The ECOWAS Commissioner for Economic Affairs and Agriculture, Mrs Massandje Toure Litsé, has tasked members of the technical committee responsible for selecting members of the proposed ECOWAS Regional Business Council (EBC) to ensure that the Council is inclusive and reflects the diversity of businesses in the region.

In a message at the opening of a three-day meeting of the committee held in Abuja on Monday 5 August 2024, the Commissioner described the proposed Council as “a crucial body that will shape the region’s economic trajectory”, by “prioritising competitiveness and investment” as drivers of the region’s growth and development.

In her speech, delivered by Private Sector Director Dr Tony Elumelu, the Commissioner said that the African Continental Free Trade Area (AfCFTA), a free trade area for most African countries, was signed in 2018 with headquarters in Ghana, “represents a unique opportunity for our businesses to access new markets, increase trade and attract foreign direct investment”.

To achieve this objective, she stressed the need to mobilise “the collective effort of stakeholders, including micro, small and medium enterprises (MSMEs), which form the backbone of the economies” of member states.

She said that to achieve ECOWAS’ transition to a citizen-Oriented Community, the region has broadened private sector participation, in particular with the establishment of relevant structures mandated to facilitate the operationalisation of the EBC.

The EBC, she added, should be composed of prominent business leaders who can participate fully and represent the business sector at meetings of the Community’s decision-making bodies, with regional business associations playing an important role in this process. “In selecting the members of the EBC, we must ensure that all businesses, regardless of their size or sector, have a seat at the table, without ignoring the MSMEs who must be represented so that their particularities are taken into account by the Council,” she said.

She therefore urged the members of the technical committee to be guided in their selection by certain principles such as representation, inclusiveness, competitiveness and influence so that the EBC helps the Community to achieve its “ultimate goal of a prosperous and inclusive ECOWAS

region where all businesses can prosper and contribute to the growth and development of the Community”.

In his remarks, the Acting Chairman of the Technical Working Group, Mr Gerald Amangwa, emphasised the important role of the private sector, which is the “very heart of the development process” and expressed that the three-day conference will provide members with the opportunity to conclude the outstanding issues in the process in time for the inauguration of the Council by December 2024.

During the three-day meeting, the members of the technical committee will be presented with and discuss the composition, structure and operations of the Council, as well as the milestones and requirements for the launch and operationalisation of the Council, among others.

Distributed by APO Group on behalf of Economic Community of West African States (ECOWAS).

The United Nations World Food Programme (WFP), in collaboration with the Ministry of Education, Arts and Culture (MoEAC) and the Government of the Federative Republic of Brazil recently visited the Stampriet Combined School in the Hardap region of Namibia, to assess the progress made since the launch of the Home-Grown School Feeding Programme (HGSFP) and School-Based Integrated Food Systems Project in 2021.

The Stampriet project, supported by the Government of Namibia and Republic of Brazil, has yielded remarkable outcomes since its establishment. The school now produces approximately 5 000 chicken eggs monthly, a variety of nutritious vegetables and fully funds the salaries of two gardeners from the sale of fresh produce and poultry products. Each week, learners spend time in the vegetable gardens and hen houses thereby broadening their understanding of agriculture, business, and economics, through firsthand learning.

During the visit, Hon. Faustina Caley, Deputy Minister of MoEAC expressed her support for the initiative and commended the progress made so far. “I want to see this successful project scaled up to more schools across the country so they too can reap the same benefits,” she said. Hon. Caley also highlighted that this model of school feeding not only supports education but also generates income for schools and adds value to communities through capacity development and food accessibility.

Local supermarkets and hotels puirchase fresh produce and eggs from the project and in addition to learners enjoying healthy school meals, surplus produce is donated to the community soup kitchen.

H.E. Vivian Loss Sanmartin, Ambassador of the Federative Republic of Brazil to Namibia, expressed her enthusiasm for the project and highlighted “the results are impressive and are proof that much can be done with the right technical support and clear goals.” Ambassador Sanmartin further committed Brazil’s continued support towards achieving food and nutrition security in Namibia.

“Our collective efforts have enabled WFP to transform the lives and futures of these school going children,” said Ericah Shafudah, WFP Deputy Country Director in Namibia. “Beyond receiving a diverse and nutritious meal every day, these children learn about food systems, some parents are employed at the project, others have received horticultural training, and families arrive daily to purchase fresh and healthy vegetables for their households.”

