President Macky Sall of Senegal has called on Africa’s development partners to agree to a renegotiation of the terms of the current multilateral system in light of shocks dealt to the global economy by the COVID-19 pandemic and the war between Russia and Ukraine.
President Sall, also Chairperson of the African Union, made the call at the opening of the High-Level Ministerial Dialogue at the 54th Session of the Conference of African Ministers of Finance, Planning and Economic Development (CoM 2022) in Dakar, Senegal. The question at the heart of the dialogue was: “Can the development ambition of billions to trillions be achieved?”.
It was attended by African ministers, dignitaries from the private sector in Africa and other parts of the world, as well as experts from the UN system and other global institutions.
The President said, “No sooner had we begun to recover from the constraints of COVID than the war in Ukraine came. Although the war affects the globe, it has unique consequences for Africa. We are now forced as a continent to speak up and call for changes in the global system. Thankfully, these days, everybody seems to concur that the international system needs restructuring”.
A renegotiation of current multilateral system needed to boost Africa’s recovery and growth
Equity Group, IFC to support climate-smart projects
Equity Group and the International Finance Corporation (IFC) have signed a partnership agreement in support of the sustainable development of Africa through supporting micro, small and medium sized businesses (MSMEs) from all sectors of the economy including climate-smart businesses.
The partnership has seen IFC and its partners including the Dutch Development Bank (FMO), British International Investment (BII) and Symbiotics, ResponsAbIility from Switzerland commit USD 165 million towards Equity’s `Africa Recovery and Resilience Plan’ that will see the Group, through its regional banking subsidiaries, finance at least 5 million MSMEs and 25 million households therefore creating 50 million direct and indirect jobs.
The credit facility of USD 165 million includes USD 50 million from IFC, USD 50 million from British International Investment (BII) and USD 65 million from Symbiotic, Responsibility and FMO, the Dutch entrepreneurial development bank and a long-time shareholder in Equity through Arise Investments.
Donkey named most trafficked animal in the world
Donkeys are declared the most trafficked animal in the world with up to 2 million trafficked for slaughter every year.
The demand for ejiao, a traditional Chinese remedy made using donkey skins, and the collapse of the domestic Chinese donkey population has led to a spike in trafficking as skin traders look for supply at any cost.
Donkeys bound for the skin trade are kept in deeply cruel and inhumane conditions and suffer at every point of their journey, from source to slaughter. Pregnant, young or injured animals are not spared, and donkey populations across the world are being wiped out.
Yeabsira Mersha Tesfaye
Name: Yeabsira Mersha Tesfaye
Education: 2nd Year student at University of Gondar
Company name: Yeab Future
Title: Founder and CEO
Founded in: 2019
What it does: Web consulting& design, Digital marketing
HQ: Addis Ababa
Number of employees: 2
Startup Capital: 5,200 birr
Current capital: 58,000 birr
Reasons for starting the business: To address different issues and provide new tech solutions
Biggest perk of ownership: Changing people’s thoughts into digital realities
Biggest strength: Not giving up
Biggest challenging: Communication and networking
Plan: To launch websites that advances the Tourism, Education and health sector
First career: Website tester
Most interested in meeting: Solomon Kassa and Addis Alemayehu
Most admired person: Jack Ma and Elon Musk
Stress reducer: Coding
Favourite past time: None
Favourite book: The power of Habit, Charles Guhigg
Favourite destination: None
Favourite automobile: None
