Africa Archives - Business Today NG https://businesstodayng.com/category/news/africa/ The Hub of News Reporting Fri, 30 Jan 2026 23:44:08 +0000 en-US hourly 1 https://wordpress.org/?v=6.9.1 Burkina Faso junta dissolves political parties https://businesstodayng.com/burkina-faso-junta-dissolves-political-parties/ Fri, 30 Jan 2026 23:28:31 +0000 https://businesstodayng.com/?p=60769 Burkina  Faso’s military-led government has dissolved all political parties and scrapped the legal framework governing their operations. This is going by a decree approved by the West African nation’s council of ministers on Thursday. The decision by the military rulers who seized power in September 2022 is the latest move to tighten control following the […]

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Burkina  Faso’s military-led government has dissolved all political parties and scrapped the legal framework governing their operations.

This is going by a decree approved by the West African nation’s council of ministers on Thursday.

The decision by the military rulers who seized power in September 2022 is the latest move to tighten control following the suspension of political activities after the coup.

Burkina Faso’s Interior Minister Emile Zerbo said the decision was part of a broader effort to “rebuild the state” after what he said was widespread abuses and dysfunction in the country’s multiparty system.

He said a government review found that the multiplication of political parties had fuelled divisions and weakened social cohesion.

Before the coup, the country had more than 100 registered political parties, with 15 represented in parliament after the 2020 general election.

The decree disbands all political parties and political formations.

A law repealing the statutes and regulating party financing, and the status of the opposition leader, will be sent to the current transitional council, according to minutes of the cabinet meeting.

All the assets of the dissolved parties will be transferred to the state.

The Sahel nation, like neighbours Mali and Niger, has been struggling to contain Islamist insurgencies linked to al Qaeda and Islamic State that have killed thousands and displaced millions over the past decade.

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ECOWAS records 4.6% growth in 2025 amid global economic headwinds https://businesstodayng.com/ecowas-records-4-6-growth-in-2025-amid-global-economic-headwinds/ Fri, 30 Jan 2026 23:19:07 +0000 https://businesstodayng.com/?p=60768 ECOWAS President, Dr Omar Touray, says the bloc recorded 4.6 per cent economic growth in 2025, in spite of global economic challenges, and envisages 5 per cent growth in 2026. Touray disclosed this on Thursday in Abuja during a meeting with development partners, while highlighting the commission’s 2025 Annual Report. He said that ECOWAS outperformed […]

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ECOWAS President, Dr Omar Touray, says the bloc recorded 4.6 per cent economic growth in 2025, in spite of global economic challenges, and envisages 5 per cent growth in 2026.

Touray disclosed this on Thursday in Abuja during a meeting with development partners, while highlighting the commission’s 2025 Annual Report.

He said that ECOWAS outperformed the continental average in 2025 through structural reforms, rising investment in mining and energy, improved regional trade facilitation, and a strong rebound in services, transport and tourism.

“This robust performance is driven by structural reforms, rising investment in mining and energy, improvement in regional trade facilitation and a strong rebound in services, transport and tourism,” he said.

According to him, inflation, though still elevated in some member states, has declined in others due to coordinated monetary policies and improved food supply conditions.

“Our fiscal deficits have narrowed significantly as governments strengthen revenue mobilisation and rationalise public expenditure,” Touray said.

“Our debt-to-GDP ratio has also declined modestly, reflecting strong nominal growth and improved macroeconomic management,” he said.

He noted that the sub-region’s external position remained sound, with a strengthened current account surplus, which is supported by high export earnings from oil, gold and bauxite.

“We are meeting at a time when the global economy is undergoing profound transformation.

“Geopolitical tensions, restructuring of supply chains and the rapid acceleration of digital and green transitions continue to reshape the global economic system,” he said.

He further noted that global growth slowed in 2025 and uncertainty remained high, even as inflation eased slightly, but said Africa had continued to demonstrate resilience.

“Yet in the midst of these global headwinds, Africa continues to demonstrate remarkable resilience.

