pre-COVID norms. But this doesn’t mean that insurers should hold off on using this opportunity to leverage digital to automate and streamline their processes. In fact, I’d argue that the “new normal” will be a more hybrid model, with outbound staff complemented by digital channels.
This is especially important when it comes to client support staff.
Something a lot of people have struggled with during the lockdown is uncertainty. The businesses that have been open and transparent with their customers, those who have communicated effectively, are the ones who will come out of this looking good. If your advisors, call centre agents and brokers aren’t able to communicate with customers face-to-face, you need to make sure that there are other channels in place so that your clients aren’t left in the dark.
According to a recent Deloitte report, modern insurers need to understand that traditional principles don’t hold the same value as they used to. If insurers want to drive the disruption needed to stay relevant among consumers who expect seamless experiences at every touch point, they need to embrace a new approach.
Our shift to remote work happened fairly easily but that doesn’t mean that our lockdown experience has been hurdle free. We’ve seen losses due to product exposure in travel and entertainment, which emphasises the importance of product and distribution diversification.
Winston Churchill once said that you should never waste a crisis and I think this sentiment is especially true today. Businesses must use this situation to better prepare for the future. When you have the right solutions, technologies and strategies in place, it’s easier to adapt when things aren’t going according to plan.
Travys Wilkins, Executive Director at SureStart South Africa.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
Anne O. Krueger argues that areas that eased their initial COVID-19 lockdowns and now have surging infection rates are a testament to all that has gone wrong in the pandemic. The lesson from day one still holds: until the virus is defeated, there can be no return to normal.
Anne O. Krueger, former World Bank chief economist
The future of the world economy is becoming clearer. At the outset of the pandemic, there were lively disagreements over whether the lockdown and other measures were warranted, or whether the economic costs were too high. Now, it is increasingly evident that economic activity will resume fully only after lockdown restrictions have been given time to work. Otherwise, COVID-19 will continue to spread, making a sustained and rapid economic recovery all but impossible until the arrival of effective, widely available vaccines.
When the coronavirus first began to spread beyond China, triggering an immediate, sharp reduction in the level of economic activity and employment where lockdowns were imposed, epidemiologists tried to educate the public (and the authorities, in many cases) about what would come next. They warned that the virus would not be sufficiently contained until its R number –the average number of people infected by a sick person – is less than one. At exactly one, each sick person infects one other, and the number of COVID-19 cases remains constant over time. An R number below one, scientists explained, could be achieved much faster with tighter restrictions and effective testing and contact tracing to isolate positive cases.
In locations where shelter-in-place orders and other measures have been all-encompassing, outbreaks have been stabilized, and the R number has dropped within just two or three weeks. In some places, COVID-19 cases surged exponentially early on, leading to self-quarantine being more common. And because a high percentage of people in hotspots complied with the lockdown recommendations and tracing and testing (likely out of fear), the epidemic curve was quickly dampened.
By contrast, in locations where lockdown restrictions were initially mild or nonexistent, fewer people took steps to avoid contact or prevent transmission of the virus, or were more casual about such precautions, and cases duly increased. To be sure, additional location-specific factors have influenced the spread of COVID-19. But the clear takeaway from around the world is that the scope of lockdown restrictions, and the degree to which they are followed, is the single-most important factor in weathering and then recovering from the pandemic.
Unfortunately, in the United States, in particular, popular resistance to restrictions mounted just when continued public compliance was needed. Some politicians and commentators insisted that the economic costs of saving a life were too high relative to the costs inflicted on those suffering a loss of income or medical care for other conditions. This burst of public pressure won the day. Despite epidemiologists’ warnings, the initial lockdown restrictions were relaxed too soon in many US states.
