The African Development Bank Group (www.AfDB.org) has approved a $3 million technical assistance project to boost local content for micro, small, and medium enterprises (MSMEs) in Equatorial Guinea, providing economic diversification to the west-central African country. The grant agreements were signed this week in the city of Malabo between the African Development Bank, the Ministry of Finance, Economy and Planning and the United Nations Development Programme (UNDP).

The grant, from various Bank fund sources such as the Fund for African Private Sector Assistance (FAPA) and the Middle and Middle-Income Country Technical Assistance Fund (MICTAF), plus the UNDP contribution, will improve the business environment, provide unwavering institutional support to enterprise-supporting organizations and significantly enhance direct access by MSMEs to technical assistance and advisory services. Furthermore, it will facilitate access to large buyers of goods and services in different supply chains, amplify regional and global exports, and increase the linkages between MSMEs and financial institutions to create jobs, particularly for women and youth.

The project will be a multisector local content initiative focusing on agriculture, fisheries, transport/logistics, tourism, and ICT. It will emphasize youth-led and women-in-business MSMEs and be implemented by UNDP in partnership with the government of Equatorial Guinea and private sector players. 

“The promotion of local entrepreneurship, the improvement of the capabilities and efficiency of the African MSMEs, the development of supply and value chains, and the increase of regional trade and exports are in line with the Bank’s core strategy and objective of supporting private sector development, particular the SME sector which represents the bulk of Africa’s economic fabric,” noted Aida Ngon, Director of Private Sector Development at the African Development Bank.

Serge N’guessan, African Development Bank Director General for West Africa, stated that SME development is an indispensable component of the private sector strategy. The bank is committed to addressing this issue comprehensively and collaborating with entities such as UNDP and local governments. This partnership aims to create and nurture high-growth MSMEs essential for sustaining economies such as Equatorial Guinea and other regional member countries (RMC) through job creation. 

For her part, Betty Wabunoha, UNDP Resident Representative, noted that the “partnership between UNDP, the African Development Bank Group, and the government of Equatorial Guinea “aims to support the country’s economic diversification and development, particularly focusing on promoting sustainable growth and value chains with high growth potential. The partnership seeks employment opportunities, especially for youth and women, by supporting micro, small, and medium-sized enterprises. This initiative will enhance the capacity of Equatorial Guinea’s institutions to facilitate economic transformation and inclusive development, and it will greatly contribute to accelerating Equatorial Guinea’s structural transformation toward green, inclusive, and resilient growth (http://apo-opa.co/3zMobNe)”.

https://apo-opa.co/3ZFhibe (Joyful young Excited african woman businesswoman using mobile phone at her shop)

Distributed by APO Group on behalf of African Development Bank Group (AfDB).

Contact:
Amba Mpoke-Bigg
Communication and External Relations Department
African Development Bank
email: media@afdb.org

Technical contact:
Mário J. Gomes
Principal Advisory Services Officer
SME Business Development Division
email: m.gomes@afdb.org.

About the African Development Bank Group:
The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

Uganda minister of energy and mineral development Ruth Nankabirwa Ssentamu describes how the East African nation became one of the great new energy frontiers on the continent, as a keynote speaker at the forthcoming AOW Investing in African Energy event (https://AOWEnergy.com).

The address promises to be one of the highlights of the four-day event, with Uganda set to start pumping its first oil next year (http://apo-opa.co/4eJdIkx), after 20 years of prospecting, investing and construction. From not being a recognised energy producer, the country is now in the midst of an oil and gas boom, and poised to become Africa’s next major energy player.

Minister Nankabirwa will deliver her keynote presentation on the upstream oil and gas opportunities that the dynamic East African nation offers for global investors.

With an estimated 6.5 billion barrels of oil in place and 1.4 billion barrels deemed to be technically recoverable, the Republic of Uganda offers undeniable development potential for the international oil and gas sector.

“Our country’s upstream development is well advanced,” says Nankabirwa. “Uganda is now able to offer investors the predictability they need above ground. I look forward to unpacking the wealth of energy opportunities at AOW, and discussing them with potential partners.”

The crown jewel of Uganda’s oil industry is the Kingfisher field, part of an ambitious $10 billion project to develop oil reserves under Lake Albert in the west of the country. Kingfisher, and the neighbouring Tilenga field, are part of a project that also involves constructing a pipeline to transport crude oil to international markets via Tanzania’s Tanga Indian Ocean port.

