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Joint Press Statement between Ms. Giorgia Meloni, Prime Minister of Italy, and Dr. Akinwumi A. Adesina, President of the African Development Bank Group—G7 Heads of State and Government Summit

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The Prime Minister (PM) of Italy, Ms. Giorgia Meloni, and the President of the African Development Bank Group (www.AfDB.org), Dr. Akinwumi A. Adesina, met on the sidelines of the G7 Heads of State and Government Summit in Puglia. Their discussion focused on the forthcoming launch of a series of joint initiatives to support the implementation of Italy’s Mattei Plan for Africa and Rome Process on Migration and Development agenda as agreed during the Italy-Africa Summit held in Roma in January 2024.

“Italy’s ‘Piano Mattei’ will foster economic and strategic partnerships with African nations and institutions, and the African Development Bank Group is our main strategic financial partner for its implementation. Our collaboration will sustain the development of initiatives with Africa’s public and private sectors, with additional opportunities for Italian businesses”, Prime Minister Meloni said.

President Adesina said: “I applaud Prime Minister Meloni for her launch of the Mattei plan and for selecting the African Development Bank Group as its strategic partner to deliver it for Africa. Our partnership will deliver impactful development impacts across African countries, expand access to energy, tackle climate change, support food security, boost health services, and expand skills and jobs for the youth. This will help create more economic opportunities in Africa and help stem drivers of migration.”

Establishment of a Multi-donor Special Fund to serve the Mattei Plan for Africa and the Rome Process on Migration and Development. The Fund targets high impact and climate aligned investments in key strategic sectors in support of sovereign entities in Africa. Thanks to its multi-donor nature, it will be able to attract other international partners to combine forces and leverage funding. An initial pledge of around $130 million in highly concessional loans and grants has been announced by Italy, together with an additional commitment by the United Arab Emirates (UAE). The African Development Bank Group has committed to at least match the Fund’s contributions on each project with its own resources.

Bilateral agreement between Italy and the African Development Bank Group encompassing a cofinancing arrangement and trust fund to finance joint projects. Italy has committed approximately $150 million in highly concessional loans and grants and the African Development Bank Group will at least match this amount. The objective is to pursue Italian and African Development Bank Group priorities as set out by the Mattei Plan for Africa and by the Italian Development Cooperation strategy, to foster economic and strategic partnerships with African nations and institutions by building common business opportunities and scaling up investment flows. The priority areas are energy, water, agriculture, health, education and training and infrastructure both physical and digital.

A common platform to promote private sector investments, the Growth and Resilience platform for Africa (GRAf). The platform aims to mobilize equity capital to regional funds that would finance entrepreneurial activities to support job creation in Africa. The Italian development financial institution, Cassa Depositi e Prestiti (CDP), has indicated the intention to catalyze up to around $820 million over a five-year horizon alongside key African and international partners, with CDP and the African Development Bank Group each considering up to $200 million over the same period.

Moreover, Italy has already committed to contributing up to $45 million to the Alliance for Green Infrastructure in Africa (AGIA) (apo-opa.co/3Xk8iHm), a transformative initiative promoted by the African Development Bank Group, the African Union and Africa50 aimed at mobilizing $10 billion to support investment in green infrastructure across Africa.

The Bank management will diligently convoy these joint initiatives through the Bank Group’s decision-making process.

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

Download pictures here: apo-opa.co/3VGYE05

Media contact:
Communication and External Relations Department
media@afdb.org

About the African Development Bank Group:
The African Development Bank Group (AfDB) is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 34 African countries with an external office in Japan, the AfDB contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org  

Nigeria begins selling four genetically modified Tela maize varieties, Ethiopia, Mozambique expected to follow

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Nigeria begins selling four genetically modified Tela maize varieties, Ethiopia, Mozambique expected to follow

By our staff reporter

Nigeria has started selling four genetically modified Tela Maize types. Ethiopia and Mozambique, who are working on the same project, are expected to make similar progress in the near future.

The commercial release of the maize varieties SAMMAZ 72T, SAMMAZ 73T, SAMMAZ 74T, and SAMMAZ 75T was announced during a ceremony held on Tuesday, June 11 in Abuja, the most populous nation on the continent.

The National Varieties Release Committee (NVRC) approved the varieties in January of this year. They are resistant to drought, stem borers, and fall armyworms, which increases yield and has the potential to double Nigeria’s maize production.

