African Export-Import Bank (Afreximbank) (www.Afreximbank.com) and Banque De Dévelopement des Etats de L’Afrique Centrale (BDEAC), the regional development finance institution established to promote the development of the Economic and Monetary Community of Central Africa (CEMAC), have entered into a memorandum of understanding (MoU) formalising their cooperation and collaboration in promoting trade and economic development.

Under the terms of the MoU signed at the just-concluded Afreximbank Annual Meetings (AAM2024) in the Bahamas, the two institutions, which already enjoy a close and long-standing relationship, will expand and strengthen their collaboration and co-operation by joining forces to support the economic development agenda of Africa.

The institutions will also collaborate through a range of interventions and initiatives, including equity participation, facilitation of the identification, preparation and co-financing of projects, capacity building and consultation and exchange of information.

According to the MoU, the new cooperation framework will pave the way for a programme of structural transformation in the CEMAC region through a combination of infrastructure development, sustainability-linked interventions and trade finance.

Speaking on the signing, Mrs. Kanayo Awani, Executive Vice President, Intra-African Trade and Export Development Bank, Afreximbank, said that the MoU constituted an important step in the consolidation of the ongoing relationship between the two institutions and created a formal platform for cooperation on issues of mutual importance.

“In addition to the possibility of cross-shareholdings in our respective capitals, this MoU will enable us to pool our strengths in support of yet more ambitious integration projects, ultimately creating the capacity-building framework necessary for the continued long-term growth of our institutions. Afreximbank is pleased to have found in BDEAC a strategically important regional partner through, and with whom, to expand our interventions in favour of the member states of the Economic and Monetary Community of Central Africa (CEMAC) in the context of intra-regional trade and implementation of the AfCFTA,” Mrs. Awani said.

Jean Paterne Megne Ekoga, Vice-President of BDEAC, signed the MoU for his institution alongside Mrs. Awani, who signed for Afreximbank.

AAM2024, which was combined with the third AfriCaribbean Trade and Investment Forum (ACTIF2024), ended on 15 June.

Distributed by APO Group on behalf of Afreximbank.

Media Contact:
Vincent Musumba
Manager, Communications and Events (Media Relations)
press@afreximbank.com

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About Afreximbank:
African Export-Import Bank (Afreximbank) is a Pan-African multilateral financial institution mandated to finance and promote intra-and extra-African trade. For 30 years, the Bank has been deploying innovative structures to deliver financing solutions that support the transformation of the structure of Africa’s trade, accelerating industrialization and intra-regional trade, thereby boosting economic expansion in Africa. A stalwart supporter of the African Continental Free Trade Agreement (AfCFTA), Afreximbank has launched a Pan-African Payment and Settlement System (PAPSS) that was adopted by the African Union (AU) as the payment and settlement platform to underpin the implementation of the AfCFTA. Working with the AfCFTA Secretariat and the AU, the Bank is setting up a US$10 billion Adjustment Fund to support countries effectively participating in the AfCFTA. At the end of December 2023, Afreximbank’s total assets and guarantees stood at over US$37.3 billion, and its shareholder funds amounted to US$6.1 billion. Afreximbank has investment grade ratings assigned by GCR (international scale) (A), Moody’s (Baa1), Japan Credit Rating Agency (JCR) (A-) and Fitch (BBB). Afreximbank has evolved into a group entity comprising the Bank, its impact fund subsidiary called the Fund for Export Development Africa (FEDA), and its insurance management subsidiary, AfrexInsure (together, “the Group”). The Bank is headquartered in Cairo, Egypt.

