The Standing Committee on Finance has called on the South African Reserve Bank (SARB) to seriously look at the issue of the high interest rate which is making life difficult for both the poor and middle-income earners in South Africa.

The Committee Chairperson, Dr Joe Maswanganyi, said that the committee is raising this matter not to instruct the central bank to lower the interest rate, but to consider it an issue that is mostly affecting ordinary people on the ground.

The SARB briefed the committee today on its mandate, structure, governance and shareholding as part of the committee’s capacity-building workshop. Furthermore, the presentation covered national payments, financial surveillance and prudential regulation

The committee has welcomed the SARB presentation and applauded the central bank for ranking 8th on transparency index out of 30 countries globally. To this end, the central bank undertook to continue working hard to improve its transparency index globally.

Some of the measures taken by the SARB to improve its transparency index include speaking directly with local communities at regional level through forums. In 2024, the central bank has conducted ten of such forums in Bloemfontein, Cape Town, Durban, Gqeberha, Kimberly, Mahikeng, Mbombela, Polokwane, Sandton and in Soweto.

Distributed by APO Group on behalf of Republic of South Africa: The Parliament.

The Permanent Secretary in the Ministry of Finance, Planning, and Economic Development, Mr. Ramathan Ggoobi, has called upon ambassadors and heads of missions to play a crucial role in promoting Uganda’s economic growth through innovative branding and marketing strategies. Speaking at the week-long retreat for ambassadors and heads of missions at the Civil Service College in Jinja, under the theme “Strengthening Governance and Performance of the Foreign Service for National Development,” Mr. Ggoobi emphasized the importance of attracting tourists and investors to achieve the country’s 10-fold growth strategy. “Tourism is a low-hanging fruit that should be prioritized by Ambassadors abroad,” Mr. Ggoobi said, adding that the country targets to double the economy every five years in the medium term despite crises. Mr. Ggoobi presented an overview of Uganda’s economic growth, noting that the country’s GDP growth has recovered from various shocks, crises, and false alarms, reaching 6% in FY 2023/24 from 3% in FY 2019/20. He attributed this recovery to good macroeconomic management, favorable weather conditions, and improving global economic conditions. He further noted that growth has been broad-based, with all sectors growing: Services by 6.6%, Industry by 5.8%, and Agriculture by 5.1% in FY 2023/24. Mr. Ggoobi projected that growth is expected to reach 6.4% in the current financial year and at least 7% over the medium term.

Under the 10-fold growth strategy, including oil and gas production, GDP growth is expected to surpass 10% in the initial years, he added. Mr. Ggoobi outlined the new action agenda for achieving 10-fold growth, focusing on anchor areas such as agro-industrial development, tourism development, mineral-based development, oil and gas, and science, technology, ICT, and innovation. He discussed the financing options for achieving 10-fold growth, including tax revenue, total debt, market capitalization, and private sector credit. Mr. Ggoobi urged Ambassadors and heads of missions to work together to promote Uganda’s economic growth and achieve the country’s 10-fold growth strategy. He stressed the need for policy and goal consensus, execution discipline, civic and trade order, natural capital preservation, physical capital development, and human capital skill enhancement. He further noted internal and external risks, including corruption, inequality, climate change, global economic shocks, and resource conflicts, and proposed mitigants such as maintaining inclusive policies, diversification, and deeper regional integration.

Thanking his Finance counterpart for the engagement, Foreign Affairs PS, Vincent Bagiire pointed out that his Ministry’s efforts may not always be visible, but their impact is significant. He cited the Jinja Bridge which was a result of negotiations by Uganda Embassy Tokyo and construction of an airport in Karamoja as an example of a result initiated by the Uganda Embassy in Abu Dhabi. He further mentioned a polytechnic institute built by Sharjah in Uganda as another notable project. The Ambassadors’ Conference was opened on by Gen. Odongo Jeje Abubakhar, Minister of Foreign Affairs, who urged Ugandan Ambassadors and Heads of Missions abroad to align the Ministry’s work with Uganda’s National Development framework, including Vision 2040 and the Third National Development Plan. Gen. Odongo emphasized the need for Uganda’s foreign policy to drive economic growth and regional integration. He highlighted economic and commercial diplomacy as key drivers of Uganda’s development, stressing the need for ambassadors to promote value addition, industrialization, and trade. The conference aims to enhance performance and innovation among missions, facilitate peer-to-peer knowledge sharing, and promote regional and international peace and security.

Distributed by APO Group on behalf of The Republic of Uganda – Ministry of Foreign Affairs.

On Thursday 22 August 2024, the British High Commissioner’s residence was filled with excitement, as the British High Commission Accra, in partnership with the British Council Ghana, hosted a farewell reception to honour the latest cohort of Chevening and Commonwealth Scholars from Ghana.