During the launch event, Ado Adamu Yusuf (Prof), Executive Director of the Institute for Agricultural Research (IAR) Samaru, Ahmad Bello University, Zaria, Nigeria, stated, “We are not only introducing maize varieties that will save Nigerian farmers the cost of production, by reducing chemical insecticide sprays by up to 2 billion Naira annually, but also ensuring sustainable food security in the country and across the West African sub-region.”

According to Ado, the program began over five years ago when Nigeria joined the TELA Maize Project Public-Private Partnership in 2019. The initiative was created to address the main challenges faced by African farmers at the time: drought and insect pests, including stem borers and fall armyworms.

The new maize variety, unveiled by Minister of State for Agriculture and Food Security Sabi Abdullahi during the Tela Maize Nigeria Launch, is expected to provide sustainable crop production in Nigeria and significantly reduce production losses.

However, the challenge with Tela maize is that, with proper agronomic procedures, its high yielding potential could reach up to 10 tonnes per hectare, compared to the existing three tons.

The introduction of Tela maize varieties in Nigeria, supported by the African Agricultural Technology Foundation (AATF), demonstrates the Federal Government’s and the agricultural foundation’s commitment to providing Nigerian farmers with advanced, resilient crop varieties.

While fall armyworms have the potential to destroy up to 20 million metric tons of maize annually in Africa, enough to feed 100 million people, stem borers also contribute to reduced maize output in various African countries.

According to AATF, the varieties are suitable for Guinea, the Sudanese savannas, and rainforests. The program is supported by AATF in many sub-Saharan countries, including Ethiopia.

The release and registration of the four varieties followed environmental release approval granted by the National Biosafety Management Agency (NBMA) in October 2021.Through the TELA Maize Public-Private Partnership, coordinated by AATF, the Institute for Agricultural Research (IAR) Samaru, Ahmadu Bello University Zaria, oversaw the development of the improved varieties.

The TELA Maize Project is currently being implemented in five countries – Ethiopia, Kenya, Mozambique, Nigeria, and South Africa.

“We believe that effective regulatory oversight and sustained political goodwill are critical to promoting innovation for development. This is what has ensured timely delivery of the TELA Maize technology to an eager farming community in Nigeria,” said the AATF Executive Director, adding that TELA Maize varieties will boost maize yields, providing more food and income for farmers.

These varieties will reduce pesticide use, thus lowering the overall cost of maize production, making farming more profitable and sustainable, according to Canisius.

Ado Adamu Yusuf (Prof), stated, “I dare to say, if Nigeria is food secure, the entire West Africa region will be free from the challenges of insecurity.” The Tela Maize is also being tested in Ethiopia and Mozambique. The Latin word ‘tutela’, which means ‘protection’, is the source of the name ‘Tela’.

Bacillus thuringiensis (BT), a common soil-dwelling bacterium, provides insect protection to the hybrid maize that eight seed firms in Nigeria will carry out the multiplication and supply to the farmer. BT products have a history of safe cultivation and consumption and have been deployed and used safely in many regions of the world for over 20 years. For more than a decade, BT maize has been produced and consumed in South Africa.

Aggrey Ambali (Prof), Chairperson of AATF Board of Trustees, called on other African nations to look to Nigeria’s example and consider the benefits that biotechnology can bring to their agricultural sectors.

“By embracing innovative technologies, we can collectively work towards a food-secure Africa, where our farmers are empowered, our economies are strengthened, and our people are well-nourished,” he said.

Getahun Nana resigns as Chairperson of Goh Betoch Bank

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Getahun Nana resigns as Chairperson of Goh Betoch Bank

By our staff reporter

Getahun Nana, a reputable figure in the financial industry and the founding board chairperson of the one and only mortgage bank Goh Betoch Bank (GBB), has stepped down from his position.

Getahun, the long-serving vice governor of the National Bank of Ethiopia, a regulator of the financial sector and former president of the state-owned Development Bank of Ethiopia, a policy bank, stated that he was leaving his position to devote all of his time to the recently established training and consulting business that he oversees.

Getahun told Capital, “I will keep supporting the bank in which I have a stake.”

The former board chairperson is one of the organizers and top leaders who established the bank that opened its doors in October 2021 with a significant capital investment and a large pool of shareholders.

Getahun is currently leading Capital Financial Excellence Center (CaFEC), which was founded by financial institutions and individuals in the sector.

According to information Capital obtained from the bank, Getahun has been replaced by Belachew Hurrissa, who joined the board of directors in 2020.

