Senegal

African operations contribute 50% to UBA’s earnings – CEO

admin — Sun, 04 Jun 2023 12:00:01 +0000

African operations contribute 50% to UBA’s earnings – CEO

/sites/default/files/imported_articles_images/node__12806.jpg

admin Sun, 06/04/2023 - 12:00

Friday, May 26, 2023

Original Publisher

Business Archives | Premium Times Nigeria

Original Article

African operations contribute 50% to UBA’s earnings – CEO

The United Bank for Africa (UBA) Plc on Thursday announced that all its African subsidiaries are now on firm footing as they have been contributing maximally to the group’s profit margin.

The bank said its African operations, specifically, have contributed close to 50 per cent of the group’s earnings, leveraging on digital offerings and products across the board to gain large market shares across the different regions of operations in Africa.

The Executive Director/Chief Executive Officer of UBA Africa, Abiola Bawuah, disclosed this while addressing journalists from across Africa during a hybrid media parley on Thursday.

She also highlighted the impact of devaluation and double digit inflation in Nigeria and a number of other African countries where the bank operates, adding that the subsidiaries have been performing well, contributing significantly to the growth and development of trade, infrastructure and finance on the continent.

“As of last month, none of our African subsidiaries is making a loss. They have all been turning in profits, this is a testament to the fact that they have navigated successfully and have all found their footing.

“And this extends to each and every one of them, even the ones in war-torn countries. Of course, we are aware that there is always room for improvement, but for now, we are glad that our 19 subsidiaries are out of the red zone,” Mrs Bawuah said.

Infrastructure Financing

In the area of infrastructure financing, she noted that the bank has been bullish in financing projects across Africa, which according to her is based on the conviction that the continent needs to bridge the infrastructural gap necessary for economic growth.

“UBA has proven expertise and capacity in key sectors of economies across Africa, especially in oil and gas, infrastructure finance, agriculture and commodity/export, and these have positioned it as a preferred partner for structured solutions to key governments and corporates operating in/into Africa,” she said.

She noted that in the last few years, the bank has invested heavily and supported key governments of various African countries with over $1 billion in infrastructural development, especially in roads, hospitals, health, power and other critical sectors.

READ ALSO: Reps summon NNPC subsidiaries over auditor general report

According to her, the bank has contributed massively in promoting trade in Africa and has partnered with the African Continental Free Trade Area (AfCFTA).

“At UBA, we believe that our customers should be able to trade conveniently among themselves, and so we have been partnering with them in this area.

“We have made it easy for our customers across countries to trade easily within themselves, without having to bother about all the hassles that have to do with forex,” she said.

Earlier in the year, Mrs Bawuah, a Ghanaian national, was appointed as the first female CEO of UBA Africa.

Her appointment, according to the bank, further demonstrates UBA’s commitment to diversity. The UBA Group Board now includes eight female Directors.

Before her appointment, Mrs Bawuah was Regional CEO, West Africa, supervising the Group’s operations in nine subsidiaries, including Benin, Burkina Faso, Côte d’Ivoire, Ghana, Guinea, Liberia, Mali, Senegal, and Sierra Leone.

Africa

Business

EU Supports Sierra Leone School Green Club in Poetry and Arts Competition

admin — Sun, 19 Jun 2022 14:50:01 +0000

EU Supports Sierra Leone School Green Club in Poetry and Arts Competition admin Sun, 06/19/2022 - 14:50

Friday, June 3, 2022

Original Publisher

Local – Sierra Leone Concord Times

Original Article

EU Supports Sierra Leone School Green Club in Poetry and Arts Competition

The Delegation of the European Union to Sierra Leone in collaboration with the Sierra Leone School Green Club (SLSGC) will on Monday 6th June 2022, organise a youth climate poetry and arts competition for Senior Secondary Schools, to raise awareness on the impact of climate change and environmental degradation in Sierra Leone, as part of celebrations marking World Environment Day 2022.