Ambassador Jeroboam Shaanika, the Deputy Executive Director (Multilateral Affairs) at the Ministry of International Relations and Cooperation, expressed gratitude for the collaborative efforts of all parties and recognized the crucial role that school meals play in shaping children’s futures, highlighting their transformative impact on long term development.

The Home-Grown School Feeding Programme in Namibia has significantly impacted the lives of local learners. Currently active in seven regions, it provides healthy meals to 11 000 children across twenty-nine schools, enhancing their education, health, and overall nutrition outcomes.

Distributed by APO Group on behalf of World Food Programme (WFP).

Africa Finance Corporation (AFC) (www.AfricaFC.org), the continent’s leading infrastructure solutions provider, today announced that it has received a new equity investment from Rawbank, one of the Democratic Republic of Congo’s (DRC) leading banking and financial institutions. This equity injection is aligned with AFC’s strategy to mobilize African capital and diversify its capital base and underpins the Corporation’s mission to deliver pragmatic solutions to Africa’s significant infrastructure and industrialization requirements.

For almost two decades, AFC has been committed to driving Africa’s economic transformation and sustainable development, and these milestone equity investments not only strengthen the Corporation’s capital base but broaden its reach and impact across the continent. Rawbank’s equity investment follows the DRC Government’s capital injection into AFC in 2022, reflecting the Corporation’s growing footprint in Central Africa.

AFC has mobilised over US$200 million in investments in DRC across its key sectors of natural resources, power, transport, and heavy industries, holding an investment pipeline of over US$850 million in the near- to-medium term. The Corporation’s most recent transformational investments in-country include the joint development of a 200MW Solar farm alongside Sky Power Global; leading the development of the Lobito Corridor connecting the DRC and Zambia with global markets through Angola; and the joint development of a mass transit in Kinshasa to improve mobility across the DRC with Trans Connexion Congo (TCC).

Mustafa Rawji, CEO of Rawbank commented, “Rawbank’s investment in AFC is a crucial step for our bank and for the Democratic Republic of Congo as a whole. It is an important step for us as our first equity investment in a multilateral financial institution, and we are confident that it will strengthen our bank’s financial capabilities, enabling us to finance large-scale projects that can transform the DRC’s economic landscape. We are proud to be associated with an institution that shares our vision of growth and sustainability.”

“With our shared passion to elevate Africa’s instrumental role as an engine of global growth, I am pleased to welcome Rawbank as our newest equity shareholder,” said Samaila Zubairu, President&CEO of AFC. “It is critical for African institutions to play a catalytic role as agents of transformation on the continent and these equity investments support AFC’s commitment to catalysing economic growth, value accretion, and industrial development in Africa.”

AFC has a diverse equity investor base that includes African Sovereigns, Pension Funds and Insurance firms amongst others, who all play a critical role in mobilizing the capital urgently needed for the continent’s development. Last year, AFC’s member states Côte d’Ivoire, Benin and Botswana all became shareholders alongside equity investments from African institutional investors including Caisse Nationale de Prévoyance Sociale (CNPS), Cameroon’s public pension fund and SBM Capital Market Securities Ltd., a leading investment-grade financial institution in Mauritius. Other shareholders include Egypt, Sierra Leone and Seychelles while the Republic of Turkey, through the Turk Exim Bank, became AFC’s first non-regional shareholder in 2023.

Distributed by APO Group on behalf of Africa Finance Corporation (AFC).

Media Enquiries:
Yewande Thorpe
Communications
Africa Finance Corporation
Mobile : +234 1 279 9654
Email : yewande.thorpe@africafc.org

About Rawbank:
For over 22 years, Rawbank has been at the forefront of economic development in the Democratic Republic of Congo, offering modern financial products and services to over 500,000 clients across a network of 100 branches in 19 provinces. With a presence in key regions including Grand Katanga, Grand Kasaï, the two Kivus, Equateur, and Kongo Central, and a representation office in Brussels, Rawbank operates over 300 ATMs. The bank’s dedication to solidity, profitability, and sustainability has earned it numerous accolades, including the African Bankers Award for the best regional bank in Central Africa in 2022 and 2024, a Moody’s rating of CAA 1, and ISO/IEC certifications.