Belachew has extensive expertise in a variety of industries and held the position of chairman at the Cooperative Bank of Oromia. Goh is intended to help the housing industry, but it also engages in commercial banking to sustain its main business arm.

CaFEC, which is involved in sector capacity building, was founded by 10 banks, nine insurers, two networks of financial institutions, one microfinance institution, and 20 individuals with 61.6 million birr capital.

Earlier this year, GBB, the first private mortgage finance company, also assigned Girum Tsegaye, who replaced the founding CEO Mulugeta Asamre, a seasoned leader in the banking sector, who resigned from his position due to a personal issue.

African Development Bank Appoints Dr. Eric Kehinde Ogunleye as Director of African Development Institute

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The African Development Bank (www.AfDB.org) has appointed Dr. Eric Kehinde Ogunleye, a seasoned macroeconomist, as Director of the African Development Institute (apo-opa.co/4cjzZUN), effective June 1, 2024.

Ogunleye, a Nigerian national, has nearly 20 years of experience in macro and development economics, capacity development, public governance and regulatory reform, monitoring and evaluation, and policy advisory. His career includes designing and leading innovative, context-specific capacity development and policy advisory initiatives at the highest levels of national governance, achieving significant global partnerships and impactful results.

He previously served as the Officer in Charge of the African Development Institute and Manager of the Institute’s Policy Management Division. He was also previously an Advisor to the Chief Economist and Vice President of the Economic Governance and Knowledge Management Complex. He played a crucial role in developing and implementing the Bank Group’s Capacity Development Strategy (2021-2025) and related initiatives, such as the Public Finance Management Academy for Africa and the Macroeconomic Management Academy for Africa.

Ogunleye has significantly enhanced the Institutional Capacity Building and Fiduciary Clinics, which now consistently cover 20 country portfolios annually, improving the quality of the Bank’s operations and portfolios in Regional Member Countries.

In December 2022, Ogunleye successfully launched the Public Finance Management Academy for Africa, featuring an 18-month structured training program across the entire public financial and debt management cycle. This initiative has trained over 145 public officials from 45 African countries as Public Finance Management experts. He currently leads multiple technical assistance projects, including macroeconomic modelling and policy dialogues, to address entrenched and emerging development challenges in African countries. He has also forged numerous partnerships at global, continental, regional, national, and sub-national levels to support these initiatives.

Before joining the Bank, he was Special Assistant to the President of Nigeria on International Trade and Finance and later as Special Advisor to the Chief Economic Advisor to the President. He played a pivotal role in policy research, institutional capacity development, and monitoring and evaluation of socio-economic policies. He contributed to Nigeria’s Economic Recovery and Growth Plan, which lifted the country out of recession. Additionally, he served as a long-term consultant (Country Macroeconomist) in the Nigeria Country Department of the Bank Group, coordinating macroeconomic analysis in Nigeria and supporting the Bank’s diverse development projects portfolio.

Ogunleye’s previous roles also include Research Fellow at the African Center for Economic Transformation, Doctoral Researcher at the United Nations University’s World Institute for Development Economics Research, Doctoral Research Intern at the World Trade Organization, and International Research Consultant at the United Nations Conference on Trade and Development. He has also taught and conducted research as a Lecturer at the University of Calabar, Nigeria.

He holds a PhD and MSc in Economics from the University of Ibadan, Nigeria, a BSc degree in Economics from the University of Calabar, Nigeria, a Cambridge Certificate in Advanced Program on Rethinking Development Economics in Africa, and an Executive Certificate in Public Policy from Harvard University.

Expressing his gratitude for the appointment, Dr. Ogunleye said, “I am truly humbled, honoured, and pleased by the confidence reposed in me by President Akinwumi A. Adesina for this appointment. I am deeply fascinated and appreciate his consistent penchant for excellence and recognition of talent. I use this opportunity to renew my commitment to the Bank, its leadership, and regional member countries in deepening my support for strengthening institutional capacities in all forms in regional member countries.”

Dr. Akinwumi A. Adesina, President of the African Development Bank Group, commented: “I am pleased to appoint Dr. Eric Kehinde Ogunleye as Director of the African Development Institute. Eric is a focused and strategic leader with first-class expertise in key areas of institutional capacity development support to regional member countries. I am confident that he will continue to leverage his vast experience and global partnership across all spheres of capacity development for delivery at scale for our regional member countries.”

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

Contact:
Kwasi Kpodo
Communication and External Relations 
media@afdb.org

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