The presentation of poems and artwork produced by the students will take place at the Freetown City Council Auditorium during which the winning entries will be announced and prizes presented. Ten Senior Secondary schools in Freetown will take part in the competition, which will be judged by a panel of accomplished Sierra Leonean artists.

Fighting climate change and promoting environmental sustainability is one of the priorities of the European Union. In Sierra Leone, many of the natural ecosystems are losing their ability to provide the livelihood services required by the population, hence the urgent need for halting and reversing environmental degradation in all the key ecosystems (forest, coastal, maritime) in the country.

For this reason, the European Union (EU) is supporting Sierra Leone School Green Club to highlight the importance of everyone actively contributing to the protection of the environment and to raise awareness on the consequences of environmental degradation and climate change on the population, as the schoolchildren who will participate in the competition are doing. This demonstrates that youth have a critical role to play in the climate discourse by not only raising their voices but also actively engaging in awareness raising to foster the policy changes required to mitigate climate change and develop climate resilience.

“EU strongly believes that the future of our planet is in young people’s hands – and many are taking action to tackle the impacts of climate change and environmental challenges. Young people are finding their voice in demanding more climate action from decision-makers to protect their future,” says Ambassador Manuel Müller, Head of EU Delegation to Sierra Leone.

The EU will continue to work with the Government and people of Sierra Leone to tackle the climate, biodiversity, environment and pollution challenges, with a strong focus on nature protection and restoration, in line with the European Green Deal, which is one of the main pillars of EU partnership with Sierra Leone, as reflected in the Multi Annual Indicative Programme (MIP) for cooperation between the European Union and Sierra Leone for the period 2021/2027.

The EU is currently supporting different environmental and biodiversity initiatives from national and regional programmes, targeting more than 80% of all protected areas of Sierra Leone in the following geographical areas:

– Kambui Hills National Park;

– Outamba-Kilimi National Park;

– Management of Mangrove Forests (coastal landscapes from Senegal to Benin);

– Conservation of the Gola Forest Landscape (Sierra Leone and Liberia);

– Revision of National Determined Contribution (NDC);

– Blue carbon project in the mangrove forest of the Sherbro River.

The EU is also involved in a wide range of projects promoting green and sustainable agriculture, associated with fair trade and organic certification. The Arts and Poetry competition, which has as part of its objectives, creating artwork that will convey strong messages about climate change and its negative impact on the environment and the people, will be an occasion to showcase once again the EU’s commitment to fight climate change and promote environmental sustainability in Sierra Leone and across the world.

Africa

News

WHO: Covid-19 deaths in Africa to fall by nearly 94% in 2022

admin — Sun, 19 Jun 2022 14:40:01 +0000

WHO: Covid-19 deaths in Africa to fall by nearly 94% in 2022 admin Sun, 06/19/2022 - 14:40

Friday, June 3, 2022

Original Publisher

Local – Sierra Leone Concord Times

Original Article

WHO: Covid-19 deaths in Africa to fall by nearly 94% in 2022

Deaths from the COVID-19 pandemic in the African Region are expected to decline by almost 94% in 2022 compared to 2021 which was the deadliest year of the pandemic, according to a new analysis by the World Health Organization (WHO).

This drop comes as the number of cases is expected to fall by just over 25% this year.

The analysis, published this week in the scientific journal The Lancet Global Health, shows that while the Region officially declared 113,102 deaths in 2021, around one in three deaths was not taken into account and the true number of deaths would be of 350,000. The analysis predicts about 23,000 deaths by the end of 2022 if current variants and transmission dynamics do not change. However, a 200% more lethal variant would increase the death toll to over 70,000.

Dr Moeti spoke today at a virtual press conference. She was accompanied by Dr Ifedayo Adetifa, Director General of the Center for Disease Control of Nigeria, and Dr Alioune Badara Ly, Director of the Health Emergency Operations Center of the Ministry of Health and Social Action of Senegal.

“Last year, we lost an average of 970 people a day. It is a very heavy toll,” said Dr Matshidiso Moeti, WHO Regional Director for Africa.