Worse, as soon as these reopenings began, many people returned immediately to their old habits, ignoring recommendations for social distancing, avoiding crowds (especially indoors), wearing a mask, hand washing, and other preventive measures. Factories reopened, and many retail establishments and other services resumed operations, albeit at reduced capacity. For a short time, output and consumer spending rose significantly, and the unemployment rate started falling (though it remained high). But in most cases, these reopenings started with an R number close to or above one, which guaranteed that as soon as people started relaxing precautionary measures, the number of infections would begin to rise again.
The result is a lose-lose scenario. Current conditions are conducive to neither a sustained improvement in economic activity nor a sustained reduction in COVID-19 cases. If health workers, medical equipment, and testing capacity had been available and properly allocated, public-health authorities might have been able to undertake contact tracing and quarantining on a level sufficient to curb the spread of the virus. That is what happened in countries like Germany, New Zealand, and South Korea, as well as in cities like New York, which has gone from being the hardest-hit place in the US to achieving an R number of around 0.4-0.5.
For testing to be effective, results must be provided quickly, to alert carriers of the virus who might otherwise come into contact with others. The problem is that testing materials and equipment have been in short supply, especially in hotspots. Now that the R number is rising at an alarming rate, some US hospitals are already overwhelmed, and, with their workers falling ill, some reopened factories have had to close again. The authorities in highly affected southern and southwestern states are already reversing their earlier relaxation of restrictions and imposing additional ones.
But even in places where people have adhered to precautionary measures and the R number has not risen significantly, the growth rate of consumption has started to decline. Consumers simply cannot be confident that any reopening will be sustained, and businesses see too much uncertainty to commit to longer-term investments. The tragedy is that if the lockdowns had been effective and enforced everywhere, a quick V-shaped recovery would have been entirely possible. But that didn’t happen, and now the recent upswing appears to be faltering.
The best hope for the global economy is that everyone will recognize that the epidemiologists were right all along. The premature relaxation has inflicted unnecessary additional costs, both in terms of health and economic wellbeing. Public adherence to restrictions on a scale sufficient to bring R number below one would be the best form of economic stimulus imaginable.
An R number well below one would mean that when restrictions were removed, consumers and businesses could have confidence that the resulting economic (and health) upturn would continue. A return to normal economic and social activity would happen quite rapidly.
The twin goals of defeating the virus and reviving the economy are not contradictory but rather one and the same. The virus will dictate the pace at which we can safely resume economic activity. And it is the public’s adherence to preventive measures that will determine the pace at which the virus is defeated.
Anne O. Krueger, a former World Bank chief economist and former first deputy managing director of the International Monetary Fund, is Senior Research Professor of International Economics at the Johns Hopkins University School of Advanced International Studies.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The 2020 Africa’s Business Heroes (ABH) prize competition, a flagship philanthropic program established by the Jack Ma Foundation’s Africa Netpreneur Prize Initiative (ANPI), has shortlisted the top 50 finalists from stage one of the selection process. The fifty entrepreneurs will continue their journey in the competition, for a chance to become one of the ten entrepreneurs that will compete in the grand finale later this year.
Abdelhameed Sharara, Founder & CEO of RiseUp
The 50 were picked out of over 22,000 applications that came in from all over Africa, representing twenty-one African countries, half are female, and work in 18 sectors like agriculture, AI, e-commerce, fashion, healthcare, renewable energy and ICT. The top 50 finalists were selected from applications from across all 54 African nations and they represent 21 African countries, half are female, and work in 18 sectors like agriculture, AI, e-commerce, fashion, healthcare, renewable energy and ICT; Finalists will advance to the next round of selection and will participate in an exclusive virtual boot camp on July 28.