“Growth is recovering, inflation is declining, and political stability has improved in a number of countries,” the commission’s president said.

Touray said that peace and security remained at the core of the bloc’s mandate, adding that ECOWAS intensified preventive diplomacy, mediation and democratic support across the region in 2025.

“Peace and security remain at the heart of our mandate, because insecurity in parts of the region remains a major concern,” he stressed.

He said that ECOWAS would continue to manage the implications of the withdrawal of its three Sahel State members Burkina Faso, Mali and Niger, while keeping channels open for constructive engagement.

Touray disclosed that the ECOWAS Committee of Chiefs of Defence Staff completed the rotation of the Standby Force and reinforced preparations for both the Standby Force and the 1,650 strong Counterterrorism Brigade.

He said progress was made in combating organised crime and terrorism, with ECOWAS formally taking over the West Africa Police Information System after 12 years under Interpol.

He, however, noted that the reduced cooperation with the Alliance of Sahel States owing to their exit had complicated counterterrorism efforts.

“While attacks declined slightly, fatalities increased due to the rising use of improvised explosive devices,” Touray said.

On governance, Touray said ECOWAS supported several member states, including Côte d’Ivoire, Guinea and Guinea-Bissau, in electoral preparations, transitions and reforms.

He said the bloc recorded steady progress in economic integration, including the launch of the second phase of the pre-movement and migration project and validation of the ECOWAS Visa Online approach.

“Seven of our member states are now implementing the ECOWAS National Biometric Identity Card, and the most recent one is the Federal Republic of Nigeria,” he said.

Touray said ECOWAS’ support for women and youth yielded results, with more than 1,300 small-scale cross-border traders and 50 women-led SMEs benefiting from capacity-building programmes, while digital skills training expanded opportunities for rural women.

According to him, the commission committed about 8 million dollars to humanitarian emergencies and disaster risk reduction, while drug rehabilitation services expanded to 10 centres across the region.

On regional infrastructure and energy, the commission’s president said ECOWAS mobilised over $42 million for regional road network preparatory studies and advanced preparations for the Praia–Dakar–Abidjan Corridor, supported by the African Development Bank.

He reaffirmed ECOWAS’ zero tolerance for unconstitutional changes of government.

“There is now zero tolerance for anti-constitutional behaviour in the region.

“ECOWAS stands for no coups, and we will continue to maintain that position,” he said.

On recent political developments in Guinea-Bissau, he called for a short transition led by an inclusive government with a limited mandate to undertake constitutional and electoral reforms.

Touray also announced that sanctions on the Republic of Guinea had been lifted following satisfactory elections in country.

“This is the first time since my arrival in ECOWAS that I am sitting in front of the Ambassador of Guinea in an ECOWAS meeting.

“Guinea has been welcomed back as a full-fledged member of ECOWAS,” he said.

While expressing satisfaction with developments in the sub-region, Touray said it was gratifying to note that the bloc remained on course, in spite of the formidable challenges it faced in 2025,.

“The progress outlined reflects the resilience, determination and unity of our community.

“The vision of a peaceful, prosperous and fully integrated West Africa remains within reach,” he added.

 

 

 

NAN

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Mali Recovers $1.2b In Arrears From Miners https://businesstodayng.com/mali-recovers-1-2b-in-arrears-from-miners/ Tue, 02 Dec 2025 20:50:14 +0000 https://businesstodayng.com/?p=59059 AGENCY REPORT—Mali’s Economy and Finance Minister, Alousséni Sanou, said the country recovered 761 billion CFA francs ($1.2 billion) in arrears from mining companies following a sweeping audit. He said the recovery marks one of the country’s biggest clawbacks from its extractive sector. The military-led government launched an audit of the country’s mining sector in early […]

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AGENCY REPORT—Mali’s Economy and Finance Minister, Alousséni Sanou, said the country recovered 761 billion CFA francs ($1.2 billion) in arrears from mining companies following a sweeping audit.

He said the recovery marks one of the country’s biggest clawbacks from its extractive sector.