“Our latest analysis indicates that the estimated number of deaths in the African Region will drop to around 60 per day in 2022. The low number of deaths expected this year is a great achievement for the Region and a testament to the efforts of countries and partners. However, there is still work to be done. Every time we slacken our efforts, COVID-19 resurfaces. The threat of new variants remains real and we must be prepared to face this ever-present danger. »

A significant number of cases have gone unreported. According to the findings of the study, only one in 71 cases of COVID-19 is recorded in the Region and 166.2 million infections are projected in 2022 compared to an estimated 227.5 million in 2021.

The gap between the number of cases and deaths in 2022 is due to the increase in vaccination, the improvement of the response to the pandemic and the natural immunity due to previous infections which, without preventing reinfections, protect against severe forms of illness and death.

In 2021, the African Region experienced a particularly deadly pandemic: analysis estimates that COVID-19 was the seventh leading cause of death, just behind malaria, while in 2020 the virus was the 22nd leading cause of death in the region. The significant increase in the number of deaths in 2021 was due to the Delta variant, which is more infectious and causes a more severe form of the disease.

“We learned a lot of lessons about how to stay ahead of the virus,” said Dr Moeti. “Now is the time to refine our response and identify the populations most at risk of COVID-19. Countries must step up their efforts to mount a targeted response that provides the most vulnerable people with the health services they need, including COVID-19 vaccines and effective treatments. »

As the pandemic persists, it is crucial to strengthen health services as a whole, including preventive measures, treatment and vaccination of vulnerable populations. Targeted surveillance will also be essential to monitor hospitalizations, the burden of comorbidities and the emergence of new variants.

The burden of death from COVID-19 is unevenly distributed in the African Region. High- and upper-middle-income countries and those in the Southern African Development Community have mortality rates about twice as high as low- and lower-middle-income countries in other economic regions of Africa. .

The analysis shows that the variation in the number of deaths is due to biological and physical factors, mainly comorbidities such as hypertension, diabetes, chronic obstructive pulmonary disease, HIV and obesity, which increase the severity and the mortality risk in patients with COVID-19. The prevalence of these comorbidities has increased in countries with higher death tolls.

The discrepancy between cases and deaths is evident in the latest wave that lasted six weeks in southern Africa, where the average of reported deaths remained at nearly 200 per week against more than 44,000 new weekly cases on average. In the past two weeks, the number of new cases has fallen after four consecutive weeks of increases across Africa, suggesting that the latest wave has peaked.

Africa

News

Nation Striving to Strengthen Economic Tie with West African Countries

admin — Sun, 19 Jun 2022 09:30:01 +0000

Nation Striving to Strengthen Economic Tie with West African Countries

/sites/default/files/imported_articles_images/node__1318.png

admin Sun, 06/19/2022 - 09:30

Friday, June 17, 2022

Original Publisher

Politics – Ethiopian News Agency

Original Article

Nation Striving to Strengthen Economic Tie with West African Countries

June 17, 2022 (ENA) Ethiopia will work to further strengthen its economic ties with West African countries, according to Ministry of Foreign Affairs.

West African Countries Director at the Ministry, Elias Melaku said Ethiopia, being a country with huge impact on the geopolitics of the Horn, will strive to cooperate in strengthening economic integration with the countries in the region.

The Ethio-Djibouti railway and the Ethio-Kenya road are among the efforts worth mentioning in this regard, he added.

Furthermore, Elias pointed out that the country is working to foster political and economic ties with other countries with the aim of building a strong economy.

Prime Minister Abiy Ahmed’s recent visit to West African countries demonstrates Ethiopia’s desire to strengthen ties.

According to the director, Ethiopia will next establish economic ties with Senegal, Côte d’Ivoire, Togo and other countries to build a strong continent.

He further noted that Ethiopian Airlines flight to West African countries will have significant role in bolstering relations with the countries.

