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AfDB Seeks $42 billion to Bridge Financing Gap Hindering African Women Enterprises

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AfDB Seeks $42 billion to Bridge Financing Gap Hindering African Women Enterprises

By: Michael Mike

The African Development Bank (ADB) has said it is presently seeking $42 billion to bridge the current financing gap hindering women-owned and women-led enterprises across the Africa continent.

The Director General, Nigerian Country Department of the bank, Dr Abdul Kamara made the disclosure on Tuesday in Abuja
at the High-Level Dialogue on Investment in Gender Equality and Ending Violence Against Women for Rights and Development organised by United Nations Women in partnership with ADB.

The event is part of the global “16 Days of Activism against Gender-Based Violence” campaign, which runs from November 25 (International Day for the Elimination of Violence against Women) to December 10th (Human Rights Day).

It brought together key stakeholders to address the pressing issue of gender-based violence in Nigeria, where women and girls continue to face various forms of discrimination and violence.

Kamara said the bank has a very clear stance on Gender Based Violence (GBV), stating that in 2024, ADB celebrated 25 years of gender mainstreaming in all its operations geared towards evidence based reduction in gender gaps and more importantly, in accelerating gender equality.

He said: “One area where the bank has made very visible impact in the economic empowerment in the last seven years is increasing access to finance through a special initiative called AFAWA which is an acronym for Affirmative Finance Action for Women in Africa.

“In the context of this Pan African Initiative, the African Development Bank seeks to bridge the financing gap of $42 billion currently hindering women-owned and women-led enterprises across the continent and I am glad to report that we disbursed over a billion dollars of this across Africa, seeking to increase access to finance for women.

“This is just one among many initiatives of the bank that are responding directly to the problem gender equality. In Nigeria, all our programmes and projects are gender mapped and have gender experts working with the government to design actions that will bridge gender gaps, looking to access to financing for women, access to market, access skills but most importantly access to jobs and incomes.

“Just last month, we approve here in the bank, $100 million in the programme called Youth Entrepreneurship Investment Bank for Nigeria. This is a non deposit bank, it is an access to finance. This operation will improve gender responsive, youth entrepreneurship and enterprise development by boosting financial services to foster a thriving entrepreneurial ecosystem and affirmative action for jobs focusing on women,” he said.

In his remarks, Minister of Budget and National Planning, Sen. Atiku Bagudu said GBV was a growing concern that required immediate attention and collective action, noting that despite progress made toward dealing with violence, women and girls continue to face violence, discrimination and marginalisation.

Bagudu, who was represented by Permanent Secretary in the ministry, Dr Vitalis Obi, said empowering women was crucial to breaking this cycle of violence and that can be done by creating and promoting gender responsive policies as well as practices.

He said: “We must take decisive action to prevent and protect our women from all forms of violence and to create a society where everyone feels safe irrespective of their gender. One of the ways by which we can bridge this persistent gap is by institutionalising gender responsive budgeting in all sectors of the economy.

“Gender responsive budgeting is the strategic approach that integrates gender perspectives into the entire budget cycle. Allocate adequate resources to the programmes that will address GBV, women empowerment and education,” he said.

On her part, the Chairperson, Nigerian Governors’ Spouses Forum, Prof. Olufolake Abdul-Razaq, said they remained steadfast in advocating gender responsive budgeting across the 36 states and FCT, spending institutional framework that integrate gender perspectives and championing initiatives to protect women rights.

The Kwara State First Lady said the forum was firmly committed to ensuring that all gender laws become a cornerstone of governance at the sub-national levels, adding that the well-being of women and girls remained a pivotal indicator of how well any nation was faring in driving her developmental plan.

“It is time to address the structural barriers that perpetrate inequality for women and girls to reach their full potentials. This is my believe and it is not only an act of justice but a strategic investment in resilience and productivity of our nation as this no doubt stands as a veritable gift to commemorate the 2024 16 days of activism against GBV.

“The Nigerian Governors Spouses Forum really made an effort in the last couple of years…We are also working to get women into leadership because we believe that when women are in leadership position they will help us to sustain this drive of bringing developments to women,” she added.