The military-led government launched an audit of the country’s mining sector in early 2023 that uncovered massive shortfalls and paved the way for a new mining code.

The new mining law raised royalties, boosted state stakes in mining companies and scrapped stability clauses.

A recovery commission was set up after an audit by firms Inventus and Mozar flagged financial irregularities and shortfalls for the state estimated at 300 to 600 billion CFA francs.

The overhaul of the industry triggered a two-year dispute with Canadian miner Barrick Mining (ABX.TO), Mali’s top gold producer, before a deal was struck in November.

Sanou, speaking on state television, did not say if the recovered sum included Barrick’s recent 244 billion CFA francs deal.

Other operators, including B2Gold (BTO.TO), Allied Gold (AAUC.TO), Resolute Mining (RSG.AX), Endeavour Mining (EDV.L), and lithium players like Ganfeng (002460.SZ), and Kodal (KOD.L), settled their arrears and migrated to the new regime earlier.

“I am delighted with these results, among which we can mention the recovery of 761 billion CFA out of a target of 400 billion,” Sanou said during a ceremony presenting the audit report to President Assimi Goita.

Sanou added that all mining companies will now operate under the 2023 code, which is expected to lift annual revenues by 586 billion CFA francs on audited firms alone, bringing their total contribution to about 1,022 billion CFA francs each year.

Audit and legal costs amounted to 2.87 billion CFA francs, he said.

Mamou Touré, a member of the renegotiation committee, said the goal was not only to recover funds but also to give the state a sizable stake in mining contracts.

Mali, one of Africa’s top gold producers, relies heavily on mining for export earnings and fiscal revenues.

The scrutiny to tighten oversight has squeezed growth, with industrial gold output falling 32 per cent year-on-year to 26.2 metric tons by end-August.

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Tragedy In Ghana As Six Die During Military Recruitment Stampede https://businesstodayng.com/tragedy-in-ghana-as-six-die-during-military-recruitment-stampede/ Wed, 12 Nov 2025 21:20:50 +0000 https://businesstodayng.com/?p=58001 Ghana Armed Forces has confirmed that no fewer than six people lost their lives on Wednesday after a stampede occurred during a military recruitment exercise at the El-Wak Sports Stadium in Accra, Ghana. The Acting Director-General of the Ghana Armed Forces Public Relations Directorate, Colonel Evelyn Asamoah, who confirmed the development through a statement issue […]

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Ghana Armed Forces has confirmed that no fewer than six people lost their lives on Wednesday after a stampede occurred during a military recruitment exercise at the El-Wak Sports Stadium in Accra, Ghana.

The Acting Director-General of the Ghana Armed Forces Public Relations Directorate, Colonel Evelyn Asamoah, who confirmed the development through a statement issue on the force official x handle on Wednesday, said that the incident resulted in the deaths of six potential recruits, while several others sustained injuries.

Videos circulating on social media showed long queues forming on nearby streets, as applicants reportedly arrived as early as 2am to line up for the recruitment exercise.

According to Asamoah, the stampede occurred early in the morning when a large crowd of applicants breached security protocols and forced their way through the stadium gates ahead of the scheduled screening.

The Ghana Armed Forces deeply regrets to inform the general public of a tragic stampede prior to the commencement of the 2025/2026 recruitment exercise today, Wednesday, 12th November 2025, at the El-Wak Sports Stadium, Accra.

“Preliminary investigations indicate that the stampede was triggered by an unexpected surge of applicants who breached security protocols and rushed into the gates ahead of the scheduled screening at about 0620 hours,” Asamoah said in the statement, just as she also added that investigations were ongoing, while medical teams had been deployed to attend to the injured.

“The unfortunate incident led to the death of six potential recruits and many others injured. The injured are currently receiving emergency medical care at the 37 Military Hospital.

“The Ghana Armed Forces assures the general public that medical teams are working tirelessly to stabilise affected individuals. Meanwhile, arrangements are being made to notify the families of the deceased.