Besides achieving several milestones on the Kingfisher and Tilenga projects, Uganda has also made rapid regulatory progress, implementing robust new policies and frameworks to ensure a favourable investment climate for international energy companies looking to enter the country.

Uganda’s extensive petroleum resources and encouraging progress in developing them make it an exciting case study for investors, prospective partners and government leaders from other African energy frontiers.

Minister Nankabirwa’s keynote is likely to be one of the main attractions of the AOW event, and will offer insights, as well as a unique chance to gain direct access to Uganda’s energy role players.

Distributed by APO Group on behalf of AOW: Investing in African Energy.

AOW Investing in African Energy is Africa’s leading oil, gas and energy event. Now in its 30th year, it brings together industry leaders to develop policy, share discoveries, secure investment, and shape Africa’s energy future. It runs from October 7 – 11, 2024 at the CTICC 2, Cape Town.

Ecobank (www.Ecobank.com), the leading pan-African financial services group, announced Daba Finance, the Ivorian Fintech, as the Grand Winner of its flasghip Ecobank Fintech Challenge 2024.

Twelve (12) innovative fintech startups competed to impress the esteemed panel of five judges for the US$50,000 prize. The judges, comprised of renowned industry experts, evaluated the finalists based on criteria such as innovation, market potential, scalability and team strength.

After fierce competition, Daba Finance takes home US$50,000 with its solution to make investing accessible to everyone by offering a one-stop investment platform for trading stocks, bonds, and other financial products.

BOUM III JR, CEO of Daba Finance, expressed immense gratitude for the opportunity and the recognition, stating, “Winning this challenge propels our mission to make investing and wealth building opportunities available for all. With Ecobank as our partner, we are accelerating the journey to making our innovation accessible to millions and bringing financial empowerment to the continent.”

The judges also rewarded two additional fintechs whose solutions made a lasting impression. Melanin Kapital from Kenya took second place, winning US$10,000 and Guinean’s fintech YMO secured third place with US$5,000. For the first time, the general public was given the opportunity to vote for their preferred fintech, and MiaPay from Togo won the “Public Choice Award” for this year’s edition.

The 12 finalists were carefully selected from a record 1,550 Fintech Challenge 2024 entrants from 70 countries, demonstrating the competition’s rising prominence over its seven years. This also showcases the impressive innovation and creativity, especially on the African continent.

At the Ceremony, all the finalists were enrolled into the prestigious Ecobank Fintech Fellowship programme, which provides them with valuable exposure to investors and industry leaders, access to Ecobank’s Banking Sandbox to test and develop their innovative solutions, with the possibility of scaling across the Bank’s large pan-African footprint.

This annual event, which is unique in sub-Saharan Africa, is a testament to Ecobank’s commitment to helping African fintechs to develop and grow, and for the Bank to identify potential partnerships with fintechs which can be scaled to bridge the financial inclusion gap and streamline access to payments.

During his remarks, Jeremy Awori, Group CEO of Ecobank stated, “The African continent is a hotbed for fintech innovation globally and is constantly pushing the boundaries to enhance convenience and establish new digitally enabled capabilities. Ecobank’s Fintech Strategy centres on leveraging our borderless pan-African digital platform, to provide cutting edge solutions to fintechs that will benefit millions of africans. I am particularly proud of what we have achieved so far with fintechs through our annual Ecobank Fintech Challenge.”

He added: “I am hugely impressed by the quality of the pitch of our twelve finalists, and I want to congratulate Daba Finance for making it to the top of the podium. I look forward to seeing how our collaboration will help them grow and scale.” 

He ended by expressing his sincere appreciation to the judges, sponsors and partners who include Konfidants, Proparco, Huawei, Asky Airlines, TechCabal, BlueSpace, Afrilabs, Africa Fintech Network, MEST Africa, Naija Startups, Expand in Africa and Founders Africa. He extended special thanks to Asky Airlines who donated round-trip tickets to the winners.

Since its inception in 2017, the Ecobank Fintech Challenge has attracted over 7,000 applications from fintech innovators from 70 countries. This impressive pool of talent has resulted in 72 fintechs being inducted into the Ecobank Fintech Fellowship.

Distributed by APO Group on behalf of Ecobank Transnational Incorporated.

A new Niger government ordinance creating a database of people suspected of terrorism undermines fundamental rights enshrined in national and international law, Human Rights Watch said today. The ordinance sets out overbroad criteria for inclusion in the database, deprives those listed of due process and an adequate redress mechanism, and puts protection of personal data and other privacy rights at risk.