In her opening remarks, the UN Women Country Representative to Nigeria and ECOWAS, Beatrice Eyong, said GBV was not just a human rights issue but also an economic issue a statistics showed that the menace was costing the Nigerian government 1.5% of its Gross Domestic Product.

“We are talking in terms of billions of dollars that the country is losing every year because of Gender Based Violence. So Gender Based Violence is linked to the achievement of Sustainable Development Goals. So if we do nothing, we will not get out of poverty and we will not get sustainable development.

“The World Economic Forum estimated in its global gender gaps report of 2022 that it will take about 132 years for the world to achieve gender equality. What does this mean for Nigeria? At this space, some of us, including our daughters might not experience gender equality in their time.

“This is therefore a call to collective actions by all international organisations, government agencies, community stakeholders and even the private sector to address the under-representation of women and barriers to gender equality,” she noted.

The UN Resident Coordinator in Nigeria Mohammed Fall, on his part said: “Gender inequality and violence against women remain among the greatest challenges to sustainable development, not just in Nigeria but globally. These issues incur heavy costs—socially, economically, and individually—limiting our collective potential for progress.”

He added that: “Violence and harmful practices against women and girls happen every day in Nigeria, and most of the time they are not reported. The Nigerian Demographic and Health Survey in 2018 found that 9 percent of women aged 15 to 49 had suffered sexual assault at least once in their lifetime and 31% had experienced physical violence. Restrictions and implications from the COVID-19 pandemic exacerbated the gender-based violence (GBV) in the nation.”

He said: “The United Nations remains steadfast in its support for Nigeria’s journey towards creating an inclusive society where every woman and girl can thrive. We are committed to coordinating partnerships, providing technical expertise, and facilitating dialogues to ensure measurable impacts in Nigeria.”

AfDB Seeks $42 billion to Bridge Financing Gap Hindering African Women Enterprises

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VP Shettima launches 6th MSME Clinic, announces unconditional grant of N300,000 for each Borno Entrepreneurs

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3 days ago

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January 28, 2025

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VP Shettima launches 6th MSME Clinic, announces unconditional grant of N300,000 for each Borno Entrepreneurs

…MSME the only way to strengthen the resilience of our people – Zulum

By: Our Reporter

Borno State entrepreneurs participating in the 6th Expanded National MSME Clinics and Fashion Hub will receive an unconditional grant of N300,000 each to support and enhance their businesses.

This was announced by Vice President, Kashim Shettima, during the official opening of the event on Tuesday at the Government House in Maiduguri, Borno State.

Senator Shettima revealed that each of the outstanding Micro, Small, and Medium Enterprises (MSMEs) that participated in the exhibition would be eligible for the N300,000 grant. “I am pleased to announce on behalf of His Excellency, President Bola Ahmed Tinubu, that an unconditional grant of N300,000 will be awarded to each outstanding MSME exhibiting at today’s clinic,” he stated.

The Vice President further explained that the Borno State centre is part of the ongoing national initiative to establish Expanded National MSME Clinics across the country. He assured that the grants are non-repayable, reflecting the Federal Government’s commitment to supporting the success and sustainability of small businesses in the region.

Senator Shettima also highlighted the newly inaugurated Borno State Fashion Hub, which he said has the capacity to create up to 48,000 jobs annually, describing it as a significant step towards enhancing the MSME ecosystem in the state, particularly in the fashion industry.

“This hub is among the largest ever established by the Federal Government, equipped with state-of-the-art facilities to support the fashion manufacturing cluster in Borno State,” he added.

In a remark, Governor of Borno State, Professor Babagana Umara Zulum, noted that his administration has adopted an inclusive approach to support small and medium scale businesses, recognising it as essential to strengthening resilience amid the challenges faced by MSMEs.

Governor Zulum acknowledged that MSMEs in Borno State have faced severe hardships due to the prolonged insurgency and the broader economic challenges in the country.

“The MSME Clinic will revitalise business activities in Borno State, create employment opportunities, and increase income sources for our people,” Governor Zulum said.

