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UK to Host African Investment Summit in April 2024

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UK to Host African Investment Summit in April 2024

By: Michael Mike

The British Prime Minister, Rishi Sunak
will be hosting African leaders in London for the second UK-African Investment Summit between 23 and 24 April, 2024 building on the £6.5 billion of deals and £8.9 billion of investment commitments achieved at the 2020 summit.

A statement from the British High Commission in Nigeria on Thursday explained that the Summit aims to promote two-way trade and investment, creating jobs and growth and supporting women entrepreneurs.

The statement added that the announcement comes as HM Revenue and Customs sign an MoU with the Federal Inland Revenue Service to help increase Nigeria’s domestic revenues

The statement read: “The Prime Minister will host a UK-African Investment Summit in London on 23-24 April 2024. The Summit will bring together Heads of State and Government from 24 African countries with British and African business leaders. It will strengthen UK-African partnerships to create jobs and growth, supporting British and African talent in sectors such as finance and technology, and promote women entrepreneurs.

“The Summit will build on the results of the UK-African Investment Summit 2020 and virtual UK-African Investment Conferences in 2021 and 2022. The UK-African Investment Summit 2020 marked an important milestone in our partnerships with African countries and announced over £6.5bn of deals, plus a further £8.9bn of investment commitments.

“By 2050, two billion people will live in Africa, more than half will be under 25. During the next two years, faster economic growth is expected across Sub-Saharan Africa than the global average. And as the world faces the stark and shared challenge of climate change, the UK is working with African countries to support them to mitigate and adapt to its effects, recognising Africa’s abundant potential for renewable energies of the future.”

The British Prime Minister Rishi Sunak was quoted to have said: “To grow the UK’s economy, create opportunities for growth and bolster our economic security, we must deepen our ties with partners across the world.

“This summit will ensure we are able to harness the potential of our relationships across Africa and grow our economies together, making them stronger, resilient, and innovative.”

By facilitating business-to-business links, trade opportunities and investment, UK-AIS will help harness this potential for the creation of mutual prosperity, economic growth, jobs and a global transition to green energy.

Foreign, Commonwealth and Development Secretary, James Cleverly, working closely with the Secretary of State for Business and Trade and President of the Board of Trade, Kemi Badenoch, will lead work across Whitehall to prepare for the Summit.

The Foreign Secretary James Cleverly said: “The UK’s trade and investment relations with countries right across the African continent are delivering significant mutual economic benefits to all of us.
“Affirming the UK’s position as a leading investor in Africa, this second African Investment Summit in London will build on our successes since 2020 which have combined the strengths, innovations and expertise of the UK and our partners across Africa to support reliable, sustainable and long-term investment.
“The UK and Africa go far when we go together.”

The Foreign Secretary committed last December to focusing on partnerships of the future with countries whose economies, populations and ultimately influence globally are growing. He sees countries in Africa as central to this and is seeking to build on our partnerships across the continent on the basis of respect, mutual benefit, common interests, and, most importantly, by listening to African countries’ perspectives.

To further this commitment, the UK’s HM Revenue and Customs (HMRC) has today, signed a memorandum of understanding with the Federal Inland Revenue Service (FIRS) to help increase Nigeria’s domestic revenues.

The Memorandum of Understanding (MOU) will help ensure that Multinational Enterprises (MNEs) pay the right amount of tax in Nigeria. It will also help assess tax liabilities of firms and High Net Worth Individuals (HNWIs).

The UK and Nigeria have confirmed their shared interest in pursuing a potential Enhanced Trade and Investment Partnership (ETIP) which will offer an alternative high-profile mechanism to progress bilateral economic issues of mutual strategic importance.

This was agreed in November 2022 at the 8th and final UK-Nigeria Economic Development Forum (EDF) established primarily by former Prime Minister, Theresa May and President Muhammed Buhari in August 2018 to address market access barriers, respond to opportunities and challenges of doing business and boost bilateral trade and investment between the our two countries. Under the ETIP, both countries will continue to work together to resolve market access issues and enhance economic cooperation.

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International

Palestinian Envoy Appeals to EU, Others to stop Israeli Planned Housing Projects in Gaza

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Palestinian Envoy Appeals to EU, Others to stop Israeli Planned Housing Projects in Gaza

By: Michael Mike

Palestinian Ambassador to Nigeria, Abdullah Shawesh has appealed to European Union and the other international communities to pressure Israel to halt the planned construction of houses in Gaza.

Shawesh warned that EU needs to follow its condemnation of Israel action in Gaza with reaction, insisting that it is not enough for EU to just condemn Israel as there is the need to mount pressure on them to desist from the plan.

The envoy who spoke to journalists in Abuja, lamented that already the Israeli authorities have given the go-ahead for the construction of 3426 new Israeli homes in Gaza.

He said, “On March 6, Israel greenlit the advancement plan for 3426 new Israeli homes to be built on the Occupied Palestinian Territories.

“The EU condemns this Israeli move and urged Israel to reverse its decision, reiterating its position that the settlements are illegal under international law and constitute an obstacle to peace, as they threaten the two-state solution.

“The EU’s position is good but not sufficient. The EU and the international community still has a lot of peaceful, legal, and diplomatic tools to pressure Israel not only to put an end to the expansion of settlements but also to dismantle them as a real and tangible step towards the embodiment of the state of Palestine. Continuing with business as usual will not be helpful at all; Israel is accustomed to hearing these positions and does not pay them any attention.”

