There is a need to continue campaigns for Africa leaders to address bottlenecks and encourage the population to get vaccinated as Africa is experiencing low daily vaccination, a pan African initiative stresses.
On Friday September 16, 2022 international NGOs in partnership with African Union Commission held an event at Radisson Blue hotel Addis Ababa to build momentum around and enhance youth ownership of the Bingwa Initiative and discuss the broader economic crises.
Though the number of new cases of Covid-19 has drastically dropped across the continent, the virus still has significant risk to people’s lives. As of the end of August 2022, only 28 percent of the African population received the first dose of Covid-19 vaccine and about 22 percent are fully vaccinated while the global rate is 62 percent. From the total 623.6 million vaccine doses Africa CDC has received only 68 percent have been utilized across the continent.
The event aimed to raise awareness about the importance of getting vaccinated, increase vaccination coverage in the continent, build momentum and coalition of young people championing the vaccination campaign and also increase the drumbeat of voices of global health leaders CSOs and citizens to have stronger voices in the pandemic response.
As researches suggested that barriers to vaccination uptake include; storage and distribution challenge, pandemic apathy, vaccine hesitancy, lack of awareness or accessibility issues in the rural areas and diminished sense of urgency around vaccination where fatality rate are low
As indicated on the event, in addition to the pandemic, the Russia invasion of Ukraine is adding to the aftershocks of the pandemic as economic growth has slowed down globally while inflation has soared, sparking fears of imminent stagflation.
Motivated by President Cyril Ramaphosa, who called for innovative ways to scale up vaccinations across the continent, an African Union public-private-youth initiative co-led by Africa CDC and the Women, Gender and Youth Directorate through the Youth Division has been conceptualized under the name “AU COVID-19 Vaccination Bingwa Initiative”. The initiative seeks to establish a network of COVID-19 vaccination youth champions across the continent to accelerate the uptake of COVID-19 vaccination in Africa.
The initiative is co-sponsored and jointly implemented by the Africa Centres for Disease Control and Prevention (Africa CDC) and the Youth Division (YD) of the African Union Commission, and seeks to leverage the comparative advantage of two key AU initiatives: Saving Lives and Livelihood (SLL) and 1 Million Next Level initiatives of the African Union Commission.
Participants from AU, INGOs, youth residing in Ethiopia, government authorities, attended the event.
Championing for a vaccinated Africa
NBE awaits gov’t signal on a much anticipated insurance Fund
The National Bank of Ethiopia (NBE) is awaiting the decision of central government to breathe life on the much anticipated Ethiopian Deposit Insurance Fund.
It can be recalled that the Council of Ministers ratified the ‘Establishment and Operation of Ethiopian Deposit Insurance Fund’ regulation which was published in February 2021 in the Negarit Gazette, although it is yet to be established.
The Fund will be a guarantee for depositors at financial institutions, who will be members of the Fund.
According to Solomon Desta, Vice Governor of NBE, central bank has filed its proposal for the government to form the Fund.
“As per the regulation, the government is the right entity to give the green light in establishing the fund,” he told Capital.
He added that it is difficult to say it will be established in the current fiscal year since it is on the hand of the government, “We are waiting for the decision of the government. It may be that the government is waiting for a suitable time or assessing experienced leaders on the sector.”
“We have developed the timeline that needs the assignment of the board of directors who are the responsible persons to give life to the Fund,” Solomon added.
According to the regulation, the board of the Fund shall be composed of seven members; Governor of NBE, Minister of Finance, Vice Governor, Banking Supervision Director and the Microfinance Institutions Supervision Director at NBE who shall be permanent ex-official members of the board. The remaining two members of the Board with knowledge in the area shall be appointed by the government based on recommendations from bankers and microfinance institutions associations.
According to the regulation 482/2021 article 4.2, the Fund shall be accountable to the National Bank.
Article 13 stated that a CEO and Deputy CEO of the Fund shall be appointed by the government as recommended by NBE.
According to the regulation that was ratified 19 months ago, the Fund will be closely working with the central bank in different forms. For instance article 33, which stated about assistance to the Fund from the National Bank, said that the National Bank may assist the Fund, during its establishment and initial stage of operation, in procuring materials and providing resources needed to run the Fund’s business.
For the formation of the Fund on its preamble of the regulation for the ongoing economic development of Ethiopia it is essential to strengthen the country´s financial system by ensuring its safety, soundness and stability; the protection of depositors contributes to the stability of the financial system; it is essential to introduce deposit insurance fund as an additional element of the country´s financial safety net.
It added that it is necessary to establish and operate a Fund to enable payment to the member financial institution’s depositors with insured deposits in case of the insurance event; and it is vitally important to collaborate with the National Bank, member financial institutions and other stakeholders to mitigate risk and contribute to stability of the financial system that the fund is formed of.
