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5 African Presidents, others meet to discuss Africa’s post-COVID economy at AEC – Organisers

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Presidents from five African countries are set to converge on Sal Island, Cape Verde, for the African Economic Conference, 2021, organisers said on Wednesday.

The presidents to be attending the high-level economic meeting include:  President Nana Akufo-Addo of Ghana; President José Maria Neves of the Republic of Cape Verde and President Felix-Antoine Tshilombo of the Democratic Republic of the Congo.

Others are President Paul Kagamé of the Republic of Rwanda and President Macky Sall of the Republic of Senegal.

The 2021 event which has as its theme: “Financing Africa’s post-COVID-19 development”, will also feature more than 100 other speakers from African governments, private sector, and leading academics.

Scheduled to hold from Dec. 2 to Dec. 4, the annual event is organised by the United Nations Development Program (UNDP), the African Development Bank Group (AfDB) and the United Nations Economic Commission for Africa (UNECA).

The focus of the meeting for 2021 would be to develop new ways to finance Africa’s post-Covid-19 recovery and accelerate its development.

The UNDP, AfDB and UNECA said for three days, decisionmakers will also reimagine development financing, discuss the reform of Africa’s financial systems to meet development challenges and assess whether Africa is on the verge of a new debt crisis.

“The COVID-19 crisis has increased Africa’s development financing challenges by constraining public finances, which has led to increasing debt and dwindling foreign direct investment.

“Across the continent, the pandemic has left more than 30 million people in extreme poverty and living on less than 1.90 dollars a day.

“Still, access to international capital markets, a growing debt financing source for many African countries, has declined as investors’ perception of the risks increases.

“Capital flight from Africa, estimated at over 90 billion dollars since January 2020, and investor risk aversion have caused volatile market movements.

Similarly, organisers said, tightening global financing conditions make it more expensive for governments to secure the financing they need to recover from the pandemic and refinance maturing debt.

It is therefore on the heels of the above listed premises that organisers are gathering policy makers and industry experts to converge on Cape Verde to chart a possible way forward out of the economic quagmire.

The UNDP, AfDB and UNECA argue that it had become pertinent to have such as discuss as populations across Africa are on the brink of extreme poverty, with African countries announcing stimulus packages to stem the tide.

Conference organisers added that while the packages are lifesaving, there was also an urgent need for significant additional gross financing in 2022.

The organisers added that for the conference, papers had been submitted by prominent researchers who have proffered innovative ideas on mobilizing domestic resources in the age of the digital revolution; enhancing Africa’s position in the international financial system; and reviewing the role of public development banks.

“These papers are also expected to guide the discussion of sustainable finance solutions, regional integration and the role of the global financial safety net; policy options for managing capital flow volatility; financial regulatory reforms and the role of climate risks,” they said. (NAN)

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Tinubu Receives Ramaphosa, Seeks Stronger Ties Between Nigeria, South Africa

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Tinubu and Ramaphosa
Tinubu and Ramaphosa
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President Bola Tinubu on Thursday received his South African counterpart Cyril Ramaphosa as both leaders held a bilateral talks following the latter’s swearing-in ceremony.

The meeting was hosted by the Nigerian president in Johannesburg, South Africa.

In a statement after the meeting, Tinubu’s spokesman Ajuri Ngelale quoted his principal as saying, “I really enjoyed your speech at the ceremony. I was delighted listening to you. We have lots of issues in common, and we need to work more closely together. It was a good celebration”.

The South African president also thanked Tinubu for attending the inauguration.

“Thank you so much for coming for the inauguration. I was very happy to see my brother at the ceremony,” he said.

Ramaphosa was sworn in on Wednesday after a coalition agreement between the African National Congress (ANC) and other parties.

Tinubu was among African leaders who attended Ramaphosa’s swearing-in. A video of the South African president purportedly snubbing Tinubu at the event had gone viral.

But the Nigerian presidency in the wake of the development, said the video was taken out of context.

The Senior Special Assistant to Tinubu on Digital Communications, Strategy, and New Media O’tega Ogra on his X handle said, “For the record: 1. That first row at today’s inauguration was reserved for South African kings/royalty. 2. The South African President wasn’t expected to start greeting dignitaries at the time of the video you shared and he was respectfully recalled to the podium by the inauguration compere (see video below). 3. Immediately after President Ramaphosa finished the anthem, he went ahead to greet the visiting presidents who were all seated in the second row (similar to the way visiting presidents were seated in the third row during Nigeria’s own inauguration on May 29, 2023…).”

