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Donkor Gets Second Term as EBID President

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Donkor Gets Second Term as EBID President

By: Michael Mike

The Board of Governors of the ECOWAS Bank for Investment and Development (EBID), comprising the Ministers of Finance and / or Economic Planning of the 15 ECOWAS member states, has unanimously re-appointed Dr George Agyekum Nana Donkor as President of the Bank for the second term of five years beginning February 1, 2024.

The appointment took place during the just ended 21st Ordinary Session of the Board of Governors held on April 5, 2023.

According to a statement by the bank, in taking the decision, the Board of Governors took into consideration the progress made by the Bank since Donkor assumed office in January 2020.

Notable achievements under his leadership include the reduction of the Bank’s non-performing loans (NPL) ratio from over 8% to 4.28%, USD 77.5 million recovered in respect of capital arrears, 36.8% balance sheet growth in 2022, two consecutive widely successful debenture issuances on the UEMOA market and the enhanced quality of the Bank’s portfolio.

The Board also expressed its satisfaction with the improvement in the Bank’s credit rating, currently B2 with a stable outlook by both Moody’s and Fitch Rating Agencies, which is the best ever rating in the Bank’s history and a reflection of the renewed investor confidence in the Bank, in spite of the daunting global economic context caused by Covid-19 pandemic and the Ukraine-Russia crisis. In his remarks, the outgoing chairman of the Board of Governors, Deputy Prime Minister and Minister for Finance, Business Development and Digital Economy of the Republic of Cabo Verde, His Excellency Dr Olavo Avelino Garcia Correia, stated that the Board of Governors was of the firm belief that Dr. Donkor was the right person to take the Bank to the next level.

The Bank’s Board of Directors which recommended the renewal of Donkor’s term of office to the Board of Governors, described him as a man of impeccable professional credentials and a pragmatic leader who had implemented several commendable initiatives at the helm of the Bank which has yielded positive outcomes.

In his response, Donkor pledged to continue working with the Ministers and the Board to forge ahead with the objective of establishing EBID as the leading financial institution in the region, while supporting Member States to ensure socio-economic development.
 

ECOWAS Bank for Investment and Development (EBID) is a leading regional investment and development bank, owned by the 15 ECOWAS Member States, namely, Benin, Burkina Faso, Cape Verde, Côte d’Ivoire, The Gambia, Ghana, Guinea, Guinea-Bissau, Liberia, Mali, Niger, Nigeria, Senegal, Sierra Leone, and Togo. Based in Lomé, Togolese Republic.

The Bank is committed to financing developmental projects and programmes covering diverse initiatives from infrastructure and basic amenities, rural development and environment, industry, and social services sectors, through its private and public sector windows. EBID intervenes through long, medium, and short-term loans, equity participation, lines of credit, refinancing, financial engineering operations, and related services.

Donkor Gets Second Term as EBID President

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Togo Elections: ECOWAS Deploys Election Observation Mission

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Togo Elections: ECOWAS Deploys Election Observation Mission

By: Michael Mike

The President of the Economic Community of West African States ( ECOWAS) Commission, Dr Omar Alieu Touray, has deployed an Election Observation Mission of 40 observers to Togo to monitor the legislative and regional elections scheduled for 29 April 2024

According to a statement at the weekend, the mission is in line with the provisions of Article 12 of the ECOWAS Supplementary Protocol on Democracy and Good Governance and constitutes support from the regional organisation to its Member States for the conduct of their elections.

The mission is led by the former Vice-President of The Gambia, Mrs Fatoumata Jallow-Tambajang.

According to the statement, the mission is made up of Ambassadors from Member States accredited to ECOWAS; representatives of the ECOWAS Court of Justice and Parliament; Civil Society Organisations; media professionals and election observation specialists from the West African region.

It revealed that: “This observation mission is being deployed following the recommendations of a pre-election fact-finding mission that visited Togo from 15 to 20 April 2024 to assess the preparatory phases of the elections.

“During its stay in Togo, the observation mission will hold consultations with the main stakeholders in the electoral process and monitor the voting process up to 29 April 2024.”

