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5 African Presidents, others meet to discuss Africa’s post-COVID economy at AEC – Organisers

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Presidents from five African countries are set to converge on Sal Island, Cape Verde, for the African Economic Conference, 2021, organisers said on Wednesday.

The presidents to be attending the high-level economic meeting include:  President Nana Akufo-Addo of Ghana; President José Maria Neves of the Republic of Cape Verde and President Felix-Antoine Tshilombo of the Democratic Republic of the Congo.

Others are President Paul Kagamé of the Republic of Rwanda and President Macky Sall of the Republic of Senegal.

The 2021 event which has as its theme: “Financing Africa’s post-COVID-19 development”, will also feature more than 100 other speakers from African governments, private sector, and leading academics.

Scheduled to hold from Dec. 2 to Dec. 4, the annual event is organised by the United Nations Development Program (UNDP), the African Development Bank Group (AfDB) and the United Nations Economic Commission for Africa (UNECA).

The focus of the meeting for 2021 would be to develop new ways to finance Africa’s post-Covid-19 recovery and accelerate its development.

The UNDP, AfDB and UNECA said for three days, decisionmakers will also reimagine development financing, discuss the reform of Africa’s financial systems to meet development challenges and assess whether Africa is on the verge of a new debt crisis.

“The COVID-19 crisis has increased Africa’s development financing challenges by constraining public finances, which has led to increasing debt and dwindling foreign direct investment.

“Across the continent, the pandemic has left more than 30 million people in extreme poverty and living on less than 1.90 dollars a day.

“Still, access to international capital markets, a growing debt financing source for many African countries, has declined as investors’ perception of the risks increases.

“Capital flight from Africa, estimated at over 90 billion dollars since January 2020, and investor risk aversion have caused volatile market movements.

Similarly, organisers said, tightening global financing conditions make it more expensive for governments to secure the financing they need to recover from the pandemic and refinance maturing debt.

It is therefore on the heels of the above listed premises that organisers are gathering policy makers and industry experts to converge on Cape Verde to chart a possible way forward out of the economic quagmire.

The UNDP, AfDB and UNECA argue that it had become pertinent to have such as discuss as populations across Africa are on the brink of extreme poverty, with African countries announcing stimulus packages to stem the tide.

Conference organisers added that while the packages are lifesaving, there was also an urgent need for significant additional gross financing in 2022.

The organisers added that for the conference, papers had been submitted by prominent researchers who have proffered innovative ideas on mobilizing domestic resources in the age of the digital revolution; enhancing Africa’s position in the international financial system; and reviewing the role of public development banks.

“These papers are also expected to guide the discussion of sustainable finance solutions, regional integration and the role of the global financial safety net; policy options for managing capital flow volatility; financial regulatory reforms and the role of climate risks,” they said. (NAN)

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International

Ghana Repatriates Citizens From South Africa Amid Rising Anti-Foreigner Violence

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The government of Ghana has commenced the repatriation of its citizens from South Africa following weeks of anti-foreigner protests and xenophobic attacks that targeted African migrants living in the country.

The first evacuation flight carrying nearly 300 Ghanaians departed Johannesburg early Wednesday and is expected to arrive in Ghana later in the day. Ghanaian authorities disclosed that about 800 nationals had registered for voluntary repatriation after tensions escalated in several South African communities.

The repatriation exercise follows a wave of hostility against foreign nationals, particularly African immigrants, after videos circulated widely on social media showing confrontations and assaults involving migrants. The incidents reignited fears of xenophobic violence in South Africa, a country that has witnessed recurring anti-immigrant unrest over the years.

Stephen van Neel, head of Immigration and Law Enforcement at South Africa’s Department of Home Affairs, said investigations conducted during the evacuation process revealed that only 10 of the nearly 300 departing Ghanaians possessed valid residency status in the country.

According to him, the majority were found to be undocumented migrants, permit overstayers, or individuals who failed to comply with immigration regulations. He added that South African authorities would enforce appropriate immigration sanctions against affected persons.

Witnesses at Johannesburg’s OR Tambo International Airport reported that men, women, and children arrived in buses before dawn to board the evacuation flight. However, some individuals were unable to travel after encountering documentation-related complications. Officials said those affected could be considered for a second evacuation flight expected later this week.

The anti-foreigner protests reportedly intensified last month after viral videos showed South Africans openly confronting African migrants and questioning their presence in the country. In one widely shared clip, a Ghanaian man was confronted by a group demanding to know why he had relocated to South Africa. Another video showed a man believed to be Ghanaian being physically assaulted.

The developments prompted strong diplomatic reactions from Ghanaian authorities. Ghana’s Foreign Affairs Minister, Samuel Ablakwa, summoned South Africa’s Acting High Commissioner to Ghana, Thando Dalamba, to formally express what he described as Ghana’s “strong concern” over the intimidation and harassment of foreign nationals.

Addressing the evacuees before departure on Wednesday, Ablakwa assured them that adequate arrangements had been made for their reintegration upon arrival in Ghana. He announced a five-point support package prepared by the government to assist returning citizens.