“Our government is committed to providing more opportunities for our people to expand their income sources.”

Governor Zulum also outlined several initiatives by his administration, including the disbursement of soft loans to empower entrepreneurs, the construction of modern markets, the establishment of vocational training institutions, and the renovation of skill acquisition centres damaged during the insurgency.

The Governor expressed optimism that the MSME Clinics would focus on five key areas: funding, skill development, infrastructure, access to markets, and technology. Additionally, the clinics will provide business registration, training, and mentorship services to help entrepreneurs grow their businesses.

“The expansion of this Clinic is not just a project; it is a demonstration of our belief in the creativity and resilience of the entrepreneurs in Borno State and Nigeria. When MSMEs thrive, they create jobs, reduce poverty, and drive innovation across sectors,” Governor Zulum said.

“These strategies are designed to address challenges and unlock the full potential of our entrepreneurial systems.”

Governor Zulum also urged entrepreneurs and business owners to fully utilise the resources provided by the MSME Clinic to grow their businesses, enhance their skills, and explore new opportunities.

Before the programme, Vice President Kashim Shettima commissioned the Borno State Fashion Hub at the defunct Kashim Ibrahim College of Education and WEMA Bank partnership branch.

Dignitaries that accompanied the VP include the minister of Agriculture and Food Security, Senator Abubakar Kyari, Minister of State Industry, Senator John Owan Enoh and Senior Special Assistant to the President on Job Creation and MSMES, Temitola Adekunle-Johnson.

VP Shettima launches 6th MSME Clinic, announces unconditional grant of N300,000 for each Borno Entrepreneurs

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2.5 million Daily Egg Production Farm Underway in Nigeria

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4 days ago

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January 27, 2025

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2.5 million Daily Egg Production Farm Underway in Nigeria

By: Michael Mike

A 2.5 million eggs per-day production poultry farm is to be built in Nigeria by the China Communications Construction Company (CCCC).

This is one of the major highlights of the ongoing visit led by the Director-General of the NCSP, Joseph Tegbe to China.

According to a statement on Monday, the delegation at a meeting with Chilwee Group scored a significant mileage during a visit to the China Communications Construction Company (CCCC) Headquarters, where they explored opportunities for replicating a 2.5 million eggs-per-day production poultry farm in Nigeria using innovative funding models.

The statement read: “The Nigeria-China Strategic Partnership (NCSP) has made significant strides in strengthening bilateral relations and promoting economic cooperation between Nigeria and China. Recent agreements and investments in the energy, technology, and manufacturing sectors are poised to drive Nigeria’s socio-economic transformation.

“At the forefront of these developments is the agreement between the NCSP and Chilwee Group, a prominent Chinese manufacturer of cutting-edge batteries and power storage solutions. This agreement is expected to enhance Nigeria’s energy security, promote renewable energy, and reduce carbon emissions. Chilwee Group has committed to investing in Nigeria through a multifaceted approach, including sales, manufacturing, and potentially mining raw materials for the power storage value chain.

“In addition to the agreement with Chilwee Group, the NCSP has also made significant progress in other areas. During a recent visit to China, the Director-General of the NCSP, Joseph Tegbe, led a delegation to the China Communications Construction Company (CCCC) Headquarters, where they explored opportunities for replicating a 2.5 million eggs-per-day production poultry farm in Nigeria using innovative funding models.

“Also, the NCSP facilitated a tripartite agreement between CPL Medical group, CSSC Haishen Medical Technology Co Ltd and China Habour Engineering Company over the renovation and upgrading of equipment in selected teaching hospitals across the country. While speaking at the agreement signing ceremony, Tegbe noted that the agreement represented an example of private-sector collaboration which the partnership hopes to promote.

The statement also revealed that the NCSP delegation also visited China Electronic Corporation, where Tegbe expressed optimism about cooperation between Nigeria and China in areas such as electronics equipment, public security surveillance, and identity management. He emphasized the potential for collaboration, stating that he has President Bola Ahmed Tinubu’s mandate to identify top-priority projects that will drive Nigeria’s industrialization.

