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AAAM and Afreximbank sign MoU to drive Automotive Investment in Africa

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The African Export-Import Bank (Afreximbank) and the African Association of Automotive Manufacturers (AAAM) have entered into a Memorandum of Understanding (MoU) for the financing and promotion of the automotive industry in Africa.
Prof. Benedict Oramah, President of Afreximbank and Mike Whitfield, President of AAAM and Managing Director of Nissan Africa, signed the MoU in early February, formalizing the basis for a partnership aimed at boosting regional automotive value chains and financing for the automotive industry while supporting the development of enabling policies, technical assistance, and capacity building initiatives.
Prof. Benedict Oramah, President of Afreximbank said that “the strategic partnership with AAAM will facilitate the implementation of the Bank’s Automotive programme which aims to catalyze the development of the automotive industry in Africa as the continent commences trade under the African Continental Free Trade Area (AfCFTA).”

 

WHO signs grant agreement with Canada on maintaining essential health services in the context of COVID-19

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The World Health Organization and Canada signed an agreement to ensure functional health services in the context of COVID-19 in Ethiopia. Through this agreement, Canada will provide WHO a grant amounting to 9.9 million Canadian dollars to strengthen the primary health care capacity to deliver essential health services, particularly for women, girls and vulnerable populations, while maintaining an effective response to COVID-19 to avoid additional preventable sickness and death among the Ethiopian population.
The WHO Representative to Ethiopia, Dr. Boureima Hama Sambo, thanked Canada for the available funding to support continuity of essential health services. He said, “The grant will not only strengthen the provision of quality, gender-responsive essential health services at primary care level but also boost health system resilience by building the capacity of regional and city health authorities to deal with current and future crises.”
This grant will benefit approximately 6.5 million Ethiopians in need, of which 50% are expected to be women. The remaining population of Ethiopia are indirect beneficiaries, benefiting from the efforts to strengthen both the federal and regional health systems, with a focus on sexual and reproductive health and rights (SRHR) services.

Visa Everywhere initiative launched in Ethiopia

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Visa, the global leader in payments technology, announced the launch of the Visa Everywhere Initiative (VEI) in Ethiopia. VEI is a leading global innovation program for identifying and collaborating with fintechs to produce cutting-edge solutions to digital payment challenges, in addition to enhancing their product propositions and providing visionary payment solutions for Visa’s vast network of partners. This year, the focus is on expansion and accessibility, with Visa offering a one-stop experience to register and learn about upcoming opportunities and competitions.
The fintechs, both startups and later-stage, enrolling for the program will work on themes that address the roadblocks to higher adoption of digital payments in Ethiopia. These range from growing digital payment awareness and usage beyond metros to increasing access to credit or scaling commercial payments.

AfDB debars Global Interjapan Limited for 36 months for fraudulent practices

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The African Development Bank Group, on 16 February 2021, announces the 36-month debarment of Global Interjapan (Kenya) Limited with effect from 24 August 2020. Global Interjapan (Kenya) Limited is a civil engineering company registered in Kenya.
An investigation conducted by the Bank’s Office of Integrity and Anti-Corruption established that Global Interjapan (Kenya) Limited engaged in fraudulent practices during a tender for the Bank-financed Small Scale Irrigation and Value Addition Project in Kenya.
The debarment renders Global Interjapan (Kenya) Limited and its affiliates ineligible to participate in Bank Group-financed projects during the debarment period. Additionally, the debarment qualifies for cross-debarment by other multilateral development banks under the Agreement for Mutual Enforcement of Debarment Decisions, including the Asian Development Bank, the European Bank for Reconstruction and Development, the Inter-American Development Bank and the World Bank Group.
At the expiry of the debarment period, Global Interjapan (Kenya) Limited will only be eligible to participate in Bank Group-financed projects on condition that it implements an integrity compliance program consistent with the Bank’s guidelines.