“You are not refugees, you are not some destitute. Ghana is not some war zone where we cannot take care of our own,” the minister told the returnees.

He stated that the evacuation operation demonstrates Ghana’s commitment to safeguarding its citizens abroad and responding swiftly during emergencies affecting nationals overseas.

Nigerians were also among those affected by the renewed xenophobic tensions in South Africa. According to the Nigerian Consulate in Johannesburg, at least two Nigerians were killed during the attacks.

Earlier this month, Nigeria’s Minister of State for Foreign Affairs, Bianca Odumegwu-Ojukwu, disclosed that President Bola Tinubu had directed relevant authorities to arrange evacuation flights for Nigerians willing to return home voluntarily.

Frank Onyekwelu, president of the Nigerian community in South Africa, said more than 130 Nigerians had already registered for repatriation. However, details regarding the proposed evacuation flights have yet to be officially announced.

Nigeria’s Ministry of Foreign Affairs said on Wednesday that further updates concerning the evacuation arrangements would be made public next week.

The latest developments have once again drawn international attention to the recurring issue of xenophobia in South Africa, where frustrations linked to unemployment, crime, and economic hardship are often directed at foreign nationals, particularly migrants from other African countries.

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Nigeria Urges South Africa to Act Against Attacks on Nigerians

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The Federal Government of Nigeria has called on South Africa to take firm and immediate action to stop ongoing violence targeting Nigerians and other foreign nationals in the country.

This appeal was made during a meeting in Abuja between Dunoma Ahmed, Permanent Secretary of the Ministry of Foreign Affairs, and Lesoli Machele.

Speaking to journalists, the ministry’s spokesperson, Kimiebi Ebienfa, said the meeting was convened in response to recent xenophobic attacks and protests in parts of South Africa. According to him, some protesters have been calling for foreigners—especially black immigrants—to leave the country.

Ebienfa described circulating videos and reports from South Africa as disturbing, noting that they contradict the long-standing friendly relationship between both nations.

He also revealed that Nigeria’s High Commission in Pretoria and Consulate in Johannesburg are closely monitoring the situation and sending regular updates to the government.

The Nigerian government further expressed concern over the reported deaths of two Nigerians, Amaramiro Emmanuel and Ekpenyong Andrew, allegedly linked to encounters with South African security agencies. Authorities say the circumstances surrounding their deaths have raised serious questions about the conduct of security personnel.

While acknowledging statements by South African officials condemning violence, looting, and extrajudicial actions, Nigeria emphasized the need for these commitments to be backed by concrete action on the ground.

The Federal Government also called for the urgent activation of an existing memorandum of understanding (MoU) between both countries. The agreement is designed to enable early warning systems, improve communication, and help prevent escalation of threats against Nigerians living in South Africa.

Nigeria urged South Africa to take decisive steps to restore confidence among Nigerians residing there and ensure they can live safely and with dignity.

Ebienfa also mentioned that the government is aware of a recent protest by a group of Nigerians at the South African High Commission in Abuja. He appealed for calm and reassured that Nigeria remains committed to protecting diplomatic missions in line with international obligations.

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International

Trump Says Middle East War Could End ‘Very Soon’ as Markets Rally

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United States President Donald Trump has said the ongoing Middle East conflict could end within weeks, expressing confidence that the war may be concluded “very soon.”

Speaking at the White House, Trump told reporters that U.S. forces could withdraw from Iran within “two weeks, maybe three,” adding, “we’re finishing the job.” He also indicated that a diplomatic agreement could still be reached before any final military outcome.

Earlier, Iranian President Masoud Pezeshkian said Tehran possesses “the necessary will” to end the conflict, provided key conditions are met, including guarantees against future aggression.

The remarks from both leaders raised hopes for a resolution to the month-long crisis, prompting a surge in global financial markets. On Wall Street, the Nasdaq Composite rose 3.8 percent, while the S&P 500 gained nearly three percent.

Asian markets also posted strong gains, with major indices in Seoul, Tokyo, and Taipei rising sharply, alongside advances in Hong Kong, Shanghai, Sydney, Singapore, Manila, and Jakarta.

Despite the optimism, oil markets remained volatile amid concerns over the strategic Strait of Hormuz, through which roughly 20 percent of global oil and gas supplies pass. Trump stated that the United States would not intervene to reopen the strait if it were blocked, suggesting other nations should take responsibility.

Meanwhile, Israeli Prime Minister Benjamin Netanyahu signaled continued military operations, stating that Israel would press on with its campaign against what he described as a “terror regime.”

The economic fallout from the conflict has intensified, with U.S. gasoline prices surpassing $4 per gallon for the first time in four years and inflation pressures rising in Europe. Analysts warn that sustained high oil prices—currently above $100 per barrel—could further strain global economic growth.

Additional tensions emerged following reports that the United Arab Emirates is considering supporting efforts to reopen the Strait of Hormuz, potentially under a United Nations mandate, which could mark a significant escalation.

As diplomatic signals remain mixed, analysts caution that uncertainty surrounding the conflict and global energy supplies is likely to persist in the near term.

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