AU - Afrikan Heroes

AU, Ecobank Launch Framework to support Micro-Small-Medium Enterprises (MSMEs)

April 23, 2020

AUDA-NEPAD Chief Executive Officer Dr. Ibrahim Assane Mayaki

To effectively identify and seek ways of supporting micro-small-medium enterprises (MSMEs) which form a large part of individual economies in Africa but have little or no absorption capacity to the effect of the pandemic, the African Union Development Agency (AUDA) and Ecobank Group agreed to collaborate to support small businesses in Africa. AUDA-NEPAD Chief Executive Officer Dr. Ibrahim Assane Mayaki and Ecobank Group Chief Executive Officer Mr Ade Ayeyemi agreed to drive this continental initiative to support African Micro and Small-Medium Enterprises (MSMEs) as they face the economic and social challenges posed by the COVID-19 pandemic. The major objectives of this initiative are to create a one-stop platform which will address the issues, challenges and needs of MSMEs during and post COVID-19, and be an all-encompassing, flexible and comprehensive one-size-fits-all tool for MSMEs in the formal and informal sectors across the continent.

The initiative also aims to identify opportunities and innovative ways to support and protect MSMEs and job opportunities, especially in food and agribusinesses, technology startups, health specialized entities and those operating along with supply chain operations, noting that MSMEs account for an estimated 90% of businesses in most African economies; and coordinate and harmonize initiatives and ongoing efforts that support MSMEs to gain access to information, finance, and fiscal stimulus during the outbreak. The platform also aims to ensure that MSMEs have continuous access to national, regional and continental markets while recommending to policymakers, solutions regarding domestic debts as they are projected to face challenges due to the economic difficulties that the Member States will face.

Speaking on the initiative, Dr. Mayaki highlighted that “the COVID-19 pandemic while affecting global economies, will have a devastating effect on African economies and businesses” adding that “AUDA-NEPAD and Ecobank Group intend to jointly build a continental platform based on our initial ‘100,000 SMEs by 2020’ campaign which will provide an immediate response to the potential impact of COVID-19 on SMEs and job creation on the continent”, said Dr Mayaki. He added that AUDA-NEPAD will leverage on its existing instruments, networks, and programmes to gather stakeholders around a digital platform that showcases and monitors the progress made.

Mr. Ade Ayeyemi remarked that the fragility of some of the African economies is more pronounced with the impact of COVID-19 and therefore continental coordination is essential to support national measures by governments to curb the spread of the virus on the continent. He further underscored that MSMEs which form a large part of individual economies in Africa have little or no absorption capacity to the effect of the pandemic. “As a longtime partner of AUDA-NEPAD, we welcome the opportunity to work with the Agency to co-lead this continental platform that will empower MSMEs with knowledge, resources, mentoring, technical expertise and financial support to ensure the sustainability of their businesses during and post COVID-19. The objective of the continental platform is indeed aligned with the Ecobank vision of contributing to the economic and social development of Africa, our home” said Ade Ayeyemi.

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

Towards an AfroChampions fund to finance the African Continental Free Trade Area (AfCFTA)

August 7, 2019

On the occasion of a high-level meeting convened in partnership with His Excellency Dr. Mahamudu Bawumia, Vice-President of the Republic of Ghana, and bringing together investors, financing institutions and sovereign and private funds, the AfroChampion Initiative has formally launched a private sector investment framework to secure financing for the African Continental Free Trade Area (AfCFTA).

The objective is to mobilize the private sector, in Africa and beyond, through a dedicated blended-finance vehicle to accelerate the continent’s economic integration, by rapidly deploying those infrastructure projects which are critical to successfully delivering the AfCFTA and making it a positive transformation for Africans.

The proposed framework is forward-looking and includes many proposals from the AfroChampions Boma on Infrastructure Financing and Delivery organized last April in Nairobi with the African Union’s High Representative for Infrastructure His Excellency Mr. Raila Odinga.

Considering that key enablers of the AfCFTA are the removal of non-tariff barriers, the deployment of transport and connectivity networks, access to cheap energy, and African economies’ upscaling towards more value-added products, the framework defines a range of priority opportunities as well as structuring projects to be financed, under certain conditions, by the fund set up for that purpose.

Most importantly, the AfroChampions Initiative also provides for an annual benchmarking process to follow up on this program as well as on national reforms transcribing the AfCFTA to improve African states’ cross-border business-readiness.

“With the AfroChampions Initiative, we have found partners committed to our vision of a prosperous and integrated Africa and working to implement practical solutions.