Togo Elections: ECOWAS Deploys Election Observation Mission

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Re-run election into the national assembly, a Triumph of Democracy – Kwande

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Re-run election into the national assembly, a Triumph of Democracy – Kwande

By: Bodunrin Kayode

A Plateau elder Ambassador Yahaya Kwande has described the just concluded re-run election into the national assembly as a Triumph of Democracy.

In a release titled Congratulations to the Winners of Plateau State Bye Elections of February 3, 2024, he noted that the entire exercise was a victory to the people of the state.

“With great joy and profound gratitude, I extend my heartfelt congratulations to the newly elected Senator, (Plateau North Senatorial District), Prince Pam Mwadkwon Dachungyang, and the Member of the House of Representatives, (Jos North/Bassa Constituency), Hon. Daniel Asama, on their resounding victory in the recently concluded bye election held in Plateau State.

“Your triumph is a testament to the true spirit of democracy and the unwavering support of the people.

“I have no doubt that both Prince Pam Mwadkon and Hon. Daniel Asama will live up to the aspirations and expectations of the voters, as they embark on this noble responsibility of representing their constituents. May your tenure be marked by dedication, integrity, and a relentless pursuit of progress for our beloved state and nation.

“As we celebrate this momentous milestone, let us not forget the challenges we faced during the post-2023 elections period. It is my sincere hope that Plateau State will swiftly recover from the divisions and tussles that marred our unity. Let us unite as one, for the strength of our state lies in our togetherness.

“It is essential for the government and the people to undertake immediate measures to reconcile and bridge the gaps that have emerged. We must never forget that every citizen, irrespective of their religion or ethnicity, is entitled to their fundamental rights. The use of religion as a tool of disfranchisement must cease; we must affirm that citizenship rights are not conditional on faith.

“Let us also strive to recapture the lost glory of our state, when Jos was hailed as the political Mecca of Nigeria, attracting momentous political events and embracing politicians from all shades and ideologies. We can revive this legacy by nurturing an environment that exudes peace, openness, and security for all. Together, we can restore Plateau State as a beacon of democratic excellence.

“In conclusion, I express my utmost optimism for the future of Plateau State. I extend my deepest appreciation to all who peacefully participated in the bye election, be it as candidates or enthusiastic supporters. Our journey towards progress and development continues, and I am confident that we will stand united, empowered by the unwavering spirit of our people.” said Kwande.

Re-run election into the national assembly, a Triumph of Democracy – Kwande

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APC-IGG: Ambassador Tsoken commends President Tinubu for intervening to ease hardship for Nigerians.

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APC-IGG: Ambassador Tsoken commends President Tinubu for intervening to ease hardship for Nigerians.

By: Jabiru Hassan

The National President of the APC Initiative for Good Governance (APC-IGG), Ambassador Musa Mohammed Tsoken, has commended President Bola Ahmed Tinubu for intervening to ease the hardships affecting Nigerians.

In a message he issued to newsmen in Abuja on Monday, Ambassador Tsoken described President Tinubu as a leader with listening war by giving a marching order for the release of different food items to ease hardships for the people of Nigeria, which is a good initiative.

”APC-IGG has recognized what Mr. President has done in order to ease the hardship affecting the people on the food price hike, which is very good foresight from our leader. We therefore thank all those who have helped with the implementation of the process to release the food items from the federal government reserves across the country for their well-deserved thought.” The statement was added.

Ambassador Musa Mohammed Tsoken reassured the people of Nigeria that the APC Initiative for Good Governance would continue to work selflessly in order to ensure that Nigeria is progressive under the present democratic dispensation without bias.

Amb Tsoken emphasizes that the emergence of His Excellency Sen. Dr. George Akume as the Secretary to the Government of the Federation depicts the fact that President Bola Ahmad Tinubu has reliable and credible individuals who have verse experience in governance from all ramifications; therefore, the deliverance of democratic dividends is something that Nigerians should believe in its workability and full efficacy in the near future, considering the fact that some of the policies and programs of the Renewed Hope Agenda have started gaining sway in the lives of the citizenry, he concluded.

APC-IGG: Ambassador Tsoken commends President Tinubu for intervening to ease hardship for Nigerians.

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