Published: January 25, 2023 11.45am SAST Author:Theophilus Acheampong Associate Lecturer, University of Aberdeen Ghana is facing multiple financial and economic challenges and has requested a US$3 billion bailout from the International Monetary Fund (IMF) to help it restore macroeconomic stability. This will include bringing public debt down to more manageable levels from the currently estimated 105% of GDP to 55% in present value terms by 2028. IMF assistance, which is yet to be approved by the fund’s executive board, is conditional on Ghana restructuring its public debt – domestic and external – which in turn requires the…
Category: ECONOMY
Abu Dhabi Sustainability Week 2023: Seychelles President Ramkalawan advocates for Small Island Nations alongside President of Palau during ADSW Summit
19 January 2023 | Foreign Affairs Abu Dhabi, UAE 19th January 2023: During the Abu Dhabi Sustainability Week 2023, the President of Republic of Seychelles, Mr Wavel Ramkalawan participated in a panel conversation alongside the President of the Republic of Palau, H.E. Surangel S. Whipps, Jr that was Moderated by Anchor & Correspondent, CNN Eleni Giokos. During this particular session, the two Heads of State contributed to ADSW Summit by sharing their perspective on the roles and responsibilities of nation leaders in climate control, combating climate change and achieving Net Zero.…
OIC Secretary-General Meets with Foreign Minister of Chad
Jeddah, 24 January 2023 The Secretary-General of the Organization of Islamic Cooperation (OIC), H.E. Mr. Hissein Brahim Taha, met today, January 24, 2023, at the OIC Headquarters in Jeddah, with H.E. Ambassador Mahamat Saleh Annadif, Minister of Foreign Affairs, Chadians Abroad and International Cooperation of the Republic of Chad.During this meeting, the Chadian Foreign Minister reiterated the importance that his country attaches to the role of the OIC, and its support for the efforts deployed by the Secretary-General to achieve the OIC goals. For his part, the Secretary-General reaffirmed the…
Graduate Mentorship Coaching Programme,4th Cohort Gets Set
…….As 40 Africans from 15 African Countries Enrolled!!! Story: Mohammed Abu The Africa Graduate Mentorship and Coaching Programme (AGMCP), which is facilitated by the Interconnections for Making Africa Great Empowered and Sustainable (IMAGES) Initiative, has enrolled 40 Africans from 15 countries into the mentorship and coaching programme for the 4th cohort, according to a Press Release issued in Ibadan, on Tuesday. “Interested organizations working on agriculture and food systems in Africa may contact us for mutually-rewarding partnership to develop the capacity of the mentees”, said, Dr Olawale Olayide the President…
New Year Message 2023 by the President of the Republic of Seychelles, Mr Wavel Ramkalawan
31 December 2022 | Seychellois sisters and brothers, Like the song says ‘a year ends and another begins.’ The year 2022 has already passed into history. Each of us will note certain dates with joy, pain, sadness, a feeling of accomplishment as well as missed opportunity. 2022 is a book already written and 2023 offers us this new page on which to write another year of our personal story, the story of our country and the story of the world. Allow me in the first place to use that very…
Hydroelectric power plant in Hatta,UAE, is 58% complete: DEWA
The power plant will have a production capacity of 250 MW, a storage capacity of 1,500 Mwh, and a life span of up to 80 years once completed Dubai Electricity and Water Authority (DEWA) has announced that the pumped-storage hydroelectric power plant site, which it is building in Hatta, is 58 per cent complete. The power plant will have a production capacity of 250 MW, a storage capacity of 1,500 Mwh, and a life span of up to 80 years once completed. It is the first station of its kind…
Africa’s free trade area offers promise for cities – but only if there’s investment
Published: July 25, 2022 3.57pm SAST The African Continental Free Trade Area came into operation on 1 January 2021. This is a considerable achievement. The free trade area is now the world’s single largest market for goods and services, when measured by number of countries, after the World Trade Organisation. It is also the largest in terms of geographic area and population size. If implemented as foreseen by the agreement, the free trade area will unlock significant growth for the African continent. The World Bank has estimated that by 2035, trade between African countries…
Securing Minnesota’s bid for Hosting World Expo 2027
MAU intensity’s Campaign as U.S.-Africa Leaders’ Summit hold Mohammed Abu The Minnesota Africans United (AU) delegation representing Diaspora Community groups from all 54 nations of Africa is in Washington for the entire week of activities related to the on-going U.S.-Africa Leaders’ Summit. The move is intended to garner support for Minnesota as the host city for the World Expo 2027 event. The targeted audience are, African Heads of State, Foreign Ministers, Cabinet Members and other officials from the 49 African nations taking part in President Biden’s U.S. Africa Leaders’ Summit.…
African Economic Conference 2022 urges development community to “walk the talk” on innovative solutions to fight climate change
Participants asserted that achieving net zero emissions—the crux of the three-day conference—can be accomplished if all stakeholders are robustly engaged BALACLAVA, Mauritius, December 12, 2022/ — The 17th African Economic Conference ended on Sunday with a charge to the development community and governments to take decisive actions to address climate change. The African Development Bank, United Nations Economic Community for Africa, and United Nations Development Programme, the conference hosts, called on participants to walk the talk by producing concrete solutions for climate-smart development on the continent. Participants asserted that achieving…
African Development Bank Group President appoints Senegal’s former Minister Amadou Hott as Special Envoy for the Alliance for Green Infrastructure in Africa
The Alliance will mobilize up to $500 million needed for a robust pipeline of bankable, greener projects ABIDJAN, Ivory Coast, December 13, 2022/ — African Development Bank Group (http://www.AfDB.org) President Dr. Akinwumi Adesina has appointed Senegal’s former minister Amadou Hott, as his Special Envoy and global champion for the Alliance for Green Infrastructure in Africa (AGIA). The African Development Bank, Africa Union and Africa50 launched the Alliance during COP27 last November with global partners: the African Union Development Agency, the African Sovereign Investors Forum, the European Investment Bank, the European Bank…