“The Ghana Armed Forces extends its deepest condolences to the families of the deceased and wishes a swift recovery to those injured. Further updates will be communicated,” the PRO added.

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Germany Pledges €49m to ECOWAS for Security, Development https://businesstodayng.com/germany-pledges-e49m-to-ecowas-for-security-development/ Fri, 07 Nov 2025 19:10:02 +0000 https://businesstodayng.com/?p=57755 As part of the renewed partnership with the Economic Community of West African States, the German government on Friday pledged €49 million (₦82 billion) to support the regional body in strengthening peace and security, promoting economic development, and improving health outcomes in West Africa. The funding commitment followed a successful bilateral negotiation on development cooperation […]

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As part of the renewed partnership with the Economic Community of West African States, the German government on Friday pledged €49 million (₦82 billion) to support the regional body in strengthening peace and security, promoting economic development, and improving health outcomes in West Africa.

The funding commitment followed a successful bilateral negotiation on development cooperation held at the ECOWAS Commission headquarters in Abuja on November 4 and 5, 2025.

Germany has been a partner of ECOWAS since 1985 and currently supports bilateral technical and financial cooperation projects worth approximately €494 million.

For the 2025–2026 period, Germany’s new commitment of €49 million includes €32.8 million for financial cooperation projects and €16.2 million for technical cooperation across priority sectors.

Germany continues to provide support through its Federal Ministry of Economic Cooperation and Development and implementing agencies — GIZ, KfW, and PTB.

The German Embassy, which made this disclosure through a statement issued in Abuja on Friday said the high-level meeting brought together representatives from both sides, including the Ambassador of Germany to Nigeria and ECOWAS, Annett Günther, and the Director for Africa at Germany’s Federal Ministry for Economic Cooperation and Development, Christoph Rauh.
The statement said Germany and ECOWAS have reaffirmed their long-standing partnership with a renewed commitment to deepen cooperation in peace, security, governance, health, and sustainable development across the sub-region.

The ECOWAS delegation was led by the organisation’s Vice President, Damtien Tchintchibidja, who welcomed the German team and reaffirmed ECOWAS’ commitment to regional integration and resilience amid political, economic, and security challenges.

According to the statement, discussions during the meeting focused on key areas of cooperation forming the foundation of the German-ECOWAS partnership — including peaceful and inclusive societies, regional economic integration, climate and energy transition, and public health.

The statement added Germany is also supporting ECOWAS initiatives in institutional reform, regional trade, climate-friendly energy solutions, and pandemic prevention and response.

“Both sides reaffirmed their joint resolve to address regional challenges such as political transitions, economic pressures, and institutional reforms through dialogue, technical assistance, and inclusive engagement with citizens, ” the statement said

According to the statement, the negotiations concluded with a joint affirmation of commitment to ECOWAS Vision 2050 and Germany’s Africa Strategy, emphasising shared priorities for a prosperous and integrated West Africa and African-led solutions for peace and stability.

Tchintchibidja, speaking during the meeting, commended Germany for its consistency and long-standing support to ECOWAS.

“Following the last negotiations in September 2023 in Berlin and subsequent consultations in 2024 in Abuja, we are gathered here to take stock of our achievements and define priorities for the next two years. Through equitable partnerships, we are working towards deeper integration and enhanced peace and security, with the ultimate goal of building an inclusive, resilient, and prosperous region.”

Günther, in her remarks, reiterated Germany’s enduring support for West Africa’s stability and growth, describing ECOWAS as a “trusted partner” bound by shared values of peace, democracy, and inclusive development.

“Our cooperation is not only about financial support or projects but also about empowering institutions, strengthening democracy, and improving the lives of people across the region,” she said.

Also speaking, Rauh highlighted that the cooperation between Germany and ECOWAS is guided by principles of peace, regional integration, and inclusivity.
Over the decades, the partnership has contributed to regional peacebuilding, governance reforms, climate resilience, trade facilitation, pandemic control, and institutional capacity development within ECOWAS member states.