Africa

Politics

As Nigeria Grapples with Blackouts, W’Bank Says $100bn Needed to Solve Erratic Power Supply

admin — Sun, 19 Jun 2022 04:40:01 +0000

As Nigeria Grapples with Blackouts, W’Bank Says $100bn Needed to Solve Erratic Power Supply

/sites/default/files/imported_articles_images/node__12354.jpg

admin Sun, 06/19/2022 - 04:40

Thursday, June 16, 2022

Original Publisher

THISDAYLIVE

Original Article

As Nigeria Grapples with Blackouts, W’Bank Says $100bn Needed to Solve Erratic …

•NERC, Discos, Gencos, TCN seal deal on compulsory supply of 5000mw of power from July 1

Emmanuel Addeh in Abuja and Peter Uzoho in Lagos

As Nigerians continue to contend with erratic power supply, the World Bank has said the country would need about $100 billion in the next 10 years to tackle the challenge which has defied all efforts by administrations since 1999.

However, as part of efforts to address the challenge in the power sector, the Nigerian Electricity Regulatory Commission (NERC) yesterday said effective from July 1, 2022, there would be remarkable improvement in the nation’s power sector as market participants have committed in contracts to ensure the generation, transmission and distribution of 5000 megawatts (mw) of electricity in the country.

Commenting on the $100 billion needed by the country over the next 10 years, World Bank’s Regional Director for Infrastructure, Africa West and East of the global bank, Ashish Khanna, who spoke at a programme organised by The Electricity Hub, an organisation which provides insights on the sector, stated that a large chunk of the investment was expected to come from the private sector.

He added that Nigeria has the highest number of people without electricity worldwide, which has led to about four per cent loss of Gross Domestic Product (GDP).

Khanna said the issues of subsidy, gas-to-power as well as energy access would have to be sorted out before a headway can be achieved in the sector.

On a comparative basis, he noted that Ghana already has 85 per cent electricity access while Senegal was on its way to achieving 100 per cent access by 2025, stressing that Nigeria has all it takes to move from less than 50 per cent access to universal energy provision.

“Our estimation is that Nigeria will need at least $100 billion in the next 10 years, and it will be very difficult for government or the world Bank to plug that hole.

“And the private sector will do a lot of funding and will look out for whether the sector is financially viable. But they will ask ‘if I set up a plant, will they pay for it’? Is the policy and regulatory environment for the sector certain?” he said.

According to him, if the government gets the distribution side of the industry right, the private sector would be willing to come in. However, he added that Nigerians must begin to see improvement in supply, which is important for their buy-in.

He further revealed that the World Bank’s engagement in Nigeria is still largest by the organisation anywhere in the world, adding that the country remains an important development partner.

In his comments, the Minister of Power, Mr. Abubakar Aliyu, argued that the sector was now receiving more attention especially on infrastructure from generation, to transmission and distribution as well as the interfaces with gas producers.

He admitted that the sector hadn’t had enough focus in the past leading to decay, but said President Muhammadu Buhari was determined to upgrade the infrastructure because the country cannot move forward without it.

Aliyu said the Siemens project was on course, stressing that it is meant to take generation to 25,000 megawatts by 2025. He assured that between September to December, a number of infrastructure will be arriving from abroad.

He disclosed that the national grid remains unstable and wouldn’t take the other sources of planned energy, saying that therefore off-grid electricity was being planned in silos.

The minister further stated that the federal government was planning 14 projects which will give the country 1,000 megawatts with 10 state governors already collaborating for an additional 100 mw each to hit 2,000mw off-grid.

Declaring that Nigeria was also looking at newer sources of power like hydrogen, Aliyu explained that the current focus on solar is in line with the 30:30:30 vision to ensure that by year 3030, 30 per cent of Nigeria’s total power generation will be based on renewable sources.

He said the industry was undergoing reform, which he said will take time to manifest, insisting that comparing Nigeria with other countries like Senegal was fundamentally flawed because of size and other differences.

According to him, the Right of Way (RoW) issue had been a big challenge, taking years to resolve and halting some projects , which eventually will undergo variation because of delays.

“We want to raise our base-load to a level where we can later integrate these other energy sources,” he said, adding that the federal government was discussing with 14 solar developers to execute projects off-grid.