The diversity of the finalist roster reflects the aim of Africa’s Business Heroes to be inclusive and grassroots, providing entrepreneurs from all over Africa with a platform to showcase their talent and business ideas, regardless of nationality, industry, age or gender. The 2020 top fifty finalists come from twenty-one countries (Algeria, Benin, Botswana, Cameroon, Côte d’Ivoire, Democratic Republic of the Congo, Egypt, Ethiopia, Ghana, Kenya, Liberia, Morocco, Mozambique, Namibia, Nigeria, Senegal, South Africa, Tanzania, Tunisia, Uganda, Zimbabwe) and eighteen sectors, such as: agriculture, AI, Big Data, business services, construction, education, engineering, e-commerce, fashion, financial services, healthcare, ICT, logistics, manufacturing, management services, retail, renewable energy, and transportation.
The average age of the cohort is 37 with the youngest candidate aged 22 and the eldest aged 64. 50% of the candidates are female – a 24% increase from the debut competition last year, and 32% are francophone, reflecting this year’s competition opening applications in French for the first time.
Over the past month, a panel of 140 highly skilled and experienced judges reviewed the submissions, evaluating applicants’ leadership and vision, their ability to translate their innovations and ideas into sustainable and robust business models, and their commitment to create positive impact to uplift their communities. Judges, whose unrivalled knowledge and industry expertise has brought immense added value to the selection process, represented a variety of key sectors in Africa, such as agriculture, tech, retail and e-commerce, education, healthcare, finance, logistics, and tourism.
Before stepping into the second round of selection, which will determine the top 20 finalists, the fifty selected entrepreneurs will be invited to join an exclusive virtual boot camp hosted by the Africa’s Business Heroes team on July 28th. The boot camp represents a further opportunity for aspiring candidates to access unparalleled knowledge and insights from across the ABH network. It also aims to build up finalists’ management and leadership capabilities and ultimately increase not only their chance of progressing to the next stages of the competition but to further develop as entrepreneurs.
During the boot camp, they will have the chance to receive feedback from round 1 judges such as Rafeh Saleh, Director of the Founder Institute and Omolara Awoyemi, Senior Program Manager at Facebook. Participants will also have the opportunity to attend interactive workshops with industry and business leaders, who have been partnering with ABH this year, including Abdelhameed Sharara, Founder & CEO of RiseUp; Patrick Awuah, Founder & President of Ashesi University, and Sebastien Nony, General Partner of Janngo Capital. It will also feature a few of the 2019 finalists who will provide advice and insights on their own journeys.
The selection process to spotlight the 2020 Africa’s Business Heroes finalists will continue throughout the summer. Following round 2 interviews and the semi-finale pitch, the top 20 and top 10 finalists will be announced in August and September respectively. ABH will culminate in a grand finale show later this year, where the top 10 finalists will take the stage to pitch business legends – including Jack Ma – for a chance to win their share of a US$1.5 million prize pool.
A number of round 1 judges commented on their experience with Africa’s Business Heroes, noting:“I am thrilled to have served as a judge for the Africa’s Business Heroes competition. It’s been an honour to help identify business heroes from Africa that are genuinely committed to changing the game in their respective industries. In these challenging times, getting to discover how the ABH applicants manage to turn challenges into opportunities, with a real sense of purpose and dedication to improve the conditions of people in their communities strengthens my belief in the promise of entrepreneurship in Africa.” said Isadora Bigourdan Bryden, Team Lead at Agence Française de Développement.
“Driven by the spirit of entrepreneurship, the tangible benefits of social good, and a strong sense of community pride, this startup competition is special – showcasing many promising ideas and a diverse group of African startups. It’s been inspirational to see these founders, deeply rooted and passionate, create change in their world.” commented Triane Chang, Silicon Valley Startup Advisor.