The event, which gathered scholarship awardees, alumni, and key officials from the High Commission and British Council, was a testament to the enduring partnership between the UK and Ghana in fostering educational excellence and leadership development.

Over the past 40 years, the Commonwealth Scholarship has funded the education of over 2,000 Ghanaians, while Chevening Scholarship has supported more than 400 young people from Ghana, Togo, Benin, and Burkina Faso in the pursuance of world-class education. Many of these individuals have gone on to become pioneers in various sectors, ranging from governance to climate activism.

The reception celebrated and formally recognised the outstanding feat of the individuals selected for the two prestigious scholarship awards. This year, 17 scholars will travel to the UK on the Chevening scholarship to pursue fully funded one-year master’s degrees at UK universities. Additionally, 30 others will study on the Commonwealth Scholarship. These scholars will be attending top UK universities including Cambridge, King’s College London, Brimingham, and Glasgow, where they will pursue master’s degree in fields such as law, public health, education, climate, international security and business.

Opening the reception, Deputy British High Commissioner to Ghana, Keith McMahon remarked,

“It is truly a pleasure to host some of Ghana’s brightest minds before they head on to the UK for one year of higher learning. This event is a constant reminder of the potential that lies in the Ghanaian youth, the transformative power of the UK’s education institutions, and the astounding growth that can be achieved when countries work together. We celebrate the exceptional journey of these scholars and the positive impact they have already had on their communities. We are proud to support them to do more through this scholarship scheme and look forward to them continuing their work upon their return to Ghana”.

Country Director of the British Council in Ghana, Nii Doodoo Dodoo added, “The scholars we are bidding farewell to today reflect Ghana’s rich talent and potential. The British Council is delighted to play a role in their journey, and we look forward to witnessing their successes and the positive impact they will undoubtedly make here in Ghana and beyond.”

The Chevening Scholarship is awarded to individuals with the ambition, drive, and leadership qualities needed to create positive change in their home countries. The application window for the 2025/2026 Chevening Scholarships opened earlier this month and is set to close by 05 November 2024. Approximately 1500 awards are available globally. The British High Commission Accra invites eligible Ghanaians who aspire to further their studies in the UK to apply for this life-changing opportunity.

Here are some testimonials from some Chevening Alumni.

Distributed by APO Group on behalf of British High Commission Accra.

His Excellency President Dr Julius Maada Bio has joined the family, party members and prominent citizens for the Laying Out Ceremony of the late Alhaji Dr Sheik-Umarr Minkalu Jah, former Deputy National Chairman of the Sierra Leone People’s Party (SLPP).

During the ceremony, which took place at the SLPP Headquarters on Wallace Johnson Street in Freetown on Wednesday 28 August 2024, President Bio, who is also the Leader of the party, reflected on the life of the late Dr. Jah, honouring him as a man of great character who had dedicated his life to serving Sierra Leone, the Bo School, and the SLPP with distinction.

Accompanied by the party’s Deputy Leader, Vice President Dr Mohamed Juldeh Jalloh, the President used the occasion to thank the late Dr Jah’s wife for her unwavering care and support and praised him for his contributions to the country.

He also shared a personal memory of his first encounter with Dr. Jah, then a young medical doctor returning from Germany, while he was still in class seven. He recalled how Dr. Jah had earned his respect from that moment and how he had followed his career closely.

President Bio said the late man would later serve as one of his ministers when he was Head of State and emphasised the significant impact he had on the country. “As we say goodbye to him, it is a lesson for us all to know that we will all go to our Maker one day,” President Bio advised and prayed for Allah to grant him Jannat ul Firdaus and continue looking after Dr Jah’s family.

Dr. Sama Banya, in his condolence message, reflected on the pivotal role Dr. Jah played in both the country and the SLPP. He recalled meeting Dr Jah as a bright student with an infectious smile during his time as a teacher at Bo Government Secondary School.

Dr. Banya spoke of the remarkable life Dr Jah led, highlighting his commitment to the Bo School, the SLPP, and Sierra Leone, and concluded his tribute with the prayer, “May his soul rest in peace and the light perpetual shine upon him”.

Mrs. Amie Jah-Rogers, speaking on behalf of the family, expressed gratitude to the SLPP for honouring Dr Jah. She described him as a kind and selfless leader who saw serving Sierra Leone, the SLPP, and the Bo Government Secondary School as a privilege.

She noted that Dr. Jah’s dedication to public service was marked by his commitment, openness, and respect for all, regardless of tribe.

Distributed by APO Group on behalf of State House Sierra Leone.