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Devastating coronavirus disease: AfDB to rescue women businesses
| The African Development Bank (AfDB) says it is mobilising $5 billion through its Affirmative Finance Action for Women to support women businesses in Africa in view of the outbreak of the novel coronavirus disease (COVID-19) pandemic. The President of the AfDB, Dr Akinwumi Adesina, who disclosed this at the Virtual 2020 International Forum on African Leadership, said the move was to help revive the businesses of women. He noted that the coronavirus pandemic had collapsed many businesses owned by women in Africa. The programme organised by the African Leadership Magazine in Malawi was on the theme, “Rethinking Global Partnerships and Africa’s Economic Resurgence.” “We must build back by ensuring that women are strongly supported, as majority of them have lost incomes, due to their greater dependence on informal markets and sectors such as tourism, hospitality and trade, all of which have been devastated by the lockdowns,” he said. Dr Adesina said the bank would continue to raise resources to support women across Africa. He said the world had become more fragile to the coronavirus disease, saying “all are affected — developed and developing countries. There’s no coronavirus for developed countries and coronavirus for developing countries.” Dr Akinwumi said the pandemic had laid bare the divide in the labour market. He said those with skills were able to keep their jobs, while low skilled workers, especially those employed in the informal sector, lost jobs worsened by the lockdowns. “It’s estimated that up to 30 million jobs will be lost in Africa by the end of the year,” Dr Akinwumi said. He said Africa must build back by focusing on the youth, many of whom had no jobs prior to the pandemic. “That’s why the African Development Bank will support the launch of the Youth Entrepreneurship Investment Banks to create a viable financial ecosystem to unleash the entrepreneurship and businesses of young people,” Dr Akinwumi stressed. The AfDB President said Africa must build back by focusing sharply on food and nutritional security. “For many, the risk of hunger is higher than coronavirus. Without food, medicines or vaccines don’t work. There is vaccination against coronavirus, but there is no vaccination against hunger,” Dr Akinwumi said. He said the AfDB had provided over $384 million for countries to address immediate food and nutrition issues, including providing access to improved seeds, farm inputs, strategic food reserves and opening up of regional trade corridors to facilitate trade in food. ###### Dr Adesina Pix/samba/08-12-2020 Caption: Dr Adesina |
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Many SOEs have been used as mere instruments for personal wealth accumulation –Pres.Mahama
President John Dramani Mahama has expressed concern over the misuse of State-Owned Enterprises (SOEs) for personal financial gain by individuals in leadership positions.
Speaking during a meeting with Chief Executives of specified entities under the State Interest and Governance Authority (SIGA) on Thursday, March 13, the President directly attributed the dire state of SOEs to their leadership, accusing chief executives, management teams, and governing boards of prioritising personal enrichment over organisational efficiency.
He pointed to bloated budgets, unjustified allowances, and unnecessary expenditures as factors draining public funds while SOEs continue to rely on government bailouts.
“Many SOEs have been used as mere instruments for personal wealth accumulation by appointees. The chief executives, management, and boards of these enterprises are responsible for this situation. Some SOEs have become perennial loss-makers, draining public funds with bloated budgets, unjustified allowances, and unnecessary expenditures while relying on government bailouts as if entitled to them. Many of these entities are at their lowest point in the entire history of the Fourth Republic,” he said.
President Mahama further noted that many SOEs have been plagued by inefficiencies, corruption, and mismanagement, leading to consistent financial losses. He cited the 2023 State Ownership Report by the State Interests and Governance Authority (SIGA), which highlighted systemic inefficiencies and wasteful expenditures within these entities.
He therefore reaffirmed his commitment to reforming under-performing SOEs and ensuring they serve national interests.
He warned that loss-making SOEs will no longer be tolerated and will either be merged, privatised, or closed.
“I will assess you based on your performance. If you do not align with the pace of the reset agenda, you may be asked to step aside. If that adds to the horror movie, so be it,” he added.
Source: Myjoyonline.com
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Prophet Courage Heavens set to launch ‘Predestination’ book on March 23
Prophet Courage A. Heavens is set to launch the much-awaited book titled ‘Predestination’ on Sunday, March 23, 2025 at 5:00PM.
The launch, which is expected to impact lives, will take place at Crossgates Ministries, Flattop, off N1 Highway, opposite Angel Hauz.
The book is aimed at addressing the way people struggle to understand how free will and destiny align.
It is also aimed at providing clarity on God’s sovereignty and one’s place in His divine plan.
The various chapters of the book address various issues through scriptures and personal stories.
Committed to impacting society, part of the proceeds from the book will go into Courage Heavens Education Legacy (CHEL), an educational foundation transforming lives.
CHEL is dedicated to providing financial support and mentorship to brilliant but needy students, ensuring they have access to quality education and opportunities for a better future.
Prophet Courage Heavens is a prolific writer and previously authored Eli Eli Lama Sabachthani, a powerful book that encourages unwavering faith in times of trials.
In addition, he has written seven more prophetic and life-changing books that are yet to be published.
He is dedicated to raising the next generation for impactful ministry. As the leader of Crossgates Ministries, he nurtures believers in faith and purpose.
