The ECOWAS Gender Development Centre (EGDC) is organising from 04 to 08 June 2024 in Saly – Portudal in the Republic of Senegal, the 2nd edition of the meeting of the regional coordination committees of the centre’s flagship programmes implemented in the 15 ECOWAS Member States. The aim of the meeting is to share information on the state of implementation of the programmes and to formulate strong recommendations to improve their execution.

Key players and experts working in the fields of education, health and women’s entrepreneurship from the Member States, the ECOWAS Commission and Agencies are meeting to discuss the technical and financial management of the EGDC’s flagship programmes, while defining the roles and responsibilities of each stakeholder. The discussions will focus in particular on: the Medical and Financial Support Programme for women and girls suffering from obstetric fistula in the Member States, the Support Programme for the Promotion of Young Girls in the Specialised Technical and Vocational Training Sector through the provision of Excellence Scholarships, and the Support Programme for Women Working in the Processing of Agricultural, Fishery and Handicraft Products in ECOWAS Member States.

Aware of the role of promoting gender equality and the economic and social empowerment of women and girls on economic growth and sustainable human development in the sub-region, since 2010 the EGDC has set up three programmes covering the priority areas of health, education and women’s entrepreneurship.

In view of the weaknesses observed in implementation at both Member State and ECOWAS level, the EGDC has deemed it useful to organise a coordination meeting of these various committees, extended to the ECOWAS national offices and the ECOWAS Permanent Representations in the countries.  The aim is to discuss in particular the results of the audit report on the scholarship programme and the responses provided, and the technical and financial management arrangements for the various programmes, while defining the roles and responsibilities of each entity, namely the EGDC, the Focal Points, the National Offices and the Permanent Representations.

This meeting in Saly should lead to the establishment of stronger and more appropriate strategies to improve the implementation of the CCDG’s flagship programmes in the Member States.

Participants at the meeting come from the Office of the President of the ECOWAS Commission, the Office of the Vice-President of the ECOWAS Commission, the Human Development and Social Affairs Department of the ECOWAS Commission, the Legal Affairs Directorate of the ECOWAS Commission, technical agencies such as RAAF and ECREEE, and the Commission’s Trade and Transport Directorates.

The meeting will also be attended by members of the Regional Coordinating Committees for the 3 EGDC flagship programmes (Fistula, Scholarships and Transformation), ECOWAS Permanent Representations in the Member States, ECOWAS National Offices, EGDC Gender Focal Points, GIABA, technical and financial partners, experts and the EGDC.

Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).

IMF Staff and Nigerien Authorities have reached an agreement at the staff level on the fourth and fifth reviews of Niger’s economic program under the Extended Credit Facility (ECF) and the first review under the Resilience and Sustainability Facility (RSF); The economic outlook is promising over the near and medium term, with growth projected at 10.6 percent this year, driven by oil exports and the lifting of sanctions. But this positive outlook is subject to downside risks, in particular those linked to the security situation and vulnerabilities to climate shocks; Measures to enhance domestic revenue mobilization are crucial to increase fiscal space for priority social and security spending. In that context, the authorities’ ongoing efforts to simplify the tax system and adopt an oil revenue management strategy aiming at insulating the budget from fluctuations in international oil prices are key reforms.

An International Monetary Fund (IMF) staff team led by Mr. Antonio David held meetings from May 20 to June 1, 2024, on the fourth and fifth reviews of the arrangement with Niger supported by the Extended Credit Facility (ECF) and the first review of the arrangement under the Resilience and Sustainability Facility (RSF).

At the end of the mission, Mr. David issued the following statement:

“The Nigerien authorities and the IMF team reached a staff-level agreement on the fourth and fifth reviews of Niger’s economic program under the Extended Credit Facility and on the first review of the arrangement under the Resilience and Sustainability Facility. The staff-level agreement is subject to IMF Management and Executive Board approval. The Board meeting is expected to take place in July 2024. The ECF reviews’ completion would allow the disbursement of SDR 19.7 million (about US$ 26.1 million, or 15 percent of Niger’s quota) to cover external financing needs. In turn, completion of the first review of the RSF would allow for the disbursement of SDR 34.2 million (about US$ 45.3 million, or 26 percent of Niger’s quota).

“Growth is estimated to have decelerated to 2.4 percent in 2023, mainly because of the effects of sanctions and a relatively unfavorable agriculture season. The economic outlook is promising over the near and medium term, despite the uncertainty over the economic effects of the decision to leave ECOWAS. Real GDP growth is projected at 10.6 percent in 2024 due to the start of oil exports and ensuing spillover effects across the economy, the lifting of sanctions, as well as increased production in the agricultural sector. The last two factors should also help to contain inflationary pressures in 2024. Nevertheless, this positive outlook is subject to downside risks, in particular those linked to the security situation and vulnerabilities to climate shocks.

