WMO forecasts 90% chance Earth to be hotter by end-2025 than Paris goal
BEN EGUZOZIE
May 31, 2021
…Atlantic Ocean to brew more potentially dangerous hurricanes …For this year, large parts of Northern Hemisphere lands to be 1.4 degrees warmer …Africa, already hit by $15bn climate cost, to come off worse than other regions Ben Eguzozie, in Port Harcourt A new World Meteorological Organization (WMO) forecast predicts that for […]
New Deal for Africa by European, African leaders to stimulate $33bn SDRs for continent post-Covid recovery plan
BEN EGUZOZIEMay 28, 2021
…IMF: Africa needs $285bn post-Covid recovery additional financing Ben Eguzozie, in Port Harcourt A ‘New Deal for Africa’ proposed at the just-concluded Paris African Financing summit looks to get Africa access to $33 billion in Special Drawing Rights (SDRs) for its post-Covid-19 recovery and sustainable growth plan. The leaders […]
Afreximbank shows strong growth in Q1 2021
BEN EGUZOZIEMay 27, 2021
…Net income rose 4% to $87.3m via 23% growth in net interest income Ben Eguzozie, in Port Harcourt Pan-African multilateral financial institution, African Export-Import Bank (Afreximbank) has released its unaudited financial statements for three months ended 31 March 2021, showing strong and resilient growth, ahead of prior year results and in line with expectations. […]
Nigeria, others to benefit from World Bank’s $150bn 5-yr additional Africa investment
BEN EGUZOZIEMay 27, 2021
…To benefit from funding over the next five years …Nigeria, continent’s top economy, needs $3-trn over-30-yr to meet huge infrastructure gap Ben Eguzozie, in Port Harcourt Nigeria and other 54 African countries would benefit from the World Bank’s additional $150 billion investment plan in Africa over the next five years. […]
UK prime minister announces plan for ‘Global Pandemic Radar’
Mike OchonmaMay 26, 2021
Mike Ochonma UK prime minister; Boris Johnson, has launched plans for a new ‘Global Pandemic Radar’ to identify emerging COVID-19 variants and track new diseases around the world, ahead of the Global Health Summit hosted by Italy and the EU. The pathogen surveillance network will save lives and protect health systems by spotting diseases […]
IMF earmarks $50bn to end COVID-19 pandemic faster
Zainabs IwayemiMay 24, 2021
Nigeria, others to benefit from EBRD-AfDB’s partnership to bridge $2.5-trn Africa development financing gap
BEN EGUZOZIEMay 20, 2021
Ben Eguzozie, in Port Harcourt Nigeria and other African Union (AU) members stand to benefit from an African Development Bank Group (AfDB) and European Bank for Reconstruction and Development (EBRD) partnership deal that would catalyse new sources of financing to help bridge the $2.5 trillion annual financing gap for development in […]
IFC announces $2bn investment to speed up Africa’s MSMEs’ recovery from Covid-19
Charles AbuedeMay 19, 2021
Charles Abuede As the African continent grapples with the covid-19 that has plunged the continent into a recession, created a shortfall in the inflows of FDI and dropped millions into poverty, the International finance Corporation, member of the World Bank Group, has announced a $2 billion commitment in new direct financing for micro, […]
African states to get $100bn from rich nations in IMF SDRs reserves by October
Charles AbuedeMay 19, 2021
Charles Abuede At the summit in Paris on Africa financing, Emmanuel Macron, President of France, agreed to work towards convincing rich nations to reallocate $100 billion in their IMF special drawing rights (SDR) to African states by October and stating in agreement with other African and European leaders at the summit, that impoverished African states […]
Afreximbank begins construction of Africa Quality Assurance Centre in Nigeria
Wale AmeenMay 19, 2021
…Centre, in Ogun state, to provide 400 jobs in local area, with 180 skilled Ben Eguzozie, in Port Harcourt African Export-Import Bank (Afreximbank) announces the commencement of construction of its Africa Quality Assurance Centre (AQAC) in Nigeria. The Centre, sited in Ogun State, will be a state-of-the-art facility with the […]