About AFC:
AFC was established in 2007 to be the catalyst for pragmatic infrastructure and industrial investments across Africa. AFC’s approach combines specialist industry expertise with a focus on financial and technical advisory, project structuring, project development, and risk capital to address Africa’s infrastructure development needs and drive sustainable economic growth.

Seventeen years on, AFC has developed a track record as the partner of choice in Africa for investing and delivering on instrumental, high-quality infrastructure assets that provide essential services in the core infrastructure sectors of power, natural resources, heavy industry, transport, and telecommunications. AFC has 43 member countries and has invested US$13 billion across Africa since inception.

www.AfricaFC.org

The United Nations World Food Programme (WFP) has received a food aid contribution of 11,520 MT of rice from the Republic of Korea to meet the emergency food and nutrition needs of 81,600 Malian refugees and 287,000 school children across Guinea-Bissau, Mauritania, and Sierra Leone.

This contribution is particularly crucial in a context where millions of families are struggling to meet their basic food and nutrition needs due to the compounding effects of the climate crisis, conflicts and insecurity, and the high costs of food and fuel in West Africa which drive food out of reach for vulnerable families. According to the March 2024 Cadre Harmonisé food security analysis, 2.3 million women, men and children are facing acute hunger in Guinea Bissau, Mauritania, and Sierra Leone during the June-August lean season.

“I’m pleased that this year, the rice assistance of the Republic of Korea has doubled, and for the first time, we’re supporting three countries in West Africa with Korean rice” said Yongho Jung, Director at the Ministry of Agriculture, Food and Rural Affairs (MAFRA) of the Republic of Korea.

“The Republic of Korea (ROK) received food assistance from the international community in the past, and now we want to give back that help. I hope that rice, prepared by the ROK Government and people with sincerity, will bring a message of hope to refugees and young students who are facing severe food crises” Yung added.

Across the three countries, school meals represent a critical safety net for vulnerable families and provide a significant incentive for parents to keep their children in school, boosting attentiveness in class and mitigating student dropouts. As schools have attempted to go back to normality following the COVID-19 pandemic, nutritious school meals and take-home rations play a key role in maximizing student retention in schools and improving children’s nutrition.

In Guinea Bissau, where economic and climate-related crises are driving hunger and malnutrition up, WFP will distribute 2,400 mt of rice to 180,000 children in 850 schools for four months, providing essential nutritional support to schoolchildren.

“I would like to express my sincere gratitude to the Government of the Republic of Korea for their generous donation of food to the most vulnerable schoolchildren in Guinea-Bissau”, said Claude Kakule, WFP’s Country Director&Representative in Guinea-Bissau. “This timely contribution – following a period of food shortage in the country – will be crucial in boosting school enrolment and retention rates at the beginning of the next school year.”

In Mauritania,the Korean contribution will be used to complement general food assistance to 81,600 Malian Refugees in the Mbera refugee camp for 11 months. Part of the contribution will be used to provide school meals to 7,700 refugee children and 46,800 children from the host communities for nine months from October 2024 to June 2025.

The rice provided for the refugee response will complement the cash-based response allowing the most vulnerable refugee families to receive a complete and diversified food basket during the lean season period (June-September) when they are often forced to resort to adverse coping strategies to make ends meet.

“This generous contribution from the Republic of Korea is a lifeline for many people hard hit by multiple crises. It will go a long way to significantly support WFP’s efforts to strengthen the food security and nutrition of refugees and vulnerable rural communities in Mauritania affected by economic and climate shocks,” said Patrick Teixeira, WFP’s Deputy Country Director in Mauritania.

At a time when hunger is on the rise in Sierra Leone due to the economic fallout from the Ukraine crisis, alongside broader macroeconomic decline, and the lingering impacts of the COVID-19 pandemic, the Korean donation could not have come at a better time. It complements government efforts to address the food and nutrition needs of 106,700 students in 494 primary schools across the country.

“I would like to extend my heartfelt congratulations and deepest appreciation to the Republic of Korea for their unwavering commitment to humanitarian efforts and their dedication to making a positive difference in the lives of those in need,” said Yvonne Forsen, WFP’s Country Director&Representative in Sierra Leone. “This act of generosity exemplifies the spirit of international cooperation and compassion that lies at the core of the World Food Programme mission.”

Distributed by APO Group on behalf of World Food Programme (WFP).