Echotitbits – Nigeria News

Category: World

  • Mali: ECOWAS Lifts Post-Coup Sanctions

    Mali: ECOWAS Lifts Post-Coup Sanctions

    The West African regional bloc ECOWAS has lifted sanctions it imposed against Mali over military coup that ousted ex-president Ibrahim Boubacar Keita in August.

    According to a statement on Tuesday, the Economic Community of West African States (ECOWAS) said it was ending the sanctions.

    “Heads of state and government have decided to lift sanctions” after noting positive steps towards a constitutional government” the statement read.

    For many months, agrieived opposition and civil groups campaigned for the removal of Keita, a situation that finally led to a coup by the nations military.

    The bloodless coup in the landlocked nation was not well received by the 15-nation group, fearing that a polarised nation under a military rule might further pose security and instability in the region and so imposed tough sanctions against one of Africa’s poorest countries.

    A coup in 2012 was followed by an uprising in northern Mali which morphed into a bloody Islamist insurgency, claiming thousands of lives and threatening neighbouring Niger and Burkina Faso.

    The ECOWAS sanctions, imposed on August 20, included border closures and a ban on commercial trade and financial flows but not basic necessities, drugs, equipment to fight coronavirus, fuel or electricity.

    Under pressure, Mali’s junta endorsed a “charter” to restore civilian rule within 18 months and appointed a committee which chose 70-year-old retired colonel Bah Ndaw as interim president.

    Despite this, ECOWAS insisted on the publication of the transition roadmap and warned it could not accept junta leader Colonel Assimi Goita, who is interim vice president, as Ndaw’s potential replacement.

    The bloc has now taken into account “notable advances towards constitutional normalisation,” according to a French text of Tuesday’s statement, signed by President Nana Akufo-Addo of Ghana, who currently chairs ECOWAS.

    It also called on “all bilateral and multilateral partners to support Mali.”

    The communique also called for civilian and military officers detained during the coup to be released, and for the junta, which calls itself the National Council for the Salvation of the People (CNSP), to be dissolved.

    The statement was issued a day after Ndaw appointed a government, headed by former foreign minister Moctar Ouane, in which junta members occupy key positions.

    The “charter” also sets down the goals of re-establishing security across the nation, two-thirds of which are outside government control; of “restoring the state”; and of staging general elections, The Guardian reports.

  • As Military Head, I Fought Corruption Headlong, President Buhari Recalls, Meets Jonathan Over Mali

    As Military Head, I Fought Corruption Headlong, President Buhari Recalls, Meets Jonathan Over Mali

    • At Launch Of National Ethics And Integrity Policy, President Buhari Calls For Rediscovery Of Our Cherished Traditional Ethical Values
    • Mali: Ecowas To Deliberate Again On Grey