The AfCFTA Private Sector Investment and Financing framework is a very thorough approach: monitoring the AfCFTA agreement’s legal implementation, defining certification criteria qualifying projects eligible for funding, mobilizing the private sector in Africa, and a process to coordinate with the public authorities ” said H.E.M. Albert Muchanga, African Union’s Commissioner for Trade and Industry.

“The African Union’s Summit in Niamey gave us a great opportunity to raise awareness among Heads of State and we hope to be able to move quickly on this ambitious roadmap.”

“To address reluctance and concerns about the AfCFTA, we must demonstrate that it is a major and tangible opportunity for all stakeholders, whether states or companies regardless of size, civil society or individual citizens of the African continent. And this AfCFTA Private Sector Investment and Financing Framework is the best tool for realizing that goal,” said Ali Mufuruki, Vice-President of the AfroChampions Club for the East Africa Region.

“We need to work better together across borders and focus on high-impact regional or pan-African projects – because they are the most likely to attract the volume of funds that we need. This is our main challenge today”.

The participants in the Accra session defined at the end of their workshop a detailed roadmap, including various milestones over the next 18 months. Among the key dates is the presentation of the dedicated fund, scheduled for the 4th quarter of 2019 for the next AfroChampions Boma, the first benchmark and a follow-up report on the AfCFTA implementation and the organization of an exhibition on ‘made in Africa’ early 2020.

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.

Facebook: https://web.facebook.com/Afrikanheroes/

Kofi Annan Centre Collaborates With African Union on Preventive Diplomacy and Dialogue Interventions

July 13, 2019

The Kofi Annan International Peace Keeping Training Centre (KAIPTC) will collaborate with the African Union Commission (AUC) by participating in the validation workshop for the Advanced Mediation Training Curriculum organized on 18th and 19th June 2019 in Addis Ababa, Ethiopia.

This engagement is part of the Centre’s vision to support the African Union in its mandate to promote peace, human security, and development in Africa; it is also in line with KAIPTC’s overall goal “to become the trusted partners of ECOWAS, AU, UN, RECs and member states in the development of their capacity to ensure peace and security in Africa”, and also with its vision “to become the leading and preferred international Centre for training, education and research that are focused on ensuring a peaceful and secure Africa”.

The main objective of the workshop was to validate the curriculum and manual to be used to develop/strengthen participants’ advanced understanding and skills required for the design, conduct, and evaluation of mediation interventions. This intervention is within the framework of the AU Standard Operating Procedures for Mediation Support and the AU Mediation Support Handbook.

Speaking on KAIPTC’s support to the AUC, the Commandant noted that; “KAIPTC & AUC have signed an MoU to strengthen their mutual commitment to the promotion of peace, human security, democracy, good governance and development, conflict prevention, management and peacebuilding in Africa.

In light of this agreement, KAIPTC partners the AUC in the provision of technical support, capacity building, joint initiatives, research, and other activities to solidify conflict prevention, peacebuilding including support to multi-dimensional peace operations”, he stated.

KAIPTC supports the AUC’s mandate through a variety of initiatives that relate to areas of mutual interests. The Centre’s participation in the validation of the curriculum/manual of the AUC’s Advanced Mediation Training was one of the areas of support. Some of the topics discussed during the validation workshop include preparing for mediation, negotiating in a mediation session, coordinating the mediation intervention and closing the mediation, etc.

The African Union Commission (AUC) has established and begun to operationalize a Mediation Support Unit (MSU) in order to institutionalise its conflict management approaches in a more systematic manner, in particular preventive diplomacy, mediation and dialogue interventions which are approaches widely used by the AUC to prevent the escalation of violence, foster dialogue and negotiation, as well as the management and resolution of conflicts and disputes across the African continent.

The MSU is located within the Crisis Management and Post Conflict Reconstruction and Development (CM-PCRD) Division of the Peace and Security Department (PSD).

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.

Facebook: https://web.facebook.com/Afrikanheroes/

AU Commission calls for further financial input for the NEPAD-IPPF Special Fund

July 8, 2019

The 29th Oversight Committee (OC) meeting of the New Partnership for Africa’s Development Infrastructure Project Preparation Facility (NEPAD-IPPF) Special Fund held at the headquarters of the African Union Commission in Addis Ababa, Ethiopia, has ended with calls for increased investments to accelerate the closure of Africa’s infrastructure gap.