“The fiscal deficit outturn for 2023, at 5.4 percent of GDP, was marginally higher than programmed in part due to revenue shortfalls. Going forward, the deficit trajectory is calibrated to adhere to the authorities’ commitment to reach the WAEMU regional convergence criterion of 3 percent GDP by 2025. As a result of the sanctions imposed after the military takeover, Niger incurred external and domestic debt service arrears. The Nigerien authorities are pursuing commendable efforts to fully clear these overdue obligations.

“The arrangement under the Extended Credit Facility aims to reinforce macroeconomic stability and lay the foundations for resilient, inclusive, and private sector-led growth. Program performance was mixed. Most quantitative objectives at end-June, end-December 2023, and end-March 2024 were met, despite the difficult context faced by Niger last year. But some structural benchmarks under the program were not met, while others were implemented with delays.

“Measures to enhance domestic revenue mobilization are crucial to increase fiscal space for priority social and security spending. In that context, the authorities’ ongoing efforts to simplify the tax system, promote the digitalization of revenue administration, and adopt an oil revenue management strategy aiming at insulating the budget from fluctuations in international oil prices are key reforms. In addition, boosting the quality and efficiency of government spending is needed to improve the delivery of public services.

“The Nigerien authorities are cognizant that private sector development is vital to expedite and sustain the economic recovery and are pursuing efforts to enhance the investment climate. The authorities have restructured the country’s anti-corruption institutional framework with the creation of the Commission against Economic, Financial and Fiscal Crimes (CoLDEFF). The authorities should continue to make progress on the governance agenda, including by strengthening the Anti-Money Laundering and Combating the Financing of Terrorism framework.

“RSF financing supports efforts to advance reforms and investments to address rising risks and challenges associated with climate change, thereby building resilience and safeguarding livelihoods. The Nigerien authorities made significant progress in implementing reforms aiming at enhancing the management of risks linked to natural disasters (including fiscal risks) as well as promoting renewable energy sources.

“The mission met his Excellency Prime Minister and Minister of the Economy and Finance, Mr. Ali Mahamane Lamine Zeine and Minister of Foreign Affairs, Cooperation, and Nigeriens Abroad, Mr. Bakary Yaou Sangare. The mission also held working sessions with the Deputy Minister of the Economy and Finance, Mr. Moumouni Boubacar Saidou, the National Director of the BCEAO, Mr. Maman Laouali Abdou Rafa, as well as other senior government officials, private sector representatives, and development partners.

“The team would like to thank the authorities for their cooperation, and for the constructive and productive discussions.”

Distributed by APO Group on behalf of International Monetary Fund (IMF).

His Excellency Joseph Nyuma Boakai, Sr., President of the Republic of Liberia, has highly commended Honorable Miatta Fahnbulleh, Chairperson of the 2024 Inaugural Committee and members of the Committee for their selfless service and meticulous planning of the inaugural activities.

The President reiterated his utmost confidence in the integrity of Madam Fahnbulleh, who he considers a national icon.

The Liberian Leader expressed his satisfaction over the Fahnbulleh Committee’s handling the affairs of the inauguration  with remarkable probity and adherence to the financial guidelines in the disbursement of expenditures allocated for the inauguration.

Distributed by APO Group on behalf of Republic of Liberia: Executive Mansion.

President Cyril Ramaphosa has signed into law the Revenue Laws Amendment Bill of 2023, which establishes a “two-pot” system that gives members of retirement funds access to retirement savings without having to resign or cash out entire pension funds.

The amendment law introduces a “two-pot” retirement system to address the concerns related to lack of preservation before retirement and lack of access to retirement funds by households in financial distress. 

This retirement system comprises a savings and retirement component for contributions made after 1 September 2024, while historical retirement benefits will be housed in a vested component. 

Individuals will have access to amounts in the savings component before retirement for times of financial distress, and the amounts in the retirement component are preserved until retirement.

The primary objective of the two-pot retirement system is to provide flexibility for fund members to access their retirement savings during emergencies, without necessitating resignation.

The reform introduced by the legislation strives to strike a balance between long-term security and immediate needs, recognising life’s unpredictability.

It permits fund members to access a portion of their savings during crises, such as those seen during the COVID-19 challenges.

These changes ensure the retirement system remains responsive to diverse financial needs, supporting both long-term financial security and immediate assistance during emergencies.

Traditional retirement systems primarily focus on long-term savings, often lacking the adaptability to address immediate financial crises.

President Ramaphosa said: “While we are continuing the task of growing our economy to create more opportunities for all South Africans and reduce the financial vulnerability affecting many individuals and households, the new retirement system offers protection and dignity to those who need it the most to overcome financial stress.”

Distributed by APO Group on behalf of The Presidency of the Republic of South Africa.