 

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Iranian President, Ebrahim Raisi is dead

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Late Iranian president Ebrahim Raisi
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Iranian president Ebrahim Raisi has died after his helicopter crashed amid heavy fog in northern Iran, state media reported. Raisi was 63.

Rescuers on Monday found the chopper that was carrying the Iranian president, as well as the country’s foreign minister Hossein Amirabdollahian and other senior officials, after it crashed in the mountainous northwest reaches of Iran.

The crash comes as the Middle East remains unsettled by the Israel-Hamas war, during which Raisi, under Supreme Leader Ayatollah Ali Khamenei, launched an unprecedented drone-and-missile attack on Israel just last month.

Under Raisi, Iran enriched uranium closer than ever to weapons-grade levels, further escalating tensions with the West as Tehran also supplied bomb-carrying drones to Russia for its war in Ukraine and continued arming proxy groups in the Mideast such as Yemen’s Houthi rebels and Lebanon’s Hezbollah.

Raisi was a prominent figure in Iranian politics, known for his alignment with conservative and hardline factions. He had been serving as president for nearly three years and was widely expected to run for re-election next year.

Born in Mashhad, a significant religious center for Shia Muslims in northeastern Iran, Raisi’s journey into politics was deeply rooted in his religious education.

He studied at the renowned seminary in Qom, under the guidance of prominent scholars, including Ayatollah Ali Khamenei, the current supreme leader of Iran.

His black turban, a symbol that he was a sayyid, or a descendant of the Prophet Muhammad, held special significance among Twelver Shia Muslims, further cementing his religious and political stature.

Raisi’s career as a prosecutor began in various jurisdictions before he moved to Tehran in 1985. There, he became a part of a controversial committee of judges responsible for the execution of political prisoners, a role that drew significant criticism from human rights organizations.

Raisi’s untimely death leaves a significant void in Iran’s political landscape. As the nation mourns, questions about his potential successor and the future direction of Iranian politics loom large.

 

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Nigeria’s Senate President Akpabio seeks IPU’s voice in ending conflict in Gaza

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President of the Senate, Godswill Akpabio
President of the Senate, Godswill Akpabio
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The President of Nigeria’s Senate, Godswill Akpabio, has called on the International Parliamentary Union (IPU) to lend a strong voice to the restoration of lasting peace in war-torn Gaza.

Akpabio made the call while contributing to discussions at the ongoing 148th Session of the International Parliamentary Union Assembly in Geneva, Switzerland.

He said it is time for nations to rise above sentiments and invoke the spirit of humanity, by doing all they can to bring sustainable peace to the region.

Some of the resolutions, according to the Chairman of Nigeria’s National Assembly, should include access to humanitarian aid, the restoration of normal life in Gaza, and meetings on a permanent truce.

His words: ” Madam President, this is a lone voice from Nigeria. We tried our best in Angola, and we failed to lend a collective voice to what is happening in Gaza. Today, the world is very expectant.

“We must drop ego. It has nothing to do with which country brings the proposal. The basic tenets of humanity demand that we leave here with a resolution for the rest of the world, to show that we have human feelings in us.

“The issues are very clear. If you notice the proposal for 12 blocs; they attempted to even marry the proposals from South Africa. Yes! South Africa has a right to be emotional, but we have children who are dying even as we are talking now. We have people who do not have water to drink, even as we are talking now. We have people who are going to suffer infections from gunshots.

“We have to show the world that we are human beings. The cessation of hostilities must be a part of our resolutions. Access to humanitarian aid must be a part of our resolutions.

‘At the same time, the release of hostages and even those who are prisoners of war, because if both sides take steps in releasing the hostages, releasing the prisoners of war, it means that both sides have agreed that the international community can go to the next stage, which is negotiation for sustainable peace.

“If they cannot agree, I would urge that, from here, we have a three-man drafting committee to come up with those resolutions which we must make before we leave here.

‘We can no longer allow a child to die tonight without lending our voice. It doesn’t matter which side. We are all parents. If we come here to look for ego and then try to be emotional, it’s not affecting them.

“There’s nothing affecting Denmark; there’s nothing affecting South Africa. The people affected are over there and nobody will agree to the lone resolution from Israel. It must be all-encompassing so that we stand up from here as human beings. That would be my plea.

“Let them go aside, meet and remove those vexatious items. In the course of their discussions, we can have amendments. We can add items that we should add, but we must discuss the Gaza issue in this 148th IPU Assembly. That is my position.”

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