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‎“Buy Africa, it’s not inferior”: Ogbonna, Mene, Zubairu Chart Path for Developing Continental Trade https://businesstodayng.com/buy-africa-its-not-inferior-ogbonna-mene-zubairu-chart-path-for-developing-continental-trade/ Wed, 14 May 2025 20:22:03 +0000 https://businesstodayng.com/?p=49670 ‎PRESS RELEASE--The Africa CEO Forum, leaders from across the continent gathered to discuss the critical role of private sector-led growth in the development of African trade and market integration under the topic “Fast-tracking African Integration: The Private Sector Imperative”. The session, which was one of the highlights of the 2-day event in Abidjan, saw Roosevelt […]

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PRESS RELEASE--The Africa CEO Forum, leaders from across the continent gathered to discuss the critical role of private sector-led growth in the development of African trade and market integration under the topic “Fast-tracking African Integration: The Private Sector Imperative”. The session, which was one of the highlights of the 2-day event in Abidjan, saw Roosevelt Ogbonna, Managing Director/Chief Executive Officer of Access Bank, join Wamkele Mene, Secretary General of the AfCFTA, and Samaila Zubairu, President & CEO of Africa Finance Corporation (AFC), in a powerful conversation focused on the opportunities and challenges for Africa in the face of shifting global trade dynamics.

‎The panellists were united in their belief that Africa’s transformation hinges on the development of regional value chains, the scaling of intra-African trade, and the need to build both financial and infrastructural capacities that will enable economic integration. In his remarks, Ogbonna underscored the potential for the continent to reframe its narrative and urged African nations to embrace their strengths.

‎He stated, “Years ago, if you told someone something was made in China or Taiwan, it was often seen as inferior. Fast forward 30, 40 years, and now ‘Made in China’ is a symbol of quality, and ‘Made in Taiwan’ commands respect globally. The difference? These countries built a strong domestic market that allowed them to scale, build proficiency, and innovate. Africa is no different. We have everything we need, from abundant raw materials and vast natural resources, to a youthful population and fertile land. There is no reason why Africa has not yet transformed itself into the powerhouse we know it can be. Africa has what it takes to win, and my charge remains the same as I gave during our inaugural Africa Trade Conference in South Africa: Buy Africa, it’s not inferior!”

‎Mene and Zubairu echoed Ogbonna’s sentiments, with Mene highlighting the tangible steps taken to drive integration, such as the introduction of the e-Tariff Book and the AfCFTA Adjustment Fund. Zubairu emphasized the critical need for synergy between public and private investment to address Africa’s infrastructure gaps and finance its development priorities.
‎The discussion also focused on the barriers preventing the scaling of intra-African trade, notably the lack of adequate logistics and transport infrastructure. The Pan-African Payments and Settlement System (PAPSS) was highlighted as a potential game-changer in unlocking new cross-border trade opportunities by facilitating smoother payments and transactions.

‎Ogbonna reinforced the importance of private sector involvement in regional trade, particularly for micro, small, and medium-sized enterprises (MSMEs). “Africa’s MSMEs are the backbone of its economy,” he said, “yet they face a trade finance gap of around $120 billion. Financial institutions must innovate to close this gap and provide the liquidity these businesses need to grow and scale.”

‎As Africa continues to explore new avenues for trade and investment, Ogbonna’s message resonated with the audience: the time is now for Africans to believe in Africa, invest in Africa, and transform the continent into the economic powerhouse it is destined to be.

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Olukoyede To LGC: “Be Accountable, You Have No Immunity From Investigation” https://businesstodayng.com/olukoyede-to-lgc-be-accountable-you-have-no-immunity-from-investigation/ Thu, 20 Feb 2025 07:45:05 +0000 https://businesstodayng.com/?p=47578 The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Oluoyede has charged local government Chairmen across the country to take the issue of accountability seriously as they do not have immunity from investigation and prosecution for fraud. He gave the charge in Gombe, Gombe state on Wednesday, February 19, 2025 while speaking […]

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The Executive Chairman of the Economic and Financial Crimes Commission, EFCC, Mr. Ola Oluoyede has charged local government Chairmen across the country to take the issue of accountability seriously as they do not have immunity from investigation and prosecution for fraud.