The meeting which was hosted by the AUC and chaired by KfW Development Bank (Germany). Topics discussed included the NEPAD-IPPF Independent Review report, the introduction of reimbursable grants as part of the new business model, the mid-year progress report, updates on continental infrastructure initiatives, and adoption of a proposed joint AUC/AUDA/AfDB Domestic Resource Mobilization Strategy.

Michael Andres, the Oversight Committee Chairman, commended the achievements of NEPAD-IPPF and noted that more resources are required given the increasing demands being made on the fund.

“The NEPAD-IPPF Special Fund must continue to focus on key priorities, such as PIDA Projects to support the African 2063 Agenda,” Andres said.

While speaking on the Fund’s progress in the first semester of 2019, African Development Bank Director for Infrastructure and Urban Development Amadou Oumarou urged participants to consider the continent’s enormous infrastructure needs.

“New contributions from Spain (Euro 3 million) and the African Development Bank (UA 3 million) are indications of confidence in the Fund’s ability to successfully fulfill its mandate, and also recognize that the NEPAD-IPPF is playing a critical role in infrastructure development in Africa. It is therefore expedient for (the Fund) to be further strengthened with the necessary resources to enable it to meet its objectives and mandate,” Oumarou said.

The meeting convened over 30 participants including donors providing financial support to the NEPAD-IPPF Special Fund, representatives from the African Development Bank, the African Union Commission, the African Union Development Agency (AUDA-NEPAD), Regional Economic Communities (RECs), River Basin organizations and regional corridors authorities.

For AUC Director for Infrastructure and Energy, Cheikh Bedda, “The Programme for Infrastructure Development in Africa (PIDA), and Africa’s infrastructure priorities cannot be implemented without adequate resources committed to the NEPAD-IPPF, a critical instrument to prepare high quality bankable regional infrastructure projects across Africa”.

Providing updates on the Fund’s operational performance NEPAD-IPPF Fund Manager Mike Salawou, stated that cumulative contributions by donor partners including the African Development Bank amounted to $102 million, out of which $96.1 million had been committed to approving 91 projects. As at June 2019, 60 studies have been completed, 9 canceled and 22 are on-going, he noted.

The African Development Bank approved in June 2019 the allocation of UA 3 million from its 2018 Net Income to NEPAD-IPPF. In addition, the Spanish Government announced a new contribution of EUR 3 million to NEPAD-IPPF in May 2019.

Among the studies completed by the Facility, 30 have so far reached financial close and attracted financing of $24.2 billion for the physical implementation of power plants, bridges, ports, roads, hydropower schemes, and ICT projects. Of these successful projects, 17 have been constructed, 11 are under construction and two are yet to commence.

“While disbursements of committed funds on supported projects have reached a record, beyond that and without any new contributions to the Fund, NEPAD-IPPF will not be in a position to support additional project preparation activities, therefore, there is a need for urgent replenishment of the Special Fund,” Salawou stressed.

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.

Facebook: https://web.facebook.com/Afrikanheroes/

Nigeria joins AfCFTA as Buhari signs agreement at AU summit

Nigeria officially joined the African Continental Free Trade Area (AfCFTA) as President Muhammadu Buhari signed the Agreement Sunday in Niamey at the opening of the African Union (AU) Summit.

President Buhari appended his signature to the treaty at exactly 10: 47 a.m. in the presence of African Heads of State and Government, delegates and representatives from the private sector, civil society, and the media attending the 12th Extraordinary Summit of the African Union on Launch of the Operational Phase of the AfCFTA.

In his remarks shortly after signing the agreement, the president declared that Nigeria’s commitment to trade and African integration had never been in doubt nor was it ever under threat.

He told the summit that Nigeria would build on the event by proceeding expeditiously with the ratification of the AfCFTA.

‘‘Nigeria wishes to emphasize that free trade must also be fair trade.

‘‘As African leaders, our attention should now focus on implementing the AfCFTA in a way that develops our economies and creates jobs for our young, dynamic and hardworking population.

‘‘I wish to assure you, that Nigeria shall sustain its strong leadership role in Africa, in the implementation of the AfCFTA. We shall also continue to engage, constructively with all African countries to build the Africa that we want,’’ President Buhari said.

The Nigerian leader also congratulated Ghana on being selected to host the secretariat of the AfCFTA.

President Buhari stated further: ‘‘I have just had the honor of signing the agreement establishing the African Continental Free Trade Area (AfCFTA), on behalf of my country, the Federal Republic of Nigeria.

‘‘This is coming over a year since the AfCFTA Agreement was opened for signature in Kigali, Rwanda, at the 10th Extraordinary Summit of the African Union, on 21st March 2018.