“It is truly heartwarming to see that so many young entrepreneurs are working passionately to drive high-impact social projects across the African continent. The judging process was not an easy task as all participants submitted very high-quality applications with compelling business propositions. As the competition progresses, I look forward to following the finalists’ journey and how they will use their talent and skills to generate positive change in their communities and beyond.” added Firas Ezzeddine, Manager, Group Strategy at Philips.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
The government of Burkina Faso is partnering with Sweden to set up a National Measuring, Reporting and Verification (MRV) system. The MRV concept which was firstly introduced at the Conference of the Parties in Bali in 2007 (COP 13), and it designates a set of processes and procedures that allow the collection and reporting of ”factual information (data), its assessment and verification to determine if, when and how countries have met their respective obligations in the implementation of climate actions. Originally designed to monitor compliance with quantified commitments to limit greenhouse gas (GHG) emissions from developed countries, the concept has evolved a lot since to also apply to the efforts of developing countries in the following areas: Greenhouse Gas (GHG) emissions, mitigation, and adaptation, necessary support received in terms of financial, technological and capacity building. Part of the United Nations Framework Convention on Climate Change (UNFCCC) and its related instruments, the Kyoto Protocol and the Paris Agreement, Burkina Faso must set up its National MRV system to meet the requirements, particularly for the monitoring and reporting.
Dr. Malle Fofana, Country Representative of GGGI in Burkina Faso
Thus, the Paris Agreement negotiated in December 2015 has established a universal and harmonized measurement, reporting, and verification (MRV) provisions for climate change mitigation. A common system for transparency now applies to all countries. The MRV system is essential for the effective implementation of the Nationally Determined Contributions (NDCs) under the Paris Agreement, which outline countries’ mitigation goals and policies. Greenhouse gas measurements are needed to identify emissions trends, determine where to focus the efforts on greenhouse gas (GHG) reduction, track mitigation support, assess whether mitigation measures planned under the NDCs are proving to be effective, assess the impact of the support received and monitor the progress made in reducing emissions. Reports and verifications are important to ensure the transparency, good governance, accountability, and credibility of results, and to build confidence in the efficient use of resources. The term MRV is widely used in the field of climate change, but often without clear reference to the type of MRV; and this often leads to confusion as to the underlying nature of MRV’ related activities differs, depending on their context and application.
It is intending to support Burkina Faso in strengthening its transparency framework that the Swedish Cooperation (SIDA) has funded the Project “Development of a Measurement, Reporting and Verification System (MRV) in Burkina Faso», project implemented by the Global Green Growth Institute (GGGI). The main objective of this 36-month project is to support Burkina Faso in meeting the requirements of the enhanced transparency framework under the Paris Agreement, by focusing specifically on the MRV of actions, which include both the mitigation and adaptation actions, undertaken by Burkina Faso to achieve the objectives of the UNFCCC Convention, and provide clarity and monitor progress towards the achievement of the country’s NDCs. Having a strong national MRV system will help the Government of Burkina Faso to achieve the following two objectives.
The first objective is to achieve a systematic, integrated, and robust GHG data system to strengthen, harmonize, and mainstream national mitigation policies and targets that are in sync with national development priorities. The second objective is to prepare for higher, more stringent reporting requirements of the Paris Agreement
The project implementation partners include national Institutions, in particular, the General Directorate of the Green Economy and Climate Change of the Ministry of Environment, Green economy and Climate change, the Permanent Secretariat of the National Council for Sustainable Development (SP / CNDD), accountable for the project results 1 on the establishment of the national MRV system and the National Institute of Statistics and Demography (INSD) in charge of the project result 2, on Strengthening the country’s capacity to prepare for precise GHG inventories. Since its effective start in December 2019, the project is carrying out a rapid assessment activity to better identify the gaps and opportunities in climate MRV in Burkina Faso.
This step in the process is capital, insofar as it makes it possible to take stock of the situation and propose recommendations, to concretely set up a robust and effective national MRV.
Under the aegis of the Ministry of Environment, Green Economy and Climate Change, a National consultation workshop on MRV was held in Ouagadougou on July 21st and 22nd, 2020, as part of the implementation of the MRV project, by the Global Institute for Green Growth (GGGI). The meeting brought together participants from more than 30 national Institutions. It should be remembered that the MRV project is funded by the Swedish Government and implemented by GGGI in collaboration with the General Directorate of Green Economy and Climate Change, the Permanent Secretary of the National Council for Sustainable Development (SP / CNDD) and the National Institute of Statistics and Development (INSD).