He gave the charge in Gombe, Gombe state on Wednesday, February 19, 2025 while speaking at the Gombe State Local Government Summit.
He pointedly told the local council Chairs to be prudent in the management of huge resources at their disposal stressing that “Local government chairmen do not have immunity and we are not going to wait until you finish your tenure to come after you”.
The EFCC’s boss decried the stagnation, poverty and deprivation rampant in rural areas across the country in spite of enormous resources that have been deployed to those places over the years.
“The impact of these resources are not felt by the people living in these areas. Councils instead of becoming catalysts of growth, have become caricatures existing only in name”, he said.
To ensure prudent management of resources and accountable stewardship, he recommended to the Chairmen the need to establish a compliance unit to assist them in monitoring the use of resources and the delivery of projects.
He informed them that the Commission has established a Fraud Risk Assessment and Control ,FRAC, Department, adding that officers of the Department will be visiting local government  councils in Gombe state to monitor the use of the expected enhanced receipts from the Federation account.
“EFCC will be paying you visits occasionally to monitor how you are using the funds. We will come in the evening. Sometimes you may even be seeing us in your dreams,” he said The EFCC boss commended the Gombe State Governor Alhaji Muhammad Inuwa for his shared prosperity vision with council leaderships. “If most governors are like you, I will have less work to do.”
In his own contribution, the Chairman of ICPC Musa Adamu Aliyu expressed dismay that only seven out of  the 774 local government councils in Nigeria have websites, which makes it difficult to monitor their expenditures.
In his opening remarks, Governor Inuwa said the Summit was designed to improve the capacity of the Local Government administration in the state to meet the expectation of the people in the light of the new autonomy granted the council.
“For autonomy to be beneficial and useful, the councils must have capacity and discipline to utilize their resources for the good of the people.”
He noted that Gombe State was not caught unaware  by the Supreme Court ruling as it had already granted financial autonomy to the 11 councils in the state.

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AfDB, Partners Plan To Make Abidjan-Lagos Corridor Highway A Potent Economic And Industrial Hub https://businesstodayng.com/afdb-partners-plan-to-make-abidjan-lagos-corridor-highway-a-potent-economic-and-industrial-hub/ Wed, 27 Nov 2024 13:19:19 +0000 https://businesstodayng.com/?p=46108 The Abidjan-Lagos corridor highway will link the cities of five major West African countries by 2030, and is set to become a powerful economic and industrial hub courtesy of the Spatial Development Initiative promoted by the African Development Bank (www.AfDB.org). This 1,028-kilometre transnational coastal motorway will connect Côte d’Ivoire to Nigeria, while crossing through Ghana, […]

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The Abidjan-Lagos corridor highway will link the cities of five major West African countries by 2030, and is set to become a powerful economic and industrial hub courtesy of the Spatial Development Initiative promoted by the African Development Bank (www.AfDB.org).

This 1,028-kilometre transnational coastal motorway will connect Côte d’Ivoire to Nigeria, while crossing through Ghana, Togo and Benin. Work is due to commence in 2026 and is earmarked for completion in 2030, the African Development Bank revealed at an online workshop held on Thursday 22 November with all the partners associated with the project.

Under the African Development Bank’s leadership, feasibility studies, financing options for the motorway and institutional arrangements for getting the Abidjan-Lagos Corridor Management Authority up-and-running have already been overseen.

The Director of the Bank’s Infrastructure and Urban Development Department Mike Salawou said the transport corridor needs to become an economic corridor:

“This economic corridor approach also naturally overlaps with major urban development. It will support the growth of major economic hubs and improve links between large urban centres, secondary cities and rural areas within the five countries. The Bank has launched the Spatial Development Initiative to enable transformative industrialisation right along the highway, to stimulate the growth of major economic clusters,”

In a report presented by the consultancy firm responsible for devising the Spatial Development Initiative, 206 specific interventions were identified that could initially require primarily private sector funding investments of around $6.8 billion. The spheres targeted for transformative investment include energy, renewable energy, manufacturing, transport and logistics, agriculture and agri-industry, ICT, tourism, mining and special economic zones.