For more information, visit: www.Afreximbank.com

Merck Foundation (www.Merck-Foundation.com) in partnership with African First Ladies and Ministries of Health and Medical societies provided more than 760 scholarships of one-year Post-Graduate Diploma and two-year Master Degree in Preventative Cardiovascular Medicine, Diabetes, Endocrinology, and Obesity and Weight Management to doctors from 52 countries in Africa, Asia and Latin America; These 760 scholarships are part of the total 1810 scholarships Merck Foundation provided to doctors from 52 countries in 42 critical and underserved medical specialties such as Oncology, Sexual and Reproductive Care, Acute Medicine, Respiratory Medicine, Embryology&Fertility specialty, Gastroenterology, Dermatology, Psychiatry, Emergency and Resuscitation Medicine, Critical Care, Paediatric Emergency Medicine, Neonatal Medicine, Advanced Surgical Practice, Pain Management, General Surgery, Clinical Microbiology and infectious diseases, Internal Medicine, Trauma&Orthopaedics and many more; Merck Foundation has released the First Animation films “Mark’s Pressure”, and “Sugar Free Jude”, which are adapted from their Children storybooks with the aim to raise awareness about early detection and prevention of Hypertension and Diabetes (which are corelated) and to Promote Healthy Lifestyle, amongst children and youth in Africa and beyond; Pan African TV Program “Our Africa” released by Merck Foundation addresses  Social and Health Issues such as Diabetes&Hypertension and promote Healthy Lifestyle in Africa through “Fashion and ART”, conceptualize and directed by Merck Foundation CEO, Senator, Dr. Rasha Kelej.

Click here to watch the Episode on Promoting Healthy Lifestyle: https://apo-opa.co/3zdNVSh

Merck Foundation, the philanthropic arm of Merck KGaA Germany, marks ‘World Hypertension Day 2024’ together with Africa’s First Ladies, Ministries of Health, Medical Societies and Academia, through their “Nationwide Diabetes&Hypertension Blue Points Program” by providing scholarships for young doctors to transform the patient care landscape in the fields of Hypertension, Cardiology, Diabetes and Endocrinology, and by raising awareness in communities in Africa and beyond.

Senator, Dr. Rasha Kelej, CEO of Merck Foundation stated, “At Merck Foundation we mark “World Hypertension Day” by improving access to quality and equitable Hypertension, Diabetes and Cardiovascular preventive care, which are all co-related, in Africa, Asia&Latin America.

Together with our Ambassadors – The First Ladies of Africa, and partners like Ministries of Health, Medical Societies and Academia, we have till today provided more than 760 scholarships to doctors from 52 countries, of One-year PG Diploma and Two-year Master degree in Preventive Cardiovascular, Diabetes, Endocrinology and Obesity&Weight Management, and also a special 3 month Diabetes Mastercourse in English, French, Portuguese and Spanish.

These scholarships have been provided to the young doctors to form a strong platform of experts nationwide, and not only from capitals or big cities.”

Merck Foundation has in total provided more than 1810 scholarships to doctors from 52 countries in 42 critical and underserved medical specialties.

Senator, Dr. Kelej further added “We recently launched new Fellowship Programs of One-year Clinical Cardiovascular care and One-year Clinical Diabetes, onsite training programs in India for African doctors. These programs will help us to to futher improve cardiovascular, Hypertension and Diabetes care in Africa and other developing countries.”

Dr. Victoria Mumbo, Merck Foundation alumnus from Kenya shares, “I have completed the post-graduate degree in Preventative Cardiovascular Medicine, provided by Merck Foundation. I would like to extend my gratitude to Merck Foundation for this life changing opportunity. After the completion of this course, my approach towards patient management has changed. It has helped me to also educate the community about the importance of leading a healthy lifestyle.”

Merck Foundation in partnership with African First Ladies have released  a children’s storybook and adapted animation Film “Mark’s Pressure” with an aim to focus on the causes of the early onset of hypertension and raising awareness about its early detection, prevention and management.

Through our new animation film “Mark’s Pressure”, we want to encourage our communities to reduce salt, stop sugar, exercise regularly, eat healthy and stop smoking, this is the only way to prevent and manage hypertension and diabetes, which are predominant risk factors for the development of several serious complications and diseases”, says Senator Rasha Kelej.

