The African Development Bank played a critical role in supporting millions of people across the continent, affected by the impact of the Covid19 pandemic in 2020. This is according to its latest Annual Development Effectiveness Review.
The pandemic caused fiscal deficits to double and indebtedness to rise sharply, reducing the capacity of African countries to invest in economic recovery. The African Development Bank responded swiftly with a Covid-19 Response Facility that provided $3.6 billion in emergency budget support. The funding went into key areas such as health, social protection, and economic assistance, benefitting 12.3 million vulnerable households across 31 countries.
For instance, in Côte d’Ivoire, Ghana and Senegal the Bank helped to subsidize water and electricity bills for vulnerable households. In Sierra Leone, it supported the training and protection of 11,000 frontline health workers. With the Bank’s support, Ethiopia’s daily Covid19 testing capacity quadrupled. And in Morocco, the Bank helped the country upgrade health infrastructure, allowing for efficient patient care.
Annual Development Effectiveness Report
South Sudan independent power plant celebrates its second anniversary
The Ezra Power plant celebrates its second anniversary on 21 November. The power plant, located in Kondokoro Mangalla County, produces the bulk energy supplied to the Juba Electricity Distribution Company Ltd (JEDCO), the licensed electricity distributor in Juba.
It took the Ezra Construction & Development Group (ECDG), a subsidiary of the Ezra Group, just over two years to get the first phase of the plant running after being awarded the contract in August 2017. Currently, the power plant supplies over 30 000 homes and businesses in Juba.
The Ezra family started doing business in Ethiopia in 1986 and, with hard work, determination and savvy business skills, this small company was transformed into a highly structured incorporated organization in 2003.
The Group started operations in South Sudan in 2004. Today, Ezra Group Holdings, the parent company of five subsidiaries, is seen as a catalyst for change in South Sudan, where they have committed to building a lasting legacy as they transform the country’s landscape.
IATF 2021 ends with commitment to strengthen the AfCFTA
The second Intra-African Trade Fair (IATF 2021) has ended in Durban, KwaZulu-Natal, South Africa, with a collective commitment to ensure that the economic stimulation triggered by the event translates into the continued strengthening of the African Continental Free Trade Area (AfCFTA).
Speaking during the closing ceremony of IATF 2021 at the Durban International Convention Centre, Chief Olusegun Obasanjo, Chairman of the IATF 2021 Advisory Council and former President of the Federal Republic of Nigeria, expressed his gratitude to the KwaZulu-Natal Province for successfully hosting IATF 2021, and fully bringing the vision of the AfCFTA to life in a tangible and measurable way.
“It is no mean feat to have secured seven sitting presidents for the opening ceremony who stayed for hours during the entire programme,” said Chief Obasanjo. “Thank you immensely for all you have done to make sure this event takes place,” he added, promising to meet everyone in Abidjan, Côte d’Ivoire, in 2023.
Kenya, South African Airways sign strategic partnership framework
Kenya’s national carrier, Kenya Airways PLC (KQ), has signed a Strategic Partnership Framework with South African Airways (SAA), a key milestone towards co-starting a Pan African Airline Group by 2023. The partnership framework follows the Memorandum of Cooperation (MoC) that the two airlines signed two months ago to foster the exchange of knowledge, expertise, innovation, digital technologies, and best practice between the two airlines.
The signing of the Strategic Partnership Framework by the two African airlines will see both airlines work together to increase passenger traffic, cargo opportunities, and general trade by taking advantage of strengths in South Africa, Kenya, and Africa. It is expected that the partnership will improve the financial viability of the two airlines. Customers will also benefit from more competitive price offering for both passenger and cargo segment.
The signing of the Strategic Partnership Framework was witnessed by President Uhuru Kenyatta and his South African host, President Cyril Ramaphosa on the second day of President Kenyatta’s three-day State visit to South Africa. The Strategic Partnership Framework was signed by KQ Chairman Michael Joseph and SAA Chairman John Lamola in Johannesburg South Africa.