The Director of Transport at the Economic Community of West African States (ECOWAS) Commission Chris Appoiah added, “Our ultimate objective is to ensure that the corridor and the economic activities to be developed along the corridor contribute to the ECOWAS regional integration agenda. It’s an integrated project which, once implemented, will help us to achieve the economic union we desire in our area.”

The toll-free motorway will boast four to six lanes, with up to eight lanes in Lagos. After a drive of 82 km through Nigeria, the road will cover 520 km in Ghana, 144 km in Cote d’Ivoire, 90 km in Togo, and 127 km in Benin.  There are also plans to build 63 interchanges. Construction of the road is expected to generate up to 70,000 direct and indirect jobs. Most of the work will be carried out in the form of public-private partnerships,

The African Investment Forum, the largest investment platform in Africa championed by the African Development Bank and eight other partners, has been providing significant impetus to the project. At the time of its “boardrooms” in 2021, $15.6 billion in potential investment had been pledged by various private and institutional actors for this emblematic project, which is one of ECOWAS’ key priorities.

Lydie Ehouman, the Chief Transport Economist and Project Manager at the African Development Bank presented the preparatory studies for the project. She said it would link an urban population which is expected to reach 173 million people by 2050 and connect the most densly populated metropolitian areas in West Africa the infrastructure will connect the most economically dynamic cities and the most densely populated metropolitan areas in West Africa from Abidjan, Takoradi and Accra, to Lomé, Cotonou, Porto-Novo and Lagos:

“The Abidjan-Lagos highway will connect up with the West African transport corridors (airport, road and rail) and will link the inland regions of Mali, Burkina Faso and Niger to all eight ports in the corridor, as well as to the Abidjan-Dakar-Praia corridor,” concluded Ehouman, who also served as moderator during the session.

The Bank was also represented at the gathering by Marco Yamaguchi, Head of Division in the Bank’s Infrastructure and Urban Development Department.

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China Pledges Deeper Cooperation With Africa In 4 Key Areas https://businesstodayng.com/china-pledges-deeper-cooperation-with-africa-in-4-key-areas/ Tue, 03 Sep 2024 00:39:22 +0000 https://businesstodayng.com/?p=44441 The Chinese Government has pledged to remain committed to further deepening its cooperation with Africa in four key areas: strategic alignment, connectivity, new areas of cooperation, and coordination. This was disclosed by government officials at a joint news conference on Belt and Road cooperation between China and Africa, ahead of the 2024 summit of the […]

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The Chinese Government has pledged to remain committed to further deepening its cooperation with Africa in four key areas: strategic alignment, connectivity, new areas of cooperation, and coordination.

This was disclosed by government officials at a joint news conference on Belt and Road cooperation between China and Africa, ahead of the 2024 summit of the Forum on China-Africa Cooperation (FOCAC) on Monday in Beijing, China.

The officials include Ms Xu Jianping, Director-General, Department of Regional Opening-up of National Development and Reform Commission (NDRC), and Mr Wang Heming, Director-General, Bureau of Sub-Saharan African Affairs of International Department, Central Committee of CPC (IDCPC).

Others were Mr Meng Yuying, Director-General, International Taxation Department of the State Taxation Administration (STA), and Mr Li Yonghong, Deputy Director-General, Foreign Environmental Cooperation, Center of the Ministry of Ecology and Environment of China.

They outlined China’s plans to implement existing cooperation agreements and expand cooperation to more African countries.

According to the Chinese Government, China will continue to improve Africa’s infrastructure, promote trade and investment facilitation, and enhance people-to-people exchanges.

“China will also expand cooperation in new areas such as digital economy, green development, and innovation, and establish more cooperation mechanisms with African countries to coordinate and solve problems in cooperation.”