The main objective of the workshop was not only to present the first results of the project, but also and above all, to obtain the commitment, ownership, and buy-in of the various stakeholders at the national level. The Project’s first results presented are organized around two documents, the first on the review of existing climate MRV systems and, the second, on the mapping of actors at the national level.
“All countries, especially developing countries, have to establish a robust national MRV system in place for more transparency and accountability, and GGGI is pleased to support this transition,” said Dr. Malle Fofana, Country Representative of GGGI in Burkina Faso. “Sweden Embassy is keen to support Burkina Faso in this transition that allows the country to have more transparency” reiterated Mr. Björkdahl representing the Sweden Embassy in Burkina Faso.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
There seems to be light at the end of the tunnel for the sports and entertainment industry as an African company sets up a special unit to focus on legal issues relating to sports and entertainment by offering local and international companies and stakeholders a full suite of legal and management services. The setting up of this special legal unit by international legal consultancy firm Centurion Law Group is in recognition of the growing importance of athletes, entertainment, sports, advertising, and media industries to the regional and the global economy.
Oneyka Ojogbo, Sports & Entertainment Practice Head
In order to further support the rapidly growing sports & entertainment industry across Africa, Centurion Law Group is delighted to announce the launch of a new dedicated practice. This stems from the fact that across sub-Saharan Africa, sports, media and entertainment have increasingly become revenue-generating industries for African countries, pillars of jobs creation, and important drivers of economic diversification. Beyond just Nollywood, the African entertainment and sports industries have become at the center of global investments, and have capitalized on increasing technology adoption to become globally competitive.
“With its track record of delivering high-profile and high-quality deal making, Centurion is the perfect fit for Africa’s sports, entertainment and media industries,” stated Oneyka Ojogbo, Sports & Entertainment Practice Head. “We are witnessing the rise of a true African sports & entertainment industry that now requires the best possible legal and business support services coming out of the continent itself,” she added Ojogbo.
As the industry grows and attracts investments, it is even more crucial to adequately protect its essence, local players, revenue streams and overall bankability. Centurion’s new practice will offer a bridge between the private and public sector, ensuring that regulations embrace market trends, promote an enabling environment for investors, and protect the interests of African entrepreneurs and companies operating in that space.
“Our job goes beyond legal advice. We provide counsel for career and life, and help clients build a business around their brand, protect their assets, and take advantage of strategic business opportunities during and after their career,” concluded Ojogbo. The practice will be offering local and international companies and stakeholders a full suite of legal and management services including finance, licensing, intellectual property rights and enforcement, competition, advertising, representation and negotiation, sponsorship, investments and compliance.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
As the spread of Covid-19 across Africa grows, there are concerns that the continent may suffer great economic losses unless interventions aimed at mitigating impacts of the pandemic are launched across the board. This was behind the ongoing disbursement of millions of dollars from the African Development Bank of multi-country grant for COVID-19 response in Gambia, Liberia and Sierra Leone and also Ghana. The grant from the African Development Fund (ADF) aims to mitigate the impact of COVID-19 in The Gambia, Liberia and Sierra Leone, known collectively as the GLS countries – by providing budget support to help fund each country’s COVID-19 crisis response.
Marie-Laure Akin-Olugbade, AfDB’s Director General for West Africa
The multi-country grant comprises an ADF grant of UA 5 million and a TSF grant of UA 5 million to the Republic of The Gambia; an ADF grant of UA 10.15 million to the Republic of Liberia; and an ADF grant of UA 18 million to the Republic of Sierra Leone. Gambia, Liberia and Sierra Leone are countries in “transition,” with similar challenges regarding macroeconomic stability, fragility, competitiveness and growth. Liberia and Sierra Leone were severely impacted by the Ebola pandemic between 2014 and 2016, while The Gambia is undergoing a transition after the departure of President Yahya Jammeh in 2016.