Watch the “Mark’s Pressure” Animation Film here: https://apo-opa.co/3VRP8Y7

Merck Foundation’s pan African TV program “Our Africa”, that is conceptualized, produced, directed, and co-hosted by Senator, Dr. Rasha Kelej, CEO of Merck Foundation and features African Fashion Designers, Singers, and prominent experts from various domains with the aim to raise awareness about social and health issues, has episodes dedicated to raise awareness about Diabetes and Promoting Healthy Lifestyle.

Watch the Episodes here:

https://apo-opa.co/3zdNVSh

https://apo-opa.co/3RuA5Bh

The show will be broadcasted on KTN Home in Kenya, every Saturday at 5:00 pm and repeated every Thursday at 6:30 am.

It is also currently on social media handles of Senator, Dr. Rasha Kelej (Facebook: http://apo-opa.co/3RdVvT8, Instagram: http://apo-opa.co/3RcCFeZ, Twitter: http://apo-opa.co/3x5PUY2 and YouTube: http://apo-opa.co/4aJfWy0) and Merck Foundation (Facebook: http://apo-opa.co/3Xbc4D0, Instagram: http://apo-opa.co/3x7ius3, Twitter: http://apo-opa.co/4aTy5sW and YouTube: http://apo-opa.co/4ejGIjF).

Merck Foundation together with African First Ladies, also launch annually, the Awards for Media, Fashion Designers, Filmmakers, Musicians/ Singers, and new potential talents in these fields from African countries to Promote a healthy lifestyle and raise awareness about prevention and early detection of Diabetes and Hypertension.

1. Merck Foundation Media Recognition Awards 2024 “Diabetes&Hypertension”: Media representatives are invited to showcase their work through strong and influential messages to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30th October 2024.

2. Merck Foundation Film Awards 2024 “Diabetes&Hypertension”: All African Filmmakers, Students of Film Making Training Institutions, or Young Talents of Africa are invited to create and share a long or short FILMS, either drama, documentary, or docudrama to deliver strong and influential messages to promote a healthy lifestyle raise awareness about prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30th October 2024.

3. Merck Foundation Fashion Awards 2024 “Diabetes&Hypertension”: All African Fashion Students and Designers are invited to create and share designs to deliver strong and influential messages to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30th October 2024.

4. Merck Foundation Song Awards 2024 “Diabetes&Hypertension”: All African Singers and Musical Artists are invited to create and share a SONG with the aim to promote a healthy lifestyle and raise awareness about the prevention and early detection of Diabetes and Hypertension.

Submission deadline: 30th October 2024.

Entries for all the awards are to be submitted via email to: submit@merck-foundation.com

Distributed by APO Group on behalf of Merck Foundation.

More Images: https://apo-opa.co/3KS7sKn

Contact details:
Mehak Handa
Community Awareness Program Manager
+91 9310087613/ +91 9319606669
mehak.handa@external.merckgroup.com

Join the conversation on our social media platforms below and let your voice be heard!
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Website: www.Merck-Foundation.com
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About Merck Foundation
The Merck Foundation, established in 2017, is the philanthropic arm of Merck KGaA Germany, aims to improve the health and wellbeing of people and advance their lives through science and technology. Our efforts are primarily focused on improving access to quality&equitable healthcare solutions in underserved communities, building healthcare and scientific research capacity and empowering people in STEM (Science, Technology, Engineering, and Mathematics) with a special focus on women and youth. All Merck Foundation press releases are distributed by e-mail at the same time they become available on the Merck Foundation Website.  Please visit www.Merck-Foundation.com to read more. Follow the social media of Merck Foundation: Facebook (https://apo-opa.co/3Xbc4D0), Twitter (https://apo-opa.co/4aTy5sW), Instagram (https://apo-opa.co/3x7ius3), YouTube (https://apo-opa.co/4ejGIjF) and Flickr (https://apo-opa.co/4ejGKbh).