The NCSP delegation was also at Huawei, where they discussed opportunities for collaboration in the ICT sector, including training programmes and the deployment of smart city models. With the imminent deployment of the smart city model presented by Huawei to President Tinubu in Beijing, Nigeria is set to reap the benefits of the investments of Huawei in Nigeria and her partnership with the Tinubu-led administration.

These benefits include smart, qualitative education, better healthcare delivery, enhanced communications technology, improved security infrastructure, and digitalization of key government facilities. The NCSP also met with representatives from Loong UAV, a global leader in tactical drone solutions, to explore opportunities for cooperation in the field of drone technology.

The cooperation with Loong UAV is expected to bolster Nigeria’s domestic capabilities in drone technology, facilitating access to essential services and commodities in remote or hard-to-reach regions. This innovative use of drones could significantly enhance Nigeria’s logistical capabilities, creating new opportunities for economic growth and development.

According to the statement: “Overall, these agreements and investments demonstrate the NCSP’s commitment to driving Nigeria’s socio-economic transformation through targeted Chinese investments. By focusing on creating value-driven partnerships, strengthening Nigeria’s role in Africa’s industrialization, and coordinating initiatives that align with Nigeria’s Renewed Hope Agenda and China’s Belt and Road Initiative (BRI), the NCSP is poised to unlock new opportunities for economic growth and development in Nigeria.”

2.5 million Daily Egg Production Farm Underway in Nigeria

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ECOWAS Court Adopts New Instructions to the Chief Registrar and Practice Directions (2025)

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7 days ago

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January 25, 2025

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ECOWAS Court Adopts New Instructions to the Chief Registrar and Practice Directions (2025)

By: Michael Mike

The Community Court of Justice, ECOWAS, has officially adopted the Instructions to the Chief Registrar and Practice Directions (2025), aimed at enhancing efficiency and procedural integrity.

According to a statement on Friday, these updates reinforce the Court’s commitment to providing effective access to justice for the citizens of the ECOWAS region.

The statement said the adoption of these updated guidelines stems from the recommendations of the Judicial Retreat held from 12 to 15 November 2023 and the Judges’ Retreat held from 15 to 19 November 2023.

According to it, the revised documents consolidate and supplement the Instructions to the Chief Registrar and Practice Directions of 2012, as well as the 2020 Practice Directions on Electronic Case Management and Virtual Court Sessions, addressing procedural gaps and improving case management.

The Key Highlights of the New Instructions and Practice Directions include: Streamlined Case Management: Applications must comply with specified page limits to ensure expediency: Initiating Applications and Statements of Defence are limited to 15 pages, Replies and Rejoinders to 10 pages, and other applications to 5 pages; Applications must adhere to technical specifications, including A4 paper size, Times New Roman font, and font size 12 or higher.

Monitoring and Compliance: The Chief Registrar is tasked with ensuring adherence to filing deadlines, issuing Certificates of Non-lodgement in cases of non-compliance, and delisting dormant cases where appropriate.
Expedited Procedures: Urgent applications for expedited procedures or interim measures are prioritized, with translations of pleadings given precedence.

Enhanced Language Accessibility: Parties requiring interpretation in non-working languages of the Court may formally request such services, with provisions for freelance interpreters under ECOWAS-approved conditions.

Compensation and Damages: Awards are to be made in the currency of the Respondent State, with flexibility for conversion using prevailing exchange rates published by the ECOWAS Bank for Investment and Development (EBID).

Preliminary Objections and Consolidation of Cases: Clear timelines and processes for raising preliminary objections and consolidating cases are outlined to streamline proceedings.

Intervention and Amicus Curiae Participation: Provisions for third-party interventions and submissions by amicus curiae ensure broader stakeholder engagement in cases.

According to the statement, the updates are issued under Article 12 and Article 100 of the Court’s Rules, empowering the Court to establish procedural guidelines and ensure the proper conduct of Parties, their Agents, Advisers, and Counsel. The new directives are grounded in the Court’s continuous efforts to address procedural challenges and uphold the principles of justice and equity.

ECOWAS Court Adopts New Instructions to the Chief Registrar and Practice Directions (2025)

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