Upon declaration of the first cases of COVID-19 in the three countries in March, they took urgent steps to put in place contingency plans to prevent and contain the virus. However, infection cases have been on the rise. As of 22 July, there were 146 confirmed cases in The Gambia; 1,114 cases in Liberia; and 1,731 cases in Sierra Leone. The direct beneficiaries of programmes financed by the grant will include vulnerable female-headed households, orphans, and school-going children. The business community, and targeted small and medium-sized enterprises in particular, will benefit from economic resilience support, while the population at large will be cushioned against the effects of the pandemic.
The multi-country grant falls under the framework of the Bank’s COVID-19 Response Facility of up to $10 billion, the institution’s main channel to cushion African countries from the economic and health impacts of the crisis.
Ghana on the other hand got $69 million grant to help upgrade the capacity of healthcare facilities to isolate, diagnose and care for patients, and provide more test kits, pharmaceuticals, equipment and beds. The grant from the ADF, the concessional arm of the African Development Bank will provide fiscal budget support to finance the government’s national COVID-19 Emergency Preparedness and Response Plan, and Coronavirus Alleviation Program.
Specifically, the funds will help to upgrade the capacity of healthcare facilities to isolate, diagnose and care for patients, and provide more test kits, pharmaceuticals, equipment and beds. It will also ensure adequate personal protective equipment (PPE) for health workers and support financial incentives and an insurance package for health and allied professionals.
Ghana ranks fourth in COVID-19 infections in Africa after South Africa, Egypt and Nigeria. As of 24 July 2020, the West African nation has recorded 30,366 cases of the disease, with 26,687 recoveries and 153 deaths. “Overall, the objective is to help contain the spread of the virus, expand testing and ease the impact of the virus on social and economic life, through measures aimed at protecting jobs, sustaining livelihoods and supporting small businesses,” said Marie-Laure Akin-Olugbade, the Bank’s Director General for West Africa.
The ADF grant is a Crisis Response Budget Support operation, disbursable in a single tranche under the Bank’s $10 billion COVID-19 Response Facility. The grant aligns with one of the Bank’s High 5 priorities, namely to “Improve the quality of life for the people of Africa”.
Under Ghana’s COVID-19 response program, all affected persons will receive free treatment and free water supply. Micro, Small and Medium enterprises (MSMEs) will benefit from a soft loan scheme with one-year moratorium and two-year repayment period. The private sector will also benefit from a tax freeze and refund, direct subsidies and a guarantee fund, enabling businesses to access bank credit.
The program also aims to increase the percentage of the population tested from one percent to three percent by the end of December 2020, boost the number of points of entry reporting suspected cases of COVID-19 from 1 to 14 by the end of September 2020, and increase designated treatment centers with adequate intensive care facilities to 100% by end December 2020. As elsewhere, the pandemic has slowed down economic activity in the agriculture, industrial and services sectors. The agriculture sector, in particular, will likely record a lower performance since the disease has coincided with the onset of Ghana’s farming season.
The economy of Ghana, which exports gold, cocoa and oil, is negatively affected by a significant increase in public spending due to COVID-19. Real GDP growth is projected at 2.1% in 2020 compared to 6.1% in 2019, while the current account deficit is forecast to widen to 3.6% compared to 3% in 2019, due to a decline in export earnings and lower tourism revenues and remittances. The COVID-19 pandemic could also deepen inequalities between men and women, with far-reaching health, social, and economic implications, Bank officials noted.
Kelechi Deca
Kelechi Deca has over two decades of media experience, he has traveled to over 77 countries reporting on multilateral development institutions, international business, trade, travels, culture, and diplomacy. He is also a petrol head with in-depth knowledge of automobiles and the auto industry
