African governance progress lagging behind needs and expectations of growing population, finds 2018 Ibrahim Index of African Governance
The 2018 Ibrahim Index of African Governance (IIAG), launched by the Mo Ibrahim Foundation, highlights that public governance progress in Africa is lagging behind the needs and expectations of a growing population, composed mainly of young people.
Over the last decade, Overall Governance has on average maintained a moderate upward trajectory, with three out of four of Africa’s citizens (71.6%) living in a country where governance has improved.
African governments have struggled to translate economic growth into improved Sustainable Economic Opportunity for their citizens
Since 2008 the African average score for Sustainable Economic Opportunity has increased by 0.1 point, or 0.2%, despite a continental increase in GDP of nearly 40% over the same period. There has been virtually no progress in creating Sustainable Economic Opportunity, meaning it remains the IIAG’s worst performing and slowest improving category. Defined as the extent to which governments enable their citizens to pursue economic goals and prosper, the almost stagnant Sustainable Economic Opportunity trend strikes a concerning contrast with demographic growth and youth expectations. Africa’s population has increased by 26.0% over the last ten years and 60% of the continent’s 1.25 billion people are now under the age of 25.
Ethiopia, World Bank sign two financing agreements
The Government of Ethiopia and World Bank signed two financing agreements.
Ethiopia’s Minister of Finance, Ahmed Shide and Carrie Turk World Bank Director for Ethiopia, Sudan South Sudan, signed the agreement at a ceremony held at the Ministry of Finance.
According to Ahmed Shide, Minister of Finance, the first agreement, amounting 1.2 billion US dollars, is to finance Ethiopia’s Growth and Competitiveness Development Policy Program.
The second financing agreement, amounting 150 million US dollars, is for skills development which aims to support the transformation of technical and vocational education and training (TVET) in Ethiopia.
The World Bank’s Board of Executive Directors this week approved 1.2 billion US dollars in support and Credit to Ethiopia.
Ethiopian to connect Africa with Russia
Ethiopian Airlines (Ethiopian) announced that it will launch services to Moscow, Russia as of December 1, 2018.
Group CEO of Ethiopian, Tewolde Gebremariam said preparations have been finalized to launch services to Moscow, Russia, the world’s largest country in total area, spanning Eastern Europe and northern Asia.
As of December, Ethiopian will connect Moscow with 59 cities in Africa, with thrice a week flights operated with the ultra-modern 787 Dreamliner.
The launch of the service will also facilitate better trade, investment, and tourism relations between the two regions.
Ethiopian, which currently operates 116 international destinations, is undertaking multi-faceted investments to enhance its global presence, according to a press release sent to FBC.
