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

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4 years ago

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COVID-19.
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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

Finnish Court Jails Simon Ekpa Six Years for Terrorism

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2 months ago

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September 1, 2025

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Simon Ekpa
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A Finnish court on Monday sentenced Nigerian-born Finnish politician Simon Ekpa to six years in prison for terrorism-related offences.

The Päijät-Häme District Court found the 40-year-old former Lahti municipal councillor guilty of participating in a terrorist organisation, incitement to commit crimes for terrorist purposes, aggravated tax fraud, and violations of the Lawyers Act.

Prosecutors said that between 2021 and 2024, Ekpa promoted the independence of the so-called Biafra region in Nigeria through illegal means, using social media to influence followers and support armed groups the court classified as terrorist organisations.

The court ruled that Ekpa provided weapons and explosives through his contacts and urged his supporters on X, formerly Twitter, to commit crimes in Nigeria. He denied all charges.

Ekpa was arrested in December 2024 and tried over 12 sessions earlier this year. A three-judge panel delivered the unanimous verdict, ordering him to remain in custody.

 

 

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International

In Brazil, Tinubu Calls for Innovation-Driven Transformation in Nigeria

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2 months ago

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August 27, 2025

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President Bola Tinubu
President Bola Ahmed Tinubu
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President Bola Tinubu has reaffirmed his administration’s commitment to positioning Nigeria as a leader in Africa’s development, with a focus on technology, food security, and innovation.

Speaking to Nigerians in Brazil on Wednesday, Tinubu described his visit as a strategic step to deepen bilateral ties and learn from the South American country’s rapid development.

“Once upon a time, Nigeria and Brazil stood on the same level. Look at Brazil today — its technology, its food systems. We must ask ourselves: what do they have that we don’t? We have the brains, the energy, and the youth. We have everything we need. Now, we must act,” he said.

The President stressed that his government is laying the foundation for partnerships in manufacturing, technology, and cultural exchange, with the goal of unlocking Nigeria’s potential.

Acknowledging the difficulties citizens face due to ongoing economic reforms, Tinubu insisted that the measures are necessary for long-term prosperity.

“Yes, the reforms are tough — like bitter medicine. But once the fever is gone, you know the cure was worth it,” he said.

He commended the Nigerian diaspora community in Brazil, urging them to see themselves as critical stakeholders in building a new Nigeria.

“You are the pride of our nation. Your diversity, your commitment — it reflects the Nigeria we are working to build. I salute you all,” Tinubu stated.

The President further called for unity and resilience among Nigerians, adding that the dream of a prosperous nation must be pursued with urgency.

“If Wole Soyinka, at over 90, can still dream and act, then we have no excuse. The dream must be realised. The time is now,” he said.

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International

Tinubu Arrives in Brazil for Two-Day State Visit After U.S. Stopover

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3 months ago

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August 25, 2025

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President Bola Ahmed Tinubu stepping out from Airplane
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President Bola Tinubu has arrived in Brasília, Brazil, for a two-day state visit focused on deepening bilateral ties and securing new investments.

Tinubu, who flew in from Los Angeles after attending the Tokyo International Conference on African Development (TICAD9) in Japan, was received at the Brasília Air Base by senior Brazilian government officials, including Ambassador Carlos Sérgio Sobral Duarte, Secretary for Africa and the Middle East, and Carlos José Areias Moreno Garcete, Brazil’s Ambassador to Nigeria.

Nigeria’s Minister of State for Foreign Affairs, Bianca Ojukwu, also joined the reception. Other cabinet ministers, heads of key agencies, and private sector representatives later welcomed the president at his hotel.

The official welcoming ceremony, with full military honours, is scheduled for Monday at the Planalto Palace.

According to presidential aides, the visit will focus on activating multi-billion-dollar agricultural investments, advancing the $1.1 billion Green Imperative mechanisation project, and attracting fresh foreign direct investment in Nigeria’s agriculture and energy sectors.

Tinubu is also expected to participate in a Nigeria–Brazil business forum, bilateral meetings, and the signing of agreements and memoranda of understanding in technology, aviation, renewable energy, and climate resilience.

The presidency has not disclosed when the president is expected to return to Abuja.

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