With over 125 billion barrels of proven oil reserves, 620 trillion cubic feet of natural gas and abundant opportunities in solar, wind and green hydrogen, Africa has the potential to become a global hub for energy. The International Energy Agency estimates that to meet energy and climate goals, Africa requires over $200 billion in annual investment, highlighting a strategic opportunity for global financiers and project developers.

As such, the African Energy Week (AEW): Invest in African Energy conference – Africa’s premier event for the energy sector – will drive a new wave of investment in the sector. The conference convenes under the mandate of making energy poverty history by 2030, with industry experts and thought-leaders, African governments and NOCs, and energy investors and developers leading discussions on the challenges and opportunities in Africa’s energy sector. Taking place from 4–8 November in Cape Town, the event offers unparalleled access to the African industry.

AEW: Invest in African Energy is the platform of choice for project operators, financiers, technology providers and government, and has emerged as the official place to sign deals in African energy. Visit www.AECWeek.com for more information about this exciting event.

African governments are revamping fiscal policies and launching new licensing rounds to attract investments and partners, aiming to unlock the full potential of the continent’s energy sector. Over 11 licensing rounds are planned for sub-Saharan Africa between 2024 and 2025, all of which aim to attract new investment and bolster project development. At AEW: Invest in African Energy, government representatives will outline optimal energy financing mechanisms and incentives aimed at advancing energy investments. Key speakers include:

Birame Soulèye Diop, Minister of Energy, Petroleum and Mines, Senegal
Habtamu Itefa Geleta, Minister of Water and Energy, Ethiopia
Situmbeko Musokotwane, Minister of Finance and National Planning, Zambia
Diamantino Pedro Azevedo, Minister of Mineral Resources, Petroleum and Gas, Angola

African state-owned energy entities have positioned themselves as reliable partners for global energy firms, driving the continent’s energy market expansion. During this year’s AEW: Invest in African Energy conference, African NOCs and energy associations will discuss investment and partnership opportunities in Africa’s energy value chain. In addition to the first AEW: Invest in African Energy speaker lineup, featured speakers include:

Proscovia Nabbanje, CEO of the Uganda National Oil Company
Zwanani Titus Mathe, CEO, South African National Energy Development Institute

Across Africa, international energy companies are driving a series of large-scale project developments under efforts to unlock high returns, increase energy access while driving sustainable economic growth. Projects such as the Greater Tortue Ahmeyim LNG development – on track for first production this year -; the trio of LNG projects in Mozambique’s Rovuma Basin; South Africa’s offshore exploration campaigns and onshore gas projects and many more are set to transform the African oil and gas landscape. This creates newfound opportunities for regional and international technology providers, which also play a crucial role in driving Africa’s energy renaissance. A strong lineup of IOCs, technologies companies and service providers will discuss ongoing projects, future prospects and efforts to maximize Africa’s energy resources at the conference. These include:

Ainojie Alex Irune, CEO of Oando Energy Resources
Dave Campbell, Senior Vice President of bp in Mauritania and Senegal
Dennis Bauer, Senior Executive: Energy Transition Advisor, Neuman&Esser
Dennis Malkoc, Business Development Manager, Universal Africa Lines
Dmitry Khandoga, Head of International Department, Gazprom PJSC
Marica Calabrese, Managing Director and General Manager, Eni Mozambique
Matthieu Milandri, Head of Upstream Finance at Trafigura Group
Mikhail Chudakov, Head of the Department of Nuclear Energy, International Atomic Energy Agency
Nikki Martin, President&CEO,EnerGeo Alliance
Nosa Omorodion, Executive Director, SLB
Rene Awambeng, Director and Global Head of Client Relations, Afreximbank
Taelo Mojapelo, CEO, bp South Africa

During the AEW: Invest in African Energy conference, speakers will showcase projects, highlight energy financing mechanisms and government incentives, and provide insights on best practices for a just and inclusive energy transition, addressing the continent’s goals for eradicating energy poverty and promoting environmental sustainability.

