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Cabo Verde hosts hybrid 2021 African Economic Conference on financing development in the Covid-19 era

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Heads of state and senior policymakers are expected to share their perspectives on how to reshape Africa’s development financing m

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.

Also Read: 100 days of Strengthening Emergency Preparedness, Response,…

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

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National News

Nigeria Calls for Collaboration Among ECOWAS States to Develop Tourism Sector in West Africa

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Nigeria Calls for Collaboration Among ECOWAS States to Develop Tourism Sector in West Africa

By: Michael Mike

Nigeria government has called for the collaboration among the counties of Economic Community of West African States (ECOWAS) to develop the tourism potential of the subregion and place West Africa in prime position to compete with other regions.

The Director General of the Nigerian Tourism Development Corporation, Folorunsho Coker, also called for the streamlining of policies on tourism in countries in the subregion while delivering a speech at the opening ceremony of the meeting of experts and stakeholders of the private tourism industry on the monitoring and evaluation mechanism of ECOTOUR 19-29 and the ECOWAS Tourism Accommodation regulator in Abuja on Tuesday.

Coker said: “It’s the season to collaborate not to compete,” adding that: “It’s in the spirit of collaboration that we will grow pan-African tourism.”

He said: “I want to encourage the localisation of policies”, insisting that policies would only be successful when localised.

Coker said all the regulations in the region be streamlined into one that will guide activities in the tourism sector across the 15 ECOWAS member states, urging for the training of tourism operators in the region as well as the introduction of technology in tourism.

He said: “We must embrace technology or it will leave us behind.”

The Commissioner for Economic Affairs and Agriculture of the ECOWAS Commission, Massandjé Toure-Liste said the meeting drew aspiration from the ECOTOUR 19-29 action plan, adopted by the Authority of Heads of State and Government which was designed to serve as a roadmap for promoting responsible tourism.

She said: “To this end, our technical meeting today centres around drafting the operational modalities for two critical tools: the ECOTOUR 19-29 monitoring and evaluation mechanism and the ETAR – ECOWAS Tourism Accommodation Regulator.

“The ECOTOUR 19-29 Monitoring and Evaluation Mechanism will involve developing operational guidelines and appointing dedicated members or focal points to oversee its implementation.

“Simultaneously, for the ECOWAS Tourist Accommodation Regulator (ETAR) we will define the composition and operational modalities in alignment with Regulation C.REG.2/07/23.

“Our focus on Private Sector Collaboration includes; facilitating dialogue among representatives from the private tourism sector and encouraging strategic alignment and collaboration at the regional level.

Massandjé, who was represented by the ECOWAS Commission’s Director of Private sector, Dr Anthony Elumelu, said: “Additionally, we aim to support private sector players in finalising the process of creating a regional confederation.”

The meeting is expected to end on Friday 17th May, 2024.

Nigeria Calls for Collaboration Among ECOWAS States to Develop Tourism Sector in West Africa

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National News

ActionAid Alleges Government Paying Lip-service to Free First Nine Years of Schooling

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ActionAid Alleges Government Paying Lip-service to Free First Nine Years of Schooling
…Demands Immediate Government Action to End Educational Exclusion of Poor Children

By: Michael Mike

ActionAid Nigeria has alleged that the government is only paying lip service to the avowed policy of free education to children in their first nine years of schooling, insisting that a massive number of children are still being denied their right due to inadequate resources, poor infrastructure, and a lack of transparency in the use of public funds.

A statement on Monday by the Country Director, ActionAid Nigeria, Andrew Mamedu demanded an immediate government action to end educational exclusion of poor children in the country.

The statement read: “ActionAid Nigeria vehemently disapproves the failure of the Nigerian government to provide quality education to children from poor backgrounds- one of its most vulnerable citizens. Despite the free education policy that was enacted to cater for children in their first nine years of schooling, a massive number of children are still being denied their right due to inadequate resources, poor infrastructure, and a lack of transparency in the use of public funds. This is a shocking dereliction of duty.

“This obvious inaction by the government is a clear betrayal of the trust placed in them by the citizens. The inconsistent working relationship between federal and state governments has resulted in a catastrophic failure of coordination, prioritization, and curriculum development. This is unacceptable and must be addressed immediately.”

Mamedu added that: The outrageously high number of poorest children who are out of school is a direct consequence of the government’s appalling neglect of public services.”

Mamedu said: “According to the Nigerian Education Factsheet by UNICEF, about one fourth of the children of primary school completion age did not complete primary education. Moreover, there’s a staggering wealth-based disparity, as 97 per cent of children from the richest families complete primary school, compared to just 34 per cent from the poorest families.

“The gap widens in senior secondary school, where 90 per cent from wealthy families complete their education, versus a mere 16 per cent from poor families.”
He lamented that: “There are also significant ethnic disparities- children from Igbo, Yoruba, Ijaw, Ibibio, and Edo backgrounds tend to have higher completion rates, while those from Fulani and Kanuri backgrounds face lower rates of educational attainment.”

He said he firmly believes that “Education is the key to breaking the cycle of poverty, and it is the government’s responsibility to ensure that all children have access to quality education.”

He added that: “The current state of education in Nigeria is a crisis, and we assert that the government takes immediate action to address these issues and prioritize the future of our children.”

Mamedu said: “ActionAid strongly demands that the government: Implements the policy of free education for the first nine years of schooling effectively, without delay; Improves coordination and prioritization between federal and state governments, to ensure a unified approach to education; Increases transparency in the allocation and use of public funds for education, to ensure that resources are being used effectively; Allocates sufficient funds for infrastructure development and improving the school experience for children, to provide a safe and supportive learning environment.”

He said: “It’s time for the government to step up and fulfill its responsibility to provide a decent education for all, without excuses or exceptions.”

ActionAid Alleges Government Paying Lip-service to Free First Nine Years of Schooling

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Crime

Six terrorists killed as army troops raid terrorists enclaves

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Six terrorists killed as army troops raid terrorists enclaves

By: Zagazola Makama

Troops of the Operation Hadin Kai of the Nigerian Army have killed six fighters of the Islamic State of West African Province (ISWAP) during a raid of a “notorious enclave” in Goniri in Damboa LGA in Borno.

It was gathered that the feat was recorded when the troops of 81 Division Task Force Battalion stormed the terrorists enclave in collaboration with Civilian Joint Task Force on May 9, 2024.

Intelligence sources told Zagazola Makama that the The troops successfully cleared Wulma Mashi and Kodow and destroyed structures of the terrorists. The troops went further to clear Goniri and Kokotuma. Contact was made with the terrorists in a small market before Gorere market.

The troops gundown the six terrorists and destroyed all the structures in the area.

Six terrorists killed as army troops raid terrorists enclaves

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