According to the regulation, all member financial institutions have to pay the Fund’s account an initial premium to be determined by the Fund within 30 days as of the Fund becomes operational.
The initial premium contributed by member financial institutions shall be considered as initial capital of the Fund, while the government shall contribute 200 million birr to the initial capital of the Fund.
Article 16.5 stated that all member financial institutions that signed membership contract shall pay to the Fund annual premiums of 0.3 percent of their average deposits. Sub article six of the same article added that the Fund may determine by a directive a special initial premium to be paid by a financial institution with poor financial soundness.
The Fund shall also be involved in investment activities with the resource it accumulates on the aim to generate income.
Article 19.3 stated that investment in government securities issued or securities guaranteed by the government; or any other investment mode will be as approved by the Fund.
According to the regulation article 23.1, the total amount of the insurable deposits of a depositor shall be determined by a financial institution by adding up all the insurable deposits of that depositor maintained in the different accounts, including the accrued interest on those deposits up to the date of the occurrence of the insurance event.
Article 23.8 stated that the coverage limit of the Fund shall be set by the board; however, it may not be less than 100,000 birr.
Experts said that besides giving a guarantee for depositors and insuring the security of financial firms whether bank or microfinance institutions, it would be an alternative source of finance for the government when it is in need rather than accessing direct advances from NBE.
Insurers, traffic police hold discussion on curbing accidents
The Association of Ethiopian Insurers hold interactive discussions with the Addis Ababa Police Commission on ways to curb traffic accidents, in addition to strengthening integration between the two parties on information sharing after accidents occur.
With motor vehicle accidents becoming one of the ever increasing public health problem in Ethiopia, discussions on the matter with all actors concerned is proving to be vital.
Insurers often have a motor insurance which is a contract between the insured and the insurance company that protects against financial loss, but as the discussions show, such contracts play a bigger role.
Since insurance and road safety are natural, motor insurance is a necessity but it is often a difficult class of business to manage. Thus the appropriate strategies and options must be emplaced.
The motor insurance industry plays an important role in road safety. Not only do most motor insurance companies assist in the creation of awareness through advertisements and circulars to clients, but they also provide the platform and solution to repair damaged vehicles.
“Insurance is about more than just compensating for loss as it is a highly effective mechanism for assessing, managing and reducing risk. By helping customers face up to and manage risk effectively, insurance is an invaluable part of modern society and the motoring experience,” as indicated on the meeting.
Different participants from both the insurance and police commission attended the fruitful discussion, and agreed to work in partnership.
Pink Lotus organizes recognition, fundraiser for breast cancer
Pink Lotus Ethiopia under the Meron Foundation organizes a recognition and fundraising dinner to support its cause of breast cancer awareness creation, mainly promoting early detection. Held on Thursday, September 15 at Inter luxury Hotel, different guests of the community attended the event.
“It has been 2 and half years since this foundation was established. We believe that early detected breast cancer can be cured, and we have achieved a lot including preparing different campaigns to create awareness on breast cancer including preventive measures, signs and also treatments,” said Meron Kebede founder of Meron foundation, and breast cancer survivor.
“There are different people in different sectors, who support our cause, and this program is to thank those who have been supporting us and at the same time we want to use the platform to raise funds,” said the founder.
Pink Lotus Ethiopia Breast Cancer Support Group is a self-help group who gather to share common problems and experience associated with breast cancer. It is under Meron cancer foundation, working in the area of breast cancer awareness creation, mainly promoting early detection.
“So far, we are reaching more than 10,000 women through awareness training and free screening campaigns with the help of more than 100 medical doctors,” Meron highlights.
In Ethiopia, breast cancer is the leading cause of cancer-morbidity among adult women, accounting for one-third of all cancer cases among women and one in five of all cancer cases.
According to Meron, the impact of the illness has been incited by 70% of affected individuals presenting late in the disease when medical interventions have a slim chance of succeeding.
“It’s just the beginning. We have a long way to go, and it’s our goal to reverse 70 percent of late-stage clinical presentations to 0 percent. And we believe we can do it,” said Meron with conviction.
In a country like Ethiopia, majority of breast cancer in women is presented at an advanced clinical stage, resulting in limited and difficult therapeutic options contributing to the poor survival rate.
Women living in rural areas often seek treatment from traditional healers before seeking help within the formal health system. Patients who have direct access to local and regional hospitals have the fewest number of encounters for treatment elsewhere. In the past two and half years, Pink Lotus has been working in Addis Ababa and its surrounding. “We have plans to go outside of Addis,” said Meron indicating that achieving this goal without the local community is impossible.
“We have come this far because of our local people who have a golden heart to help people. And we still need this support to happen on a continual basis to change the demography of breast cancer in our time,” emphasized Meron.
