Africa’s fight for UN Security Council equity intensifies at UNGA 79
Post AMUGE
September 30, 2024
ONOME AMUGE In the face of mounting global crises and conflicts, the United Nations, conceived as an international organisation designed to safeguard peace, foster inter-state cooperation, and serve as a hub for coordinating the actions of its member states, is increasingly being called into question over its perceived inadequacies, inconsistency, double standards, and inequalities in […]
Africa’s economic growth projected at 3.4% for 2024, but uncertainties loom large, says World Bank
Post AMUGEApril 10, 2024
Onome Amuge Sub-Saharan Africa’s economy is expected to rebound from a low of 2.6 per cent in 2023 to 3.4 percent in 2024 and 3.8 percent in 2025, buoyed by increased private consumption and declining inflation. However, this rebound remains highly uncertain, and is subject to a number of downside risks, according to a World […]
Tony Elumelu Foundation stars in Harvard Business School’s new case study
Post AMUGEMarch 1, 2024
Onome Amuge Amidst geopolitical uncertainty and shifting development finance landscapes, the Tony Elumelu Foundation (TEF) has forged a groundbreaking path for mentoring, resourcing, and networking young African entrepreneurs, earning recognition from the Harvard Business School. A recent case study from Harvard Business School recently explored the innovative and transformative work of the TEF in catalysing […]
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. […]
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 […]