‘‘In fact, you will recall that the treaty establishing the African Economic Community was signed in Abuja in 1991.

‘‘We fully understand the potential of the AfCFTA to transform trade in Africa and contribute towards solving some of the continent’s challenges, whether security, economic or corruption.

‘‘But it is also clear to us that for AfCFTA to succeed, we need the full support and buy-in of our private sector and civil society stakeholders and the public in general.

‘‘It is against this background that we embarked on an extensive nationwide consultation and sensitization program of our domestic stakeholders on the AfCFTA.

‘‘Our consultations and assessments reaffirmed that the AfCFTA can be a platform for African manufacturers of goods and providers of service to construct regional value chains for made in Africa goods and services.

‘‘It was also obvious that we have a lot of work to do to prepare our nation to achieve our vision for intra-African trade which is the free movement of ‘made in Africa goods’.

‘‘Some of the critical challenges that we identified will require our collective action as a union and we will be presenting them for consideration at the appropriate AfCFTA fora.

‘‘Examples are tackling injurious trade practices by third parties and attracting the investment we need to grow local manufacturing and service capacities.’’

President Buhari noted that Nigeria’s signing of the AfCFTA and its Operational Launch at the 12th Extraordinary Summit was an additional major step forward on the AU’s Agenda 2063.

Meanwhile, with Nigeria and the Benin Republic signing the Agreement at the Summit, 54 out of 55 African countries have signed the world’s largest free trade area deal, encompassing 55 countries and 1.2 billion people.

Eritrea is the only African country yet to sign the agreement.

A total of 26 African countries have deposited instruments of ratification, with Gabon being the latest after depositing her instrument of ratification during the Extraordinary Summit.

The AfCFTA Agreement entered into force on May 30, 2019, thirty days after having received the twenty-second instrument of ratification on 29 April 2019 in conformity with a legal provision.

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.

Facebook: https://web.facebook.com/Afrikanheroes/

Africa Forum to Convene a Symposium on Cameroon

One of the principal tasks of the Africa Forum (www.AfricaForum.org) of former African Heads of State and Government and other African leaders is to support the African Union as it works to guide our Continent to achieve the Objectives detailed in the Constitutive Act.

In this context, the Forum has done its best to follow the evolving but troubling situation in the Republic of Cameroon.

In this regard, it has had the privilege to convey some of its views and suggestions to His Excellency President Paul Biya of Cameroon. The Forum looks forward to further contact with President Biya on this matter.

In the meantime, the Forum has thought it very necessary that it should take all necessary steps further to inform itself about the situation in the Republic of Cameroon in as comprehensive a manner as possible.

To achieve this objective the Forum will, therefore, act to convene a Symposium on Cameroon to be held possibly in Addis Ababa, Ethiopia or any other African country which will agree with the Forum to provide a venue for the Symposium.

The Forum will, therefore, take steps without delay to contact a broad spectrum of the people of Cameroon and invite these to attend what the Forum intends must be an inclusive and open dialogue.

The Forum is convinced that the Symposium will help greatly to empower it the better to assist the Government and people of Cameroon as they work to address the challenges facing this sister African 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.

Facebook: https://web.facebook.com/Afrikanheroes/

AU Summit: African Development Bank’s delegation heads for Niamey as AfCFTA top summit agenda

July 7, 2019

The Bank will also participate in the meetings of the 37th NEPAD Heads of state and Government Orientation Committee.

African Development Bank Group President Akinwumi Adesina will next week lead a delegation of top Bank officials to the extraordinary summit of Heads of State and Government of the African Union (AU) in Niger’s capital, Niamey.

High on the agenda of the July 7-8 summit are discussions on the African Continental Free Trade Area (AfCFTA). President Adesina will meet African leaders to review the continent’s development issues and hold talks on the effective implementation of the AfCFTA.

As a member of the continental Task Force, the Bank will participate in several executive discussions, including the deliberations of the 8th meeting of African Trade Ministers, as well as a meeting of the 37th Steering Committee of Heads of Commerce.

The Bank will also participate in the meetings of the 37th NEPAD Heads of state and Government Orientation Committee, as well as in the 1st mid-year coordination meeting of the AU and Regional Economic Communities.

President Adesina will share the Bank’s vision on empowering African women and on the AFAWA (Affirmative Finance Action for Women in Africa) initiative.

On the sidelines, there will be discussions between the Bank and major African private sector representatives on the AU’s 2063 vision of an integrated, inclusive and prosperous 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.