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Cabo Verde hosts hybrid 2021 African Economic Conference on financing development in the Covid-19 era
Cabo Verde hosts hybrid 2021 African Economic Conference on financing development in the Covid-19 era
By: Michael Mike, Abuja
Heads of state and senior policymakers are expected to share their perspectives on how to reshape Africa’s development financing models at the 2021 African Economic Conference, which kicks off on Thursday 2 December.
Cabo Verde Deputy Prime Minister and Minister of Finance Olavo Correia said the conference offered “an extraordinarily important moment” to chart the continent’s development course, including ways to mobilize domestic resources, and create modern and efficient fiscal and tax systems.
He said this was especially important in light of the COVID-19 pandemic. Correia said it was also an opportune time to explore ways to fight tax evasion, fraud and other offences that drain resources.
The 2021 edition of the African Economic Conference is being hosted by the government of Cabo Verde in a hybrid format, in line with pandemic health guidelines. A small group of conference participants will gather in Sal, a popular tourist destination in the archipelago nation.
The rest will take part virtually. The conference is jointly organized by the African Development Bank, the Economic Commission for Africa and the United Nations Development Program.
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The partners have assembled leading thinkers, including Nobel Laureate Roger Myerson, Olavo Avelino Garcia Correia, Vice-Prime Minister and Minister of Finance, Cabo Verde, Masood Ahmed, President, Center for Global Development and Samba Bathily, CEO Africa Development Solutions Group, to deliberate on the continent’s most pressing challenges. Discussions will focus on enhancing Africa’s position in the international financial system, reimagining development financing and domestic public and private resource mobilization in the age of the digital revolution, among others.
Africa’s economy is projected to grow on average by 3.4% this year, after the worst recession in 50 years in 2020. However, growth could be negatively impacted by the slow pace of vaccination and the uncertainty of emerging variants such as Omicron, made public last week by scientists in South Africa. The conference ends on 4 December.
“The COVID-19 pandemic has taught us that business as usual will lead to failure,” said Raymond Gilpin, Chief Strategy, Analysis & Research Team, in the UNDP Regional Bureau for Africa. “This conference provides the space to look at innovative solutions and sustainable options that are available to financing development for African countries. During the conference we will explore 36 innovative empirical analyses that propose ways to do development differently. The 2021 African Economic Conference will provide us with a unique opportunity to contribute to a much-needed reset across Africa.”
“Increasingly, Africa is looking to capital markets as a source of financing, taking into account how Africa’s financial structure or landscape will look going forward, with debt sustainability considerations. We hope that this conference will provide an opportunity for African governments to structure projects that the private sector can finance as part of the recovery process,” said Bartholomew Armah, Director of the Macroeconomic and Governance Division at the Economic Commission for Africa.
Hanan Morsy, Director of Macroeconomic Policy, Forecasting and Research at the African Development Bank, said: “Financing Africa’s development post-COVID-19 will require out-of- the-box solutions to mobilize more domestic resources, attract more private investments, and utilize external resources more efficiently. This year’s AEC will provide concrete and implementable policy recommendations on how to achieve that triple objective, by leveraging the rich and extensive experience of high-level policymakers, development practitioners, private sector actors, academics and other stakeholders who will attend the conference.”
Cabo Verde hosts hybrid 2021 African Economic Conference on financing development in the Covid-19 era
FG Declares Public Holiday on June 12 to Mark Democracy Day
By: Michael Mike
The Federal Government has declared Thursday, 12th June, 2025 as Public Holiday to commemorate this year’s democracy day celebration.
The Minister of Interior, Hon. Olubunmi Tunji-Ojo, who made the declaration on behalf of the Federal Government in a statement signed by the Permanent Secretary, Ministry of Interior, Dr. Magdalene Ajani, congratulated Nigerians on this occasion of 26 years of an uninterrupted civil rule.
He said: “June 12 represents our historic journey to building a nation where truth and justice reign and peace is sustained and our future assured.
“The last 26 years tells the story of our resilience, strength and courage and a hope Renewed than ever.”
The Minister while noting that Democracy is sustained with open doors for further improvement, reiterated the commitment of the Renewed Hope government of President Bola Ahmed Tinubu (GCFR) to the universal value of democracy that is based on freely-expressed will of the people in determining Nigeria’s political, economic, social and cultural systems.
FG Declares Public Holiday on June 12 to Mark Democracy Day
Chieftaincy dispute causes chaos in Muye village in Niger
By: Zagazola Makama
A renewed chieftaincy tussle in Muye village, Lapai Local Government Area of Niger State, has sparked violent confrontations between rival supporters, prompting swift intervention by security operatives.
Zagazola Makama gathered that the crisis began around 6:20 p.m. on Thursday when the deposed village head, Alhaji Mohammed Abdulkadir Maigari II, forcefully returned to Muye and broke into the palace.
The incident provoked tension among residents, especially after supporters of the current Dakachi confronted the deposed monarch. The situation was immediately brought under control by a team of security personnel from Lapai.
However, Zagazola learnt that the situation escalated on Friday morning when supporters of both camps clashed again, leading to a free-for-all fight that disrupted public peace in the community.
Security sources were swiftly deployed to Muye to restore normalcy.
“The combined security teams have brought the situation under control. Monitoring and surveillance operations are ongoing to prevent further breakdown of law and order,” the source said.
No casualties or arrests have been officially confirmed as of the time of filing this report.
Chieftaincy dispute causes chaos in Muye village in Niger
Eid-el-Kabir: IPCR Calls on Nigerians to Peace, Harmony
By: Michael Mike
Institute for Peace and Conflict Resolution (IPCR) has called on Nigerians to promote peace and harmony in their communities, recognizing that peace is essential to national development and progress.
The advice was given by the Director General of the Institute for Peace and Conflict Resolution (IPCR), Dr. Joseph Ochogwu, in his message on Eid-el-Kabir.
The Institute, while extending warm greetings to Nigerians, wished them a joyous and peaceful celebration, marked by love, compassion, and unity.
The Institute while noting that Sallah is a significant occasion in the Islamic calendar, symbolizing the values of sacrifice, gratitude, and community, emphasized that the spirit of Sallah should guide Nigerians in their interactions with one another, fostering a culture of peace, tolerance, and understanding.
The IPCR urged Nigerians to promote peace and harmony in their communities, recognizing that peace is essential to national development and progress, while
encouraging individuals to embrace the values of Sallah, including forgiveness, empathy, and kindness, in their daily lives.
According to IPCR, peace is critical to promoting national stability and cohesion.
The Institute also urged Nigerians to use this period of Sallah celebration to address conflicts and promote dialogue, which could help to build trust and understanding among Nigerians and also contribute to a more peaceful society.
It recognized that the country’s many ethnic and religious groups can work together to build a more harmonious society, celebrating their differences and promoting a culture of tolerance.
End
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