On August 27, 2024, Gen. Abdourahamane Tiani signed Order No. 2024-43, establishing “an automated data processing file containing personal data of people, groups of people or entities involved in acts of terrorism.” On September 6, Justice and Human Rights Minister Alio Dauda told the media that the ordinance relies on “a solid legal framework, both nationally and internationally,” includes provisions of the Nigerien penal code, and reflects United Nations Security Council resolution 1373, the counterterrorism resolution adopted after the September 11, 2001, attacks on the United States.

“Niger’s new counterterrorism order allows people to be labeled suspected terrorists on vague criteria and with no credible evidence,” said Ilaria Allegrozzi, senior Sahel researcher at Human Rights Watch. “The government should suspend the database until grounds for inclusion and other provisions meet international human rights standards.”

Human Rights Watch wrote to the Niger justice and human rights minister on September 12 and Gen. Tiani on September 13 to raise concerns about the ordinance and request responses to specific questions. Neither official has responded.

Under the ordinance, people or entities can also be listed in the database if suspected of “activities that may disrupt public peace and security,” or for “disseminating data or comments likely to disturb public order.” Such vaguely worded criteria facilitate unlawful restrictions on the rights to freedom of expression and association.

A Nigerien lawyer, Moussa Coulibaly, told Human Rights Watch that under this ordinance, “the standards are set so low that unverified sources of information can serve as the basis for putting someone in the database.”

Those included in the database face severe consequences, including being denied the ability to travel nationally and internationally, and finding their assets frozen. They may be stripped of their Nigerien nationality, increasing the risk of statelessness. Niger is a party to the UN Convention on the Reduction of Statelessness, which prohibits depriving someone of their nationality if it would leave them stateless.

In recent years, Niger has faced brutal and abusive Islamist armed groups that have been operating across the Sahel region. These include the Islamic State in the Greater Sahara (ISGS) and the rival Al-Qaeda-linked Group for the Support of Islam and Muslims (Jama’at Nusrat al-Islam wa al-Muslimeen, JNIM), as well as Boko Haram and the Islamic State in West Africa Province in its western and southeastern regions.

These armed groups have concentrated their recruitment efforts on ethnic Fulani by exploiting grievances with the government and other communities. The disproportionate presence of ethnic Fulani in the ranks of Islamist groups has led to the stigmatization of the entire Fulani community. Human Rights Watch has documented that the majority of victims of abusive government counterinsurgency operations in Niger in 2019 and 2020 were Fulani civilians.

Concerns about the misuse of the counterterrorism ordinance are heightened by the military government’s human rights record, Human Rights Watch said. Since coming to power in a coup in July 2023, the junta has cracked down on the political opposition, media, and peaceful dissent. Military authorities have arbitrarily detained former President Mohamed Bazoum and his wife, as well as dozens of officials from the ousted government and people close to the deposed president, failing to respect their rights to due process and a fair trial.

The ordinance does not provide listed individuals or entities with an effective mechanism to contest their inclusion in the list or obtain redress if wrongfully included. It does not require notifying them before they are included in the database, effectively denying them a meaningful opportunity to contest their placement.

Inclusion in the terrorist database will subject individuals to humiliation, fear, and uncertainty, Human Rights Watch said. “The outcome is that people can be on the database for a long time, without any recourse and possibility to remove their names,” said a Nigerien journalist. “This ordinance also jeopardizes freedom of expression.”

The right to effective remedy is enshrined in international human rights treaties ratified by Niger, including the International Covenant on Civil and Political Rights.

Finally, the ordinance raises serious privacy concerns, providing for the collection and processing of personal data in violation of the right to privacy under international human rights law. The ordinance provides few restrictions on the government’s collection and processing of personal data.

The African Commission Principles and Guidelines on Human and Peoples’ Rights while Countering Terrorism in Africa states that measures used to counter terrorism that interfere with privacy, in particular the “collection, access, use, storage, maintenance, examination, disclosure, destruction, and intra- and interstate dissemination and sharing of privacy information, including through the use of databases, must be provided for by law, strictly proportionate with and absolutely necessary for achieving a legitimate goal.”

“The counterterrorism ordinance creates a secretive watch list system that risks diverting attention from genuine threats facing the government,” Allegrozzi said. “Nigerien authorities should recognize that security concerns are best addressed by respecting human rights, not running roughshod over them.”

Distributed by APO Group on behalf of Human Rights Watch (HRW).