According to him, Nigeria’s biggest hydropower plants, Kainji and Jebba, could barely produce 130MW of power, despite having a combined installed capacity of around 1,300MW.

Also speaking, Country Director, World Bank, Shubham Chauduri, explained that as a development agency, the World Bank was committed to helping the government lift 100 million Nigerians out of poverty.

“So in the last two years, between 2020 and 2022, our board has approved $8.5 billion financing for Nigeria,” he said.

Beyond financing, he noted that officials of the bank also exchange ideas on how to get these things done, adding that the areas of power, human capital, domestic revenue mobilisation, among others remain very critical.

He noted that Nigeria needed to bring the missing pieces in the industry together, including the technical side, accountability , financing and regulatory clarity.

On top of the existing support , he stated that there’s another $1.5 billion for which approval has been given , plus the energy transition plan which could take another $2.5 billion,.

Africa

News

Afcon 2021: Senegal beat nine-man Cape Verde 2-0 to qualify to last-8

admin — Wed, 23 Feb 2022 08:10:01 +0000

Afcon 2021: Senegal beat nine-man Cape Verde 2-0 to qualify to last-8

/sites/default/files/imported_articles_images/node__1219.png

admin Wed, 02/23/2022 - 08:10

Thursday, January 27, 2022

Original Publisher

Foroyaa Newspaper

Original Article

Afcon 2021: Senegal beat nine-man Cape Verde 2-0 to qualify to last-8

By Momodou Jarju

Senegal has qualified to the next stage of the Africa Cup of Nations (Afcon) after beating nine-man Cape Verde 2-0 on Tuesday at the Bafoussam Stadium, Cameroon.

The Teranga Lions had to wait until their opponents were down to nine men when two of their players were shown red cards—midfielder Patrick Andrade in the 21 minutes and goalkeeper Vozinha in the 57 minutes.

Liverpool and Senegal forward Sadio Mane opened the scoreline in 63 minutes as he curled the ball into the right corner of the net from a resulting corner. Senegal’s second goal was scored by Bamba Dieng in the 92nd minute of the game.

Africa

News

Redemption for Senegal: African Champions

admin — Tue, 22 Feb 2022 03:50:01 +0000

Redemption for Senegal: African Champions

/sites/default/files/imported_articles_images/node__11384.jpg

admin Tue, 02/22/2022 - 03:50

Friday, February 11, 2022

Original Publisher

Searchlight

Original Article

Redemption for Senegal: African Champions

It took a lot of waiting, “after 60 years” in the words of star player, Sadio Mane, and much frustration, failing at the last hurdle on two previous occasions, but at last the West African nation of Senegal has been crowned as African football champions.

The Senegalese footballers, after a hesitant start to the 2022 AFCON (African Cup of Nations) finals, won the coveted trophy last Sunday by first outplaying and then defeating seven-time AFCON champions Egypt on penalties. It was also redemption time for Senegal’s captain and star player Mane as well as coach Aliou Cisse.

Mane had failed to convert a penalty after just two minutes and though outstanding in the match, could not find the back of the net. He however redeemed himself by scoring the winning penalty bringing relief also to his coach. Cisse had himself missed a penalty as Senegal lost the 2002 finals to Cameroon, and to add to the gratification, Sunday’s final was played in Cameroon.

Senegal thus justified its ranking as the leading African footballing nation in FIFA’s rankings. It is ranked at No.20, eight places ahead of Morocco. But it will have little time for celebrations. Next month, Senegal will again have to meet Egypt over two legs for the right to be one of Africa’s five teams for the World Cup Finals in Quatar.

Caribbean

News

Outgoing AU Chairperson Urges for Strong Solidarity to Overcome Challenges of COVID-19 in Africa

admin — Mon, 21 Feb 2022 14:40:01 +0000

Outgoing AU Chairperson Urges for Strong Solidarity to Overcome Challenges of COVID-19 in Africa

/sites/default/files/imported_articles_images/node__11193.jpg

admin Mon, 02/21/2022 - 14:40

Saturday, February 5, 2022

Original Publisher

Social – Ethiopian News Agency

Original Article

Outgoing AU Chairperson Urges for Strong Solidarity to Overcome Challenges of C…

February 5/2022/ENA/ The outgoing Chairperson of the African Union, DRC President Felix Tshisekedi stressed the need to step up effort to strengthen solidarity among African countries to overcome the COVID-19 outbreak and its impact on the economy.