Shawesh also noted that since the 7 October retaliation attacks, no fewer than 31,272 Palestinians have been killed and 73,024 injured, with 72% being children and women.

He also added that more than 8,000 are still missing under the rubble, and in many cases, Israel prevents the rescue teams from reaching them or even evacuating the dead bodies.”

Palestinian Envoy Appeals to EU, Others to stop Israeli Planned Housing Projects in Gaza

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French Embassy Calls for an End in Disparity in Prize Money to Male and Female Athletes

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French Embassy Calls for an End in Disparity in Prize Money to Male and Female Athletes

By: Michael Mike

Embassy of France in Nigeria has commenced the sensitization of Nigerians towards both the Olympic and Paralympic Games it is hosting in Paris this summer.

Speaking on the Games, the Chargé d’Affaires a.i. of France to Nigeria and ECOWAS, Jean Francois Hasperue also called for an end in disparity between prize money to both male and female athletes.

The envoy who spoke at launch of Digital Exhibition Celebrating Women in Sport sponsored by the Embassy titled “Sport and Women’s Bodies,” a celebration of the profound connection between sport and the female body, which showcased the creative talents of two young Nigerian digital artists, Ms. Tiolu Yoloye and Mr. Babalola Oluwafemi, said: “One of the challenges women face in sport is the emphasis on appearance rather than performance. This scourge puts mental pressure on female athletes, but it also distracts them from their exceptional skills and dedication.”

He said: “We must recognize the diversity of bodies and shapes, appreciate their unique strengths, and promote a more inclusive definition of the vehicle and working tool that is the athlete’s body. Every body is unique and it is the abilities and performances of these athletes that should arouse our admiration.

“The relationship between sport and women’s bodies is also evident in issues related to equality and opportunity. Despite significant progress, female athletes still face inequalities in pay, sponsorship, and media coverage.

“Through our network of Embassies around the world, this is a subject that is close to our hearts, and which is part of French feminist diplomacy. We will broadcast a documentary on this subject on March 26 at the French Institute.

“Reducing these disparities is not only a matter of justice, but also a crucial step towards creating an environment in which women can fully realize their potential in the world of sport.”

He asked: “Let’s celebrate their achievements, not only as athletes, but also as individuals who defy expectations and inspire future generations. The examples are numerous: Serena Williams, Laure Manaudou or Simone Biles, but also our Nigerian champions Tobi Amusan, Ejike Lucy or even Super Falcons on their way to the Olympics.

“Then, today this exhibition celebrates the strength, resilience and determination that define female athletes in various disciplines. It is a testament to the unwavering spirit of those who challenge stereotypes, break records and pave the way for future generations.

“As we embark on this digital journey in just a few minutes, let us reflect on the progress that has been made and recognize the road that lies ahead. I hope that this exhibition as conceived by the artists, our teams and the Discovery Museum Abuja will inspire conversations, promote inclusion and serve as a catalyst for change in the way we perceive, celebrate and support women in the world. the sport.

The exhibition, is a culmination of meticulous planning and collaboration, seeks to explore the intricate relationship between sport and the female form, transcending mere physicality to address broader themes of empowerment, resilience, and societal change. Through digital art, viewers are invited to contemplate the challenges, achievements, and societal expectations faced by female athletes, challenging conventional narratives and championing inclusivity.

French Embassy Calls for an End in Disparity in Prize Money to Male and Female Athletes

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Russia Commends ECOWAS’ Partial Lifting of Sanctions on Niger, Mali, Burkina Faso

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Russia Commends ECOWAS’ Partial Lifting of Sanctions on Niger, Mali, Burkina Faso

By: Michael Mike

Russia has commended the decision of Economic Community of West African States (ECOWAS) to lift some of the sanctions imposed on departing members of the bloc, Niger, Mali and Burkina Faso as a result of military intervention in civilian rule.

An official statement by the Russian Ministry of Foreign Affairs on Tuesday said: “The window for dialogue between the Sahel States Alliance (SSA) and ECOWAS remains open, and the decisions made at the Abuja summit can be seen as a demonstration of political will in the interest of maintaining Community unity.”

The statement read: “On February 24th, an extraordinary summit of the Economic Community of West African States (ECOWAS) was held in Abuja, Nigeria, where the most pressing regional issues were discussed. The forum resulted in a series of important decisions, including those addressing the preservation of ECOWAS unity in light of the recent announcement by the leadership of Mali, Niger, and Burkina Faso of their “immediate” withdrawal from its membership. These countries, amidst the Community’s imposed restrictions, established a new integrative alliance in September 2023, named the “Sahel States Alliance” (SSA), aimed at consolidating efforts in national defense and security.

“It has been reported that among other measures, ECOWAS announced a partial lifting of sanctions against Niger, including the reopening of land and air borders, unfreezing of Nigerien assets in the Central Bank and Community commercial banks, resumption of trade and financial transactions, electricity supplies, and other services, as well as the provision of assistance from ECOWAS financial institutions.

“The Russian side emphasizes that the West African states should determine their own ways to resolve the current situation. The window for dialogue between the SSA and ECOWAS remains open, and the decisions made at the Abuja summit can be seen as a demonstration of political will in the interest of maintaining Community unity.

“Moscow reaffirms its unwavering readiness to enhance cooperation with Sahelian states in formats they deem most suitable for collectively addressing existing economic challenges and threats to their security.”

Russia Commends ECOWAS’ Partial Lifting of Sanctions on Niger, Mali, Burkina Faso

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