The government highlighted significant achievements in China-Africa cooperation, including strategic alignment, infrastructure connectivity, new areas of cooperation, and improving people’s livelihoods.

“China and Africa have made significant progress in aligning their development strategies, with 52 African countries having established a high-level consensus on the principles, goals, and key areas of cooperation.

“China has participated in the construction of over 10,000 kilometres of railways, 100,000 kilometres of highways, nearly 1,000 bridges, and 100 ports in Africa, improving Africa’s infrastructure and promoting economic development.

“Cooperation has also expanded in new areas such as health, green development, digital economy, and innovation, with various projects implemented to improve people’s livelihoods in Africa.”

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ECOWAS Decries Irregular Youth Migration https://businesstodayng.com/ecowas-decries-irregular-youth-migration/ Wed, 10 Jul 2024 23:16:48 +0000 https://businesstodayng.com/?p=42494 The ECOWAS Parliament has decried the irregular migration of youths from the subregion in search of greener pastures in Europe and other developed countries. ECOWAS Parliament Speaker, Memounatou Ibrahima, stated this during the 2024 First Ordinary Session of the parliament in Abuja on Wednesday. Ibrahima noted that the youths mostly emigrate through irregular means, adding […]

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The ECOWAS Parliament has decried the irregular migration of youths from the subregion in search of greener pastures in Europe and other developed countries.

ECOWAS Parliament Speaker, Memounatou Ibrahima, stated this during the 2024 First Ordinary Session of the parliament in Abuja on Wednesday.

Ibrahima noted that the youths mostly emigrate through irregular means, adding that strategies must be adopted to halt the dangerous trend in the region.

She urged Members of Parliament to propose ways to invest in the skills and capacity of West African youth and explore their potential for the subregion’s benefit.

The the exodus of youths, otherwise called the ‘Japa Syndrome’ in Nigeria, has led to the loss of African skilled youth to Europe and other developed countries.

Ibrahima’s submission was sequel to the presentation at plenary by Teresa Boteli (Policy and Liaison Officer) of the International Organisation for Migration (IOM).

Boteli had spoken about the emigration of African youth through dangerous routes to Europe and North America.

Boteli said that the dangerous journeys has exposed the youths to numerous risks, including human trafficking, exploitation, and death.

She added that an estimated 5,000 migrant deaths were recorded in 2023 alone.

She said that while migrants contribute to cultural exchange and diversity, they also face significant challenges in terms of integration, discrimination, and legal hurdles in their destination countries.

An estimated 300,000 West African migrants often use perilous routes through the Sahara Desert and across the Mediterranean Sea annually, according to the IOM report in 2023.

Contributing to the discussion, the First Deputy Speaker of the ECOWAS Parliament and Nigeria’s Deputy Senate President, Jibrin Barau, said that youth unemployment was responsible for the multifaceted conflicts ravaging the sub-region.

He noted that conflicts around the world, such as the war in Ukraine, had contributed to the crises in West Africa and called for concerted efforts by member states to curb the menace.

Also contributing, Deputy Speaker Nigeria’s House of Representatives, Benjamin Kalu, called for urgent creation jobs to stem the teeming youth irregular migration.

Cape Verde MP, Orlando Diaz, called for a detailed approach to youth migration, warning that if urgent steps were not taken, the situation could degenerate into unimaginable consequences.

Sierra Leone’s MP,  Mabinty Funna, said that creating more employment opportunities in member-states would reduce youth migration overseas.

She added that the issue was a huge challenge that required a comprehensive approach by the body.

She urged member states to address issues such as promoting entrepreneurship, which can create more job opportunities for young people.

“Governments can provide training, access to finance, and mentorship to encourage young people to start their own businesses.

“Investment in education and skills development and providing training programmes that are aligned with market needs can help young people acquire the skills needed to access job opportunities in growing sectors.

“We can diversify our economies beyond traditional sectors like agriculture and mining.

“Investing in sectors such as technology, renewable energy, and manufacturing can create new job opportunities for young people,” Funna said.

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