While opening the 35th AU heads of state meeting in Addis Ababa today the outgoing Chairperson of the African Union, Felix Tshisekedi said the COVID plague made impossible the leaders to meet in person.

The holding of 35th AU heads of leaders’ Summit in person after COVID pandemic is a glimmer of hope, he said.

However, now we need to step up our effort and strengthen our solidarity to overcome once and for all the COVID-19 outbreak and economic problems.

We also need to insure economic recovery of our countries to let our people enjoy better future, he added.

The heads of state and government of the African Union have elected today President Macky Sall of Senegal as the new Chairperson of the African Union for the year 2022.

Africa

President Kenyatta Urges African Leaders to Maximize Efforts to Eliminate Malaria

admin — Mon, 21 Feb 2022 14:30:01 +0000

President Kenyatta Urges African Leaders to Maximize Efforts to Eliminate Malaria

/sites/default/files/imported_articles_images/node__11191.jpg

admin Mon, 02/21/2022 - 14:30

Sunday, February 6, 2022

Original Publisher

Social – Ethiopian News Agency

Original Article

President Kenyatta Urges African Leaders to Maximize Efforts to Eliminate Malar…

Addis Ababa February 6/2022/ENA/ The President of Kenya, Uhuru Kenyatta urged African leaders to maximize their efforts to eliminate Malaria by 2030 in the continent.

President Kenyatta, who is also chair of the African Leaders Malaria Alliance (ALMA), made the remark today during the launch of the 2021 Malaria Progress Report on Africa in Addis Ababa on the margins of the ongoing 35th African Union Summit.

According the report malaria remains a significant threat to the health and socio-economic development of Africa.

The report stated that the burden of malaria in the continent is more significant than previously showing a 19 percent increase of deaths.

Some 2.1 million additional malaria deaths have been registered in Africa since 2000, it indicated.

The COVID-19 pandemic has also been compounding the challenges of malaria in the continent, the report added noting that the pandemic alone contributed to 49, 000 additional malaria deaths in 2020 across the continent.

The report further stated that the continent is not on the right track to achieve its ambitious goal of eliminating malaria by 2030.

According to the report, only 15 member states of the African Union including Ethiopia achieved significant progress towards the 2030 targets.

Among AU Members Ethiopia, Mauritania, Cape Verde, Gambia and Ghana were able to reduce malaria incidence by at least 40 percent. While Estwatini, Equatorial Guinea, Rwanda, Senegal and Togo reduced the incidence by 25 to 40 percent.

Two countries, Ethiopia and South Africa reduced malaria mortality by 40 percent; Niger, Sierra Leone and Togo also reduced the mortality by 25 to 40 percent.

While, Cape Verde and Sao Tome & Principe have been registered zero death of Malaria since 2018, the report revealed.

During the occasion President Kenyatta called African leaders to be the forefront globally and nationally to achieve goal of eliminating malaria by 2030, noting that ending malaria is attainable if the African Heads of State and Government take decisive actions.

Kenyatta further pointed out the need to advocate for the replenishment of the Global Fund in 2022 and mobilize new coalition of malaria champions at home and abroad.

Founded in 2009, the African Leaders Malaria Alliance (ALMA) is a ground-breaking coalition of African Heads of State and Government working across country and regional borders to achieve a malaria-free Africa by2030. All African Union countries are members of ALMA.

Africa

Redemption for Senegal: African Champions

admin — Sun, 20 Feb 2022 16:20:01 +0000

Redemption for Senegal: African Champions

/sites/default/files/imported_articles_images/node__10894.jpg

admin Sun, 02/20/2022 - 16:20

Friday, February 11, 2022

Original Publisher

Searchlight

Original Article

Redemption for Senegal: African Champions

Caribbean

News