Keep following for more exciting announcements about the AEW: Invest in African Energy 2024 speaker lineups! For more information, visit www.AECWeek.com. 

Distributed by APO Group on behalf of African Energy Chamber.

An emergency wheat production project in Sudan financed by the African Development Bank (www.AfDB.org) and executed by the United Nations World Food Programme (WFP) has increased wheat production in the country by up to 70% in targeted project locations across five states within the past year.

The African Development Bank provided a total of $75 million to WFP for the implementation of the Sudan Emergency Wheat Production Project over the course of two years.  

“This development comes at a critical time for Sudan, which is facing a looming hunger catastrophe due to the ongoing conflict, that has slowed down production in the past agricultural season,”Nnenna Nwabufo, the Bank’s Director General for Eastern Africa region said.

“Given the great potential that agriculture offers even under circumstances of active conflict, and with famine in Sudan on the horizon, threatening millions of lives, this project has brought a lot of hope.”

She added: “This year alone, 22 percent of the national wheat demand was met through the project. Its impressive performance has demonstrated that there are viable solutions to increasing domestic production to address the rising levels of hunger and acute malnutrition in the country. We are pleased that the scaled-up delivery of certified climate resilient wheat seed varieties and fertilizers to smallholder farmers in the target areas across the country was timely, and saved a number of lives, under the prevailing challenges of conflict.”

Mary Monyau, the Bank’s Country Manager for Sudan explained the scope of the project. “This wheat production project financed by the African Development Bank became the heart of production at this critical moment in Sudan. It provided food security, yielding 645,000 metric tonnes of wheat this year, and also became a critical crisis response intervention to the internally displaced persons,” she stated, adding, “More than 30% of the beneficiaries in the Northern State are IDPs”.

She went on: “The project was anchored on earlier game-changing wheat production initiatives under the Technologies for African Agricultural Transformation project implemented in 2018 to 2021, providing a clear example of how a longer-term development intervention can meet short-term emergency and humanitarian needs with forward-looking resilience building. We thank our development partner, the World Food Program, for implementing this project and ensuring positive outcomes in at least 5 states, namely Gezira, Kassala, River Nile, White Nile, and Northern States, despite the active conflict in the country.”

Summarising the scenario, WFP Sudan Representative and Country Director, Eddie Rowe, said: “The ongoing conflict in Sudan has had a devastating impact on agriculture. Sudan produced merely half the wheat it would have produced in a typical year. Thanks to funding from the African Development Bank, WFP was able to mitigate some of the impacts of this war on wheat production.”

The project distributed climate-adapted wheat seeds and fertilizers to over 170,000 smallholder farmers in the five states during the 2023-2024 agricultural season, covering areas largely located in the relatively stable northern and eastern states of Sudan where conflict has not yet spread, as well as conflict-affected areas such as Gezira and White Nile states.    

The yield of 645,000 metric tonnes of wheat this year accounted for 22 percent of the total wheat consumption needs of Sudan.  On average, farmers reported a 44 percent increase in productivity per hectare as compared to the previous season. Around 16,000 of the farmers who received support had been newly displaced by conflict in the last 13 months. The project offered support and resources for these farmers to rebuild their livelihoods. In addition, 12 harvester machines were provided to farmers’ associations in River Nile and Northern states to enable them harvest more efficiently to significantly reduce losses.

Sudan, which is facing an unprecedented hunger catastrophe, risks becoming the world’s largest hunger crisis. A new WFP analysis has identified 41 hunger hotspots, noting that about 2.1 million people are at high risk of falling into IPC 5 (Integrated Food Security Phase Classification) if they do not urgently receive humanitarian assistance.

Investments in agricultural productivity in Sudan are critical to increasing crop yields and food availability in the face of devastating levels of violence and hunger.

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contacts:
Joyce Mulama
Communication and External Relations
email: media@afdb.org

Technical contact:
Maurice Wanyama
+254722370853
email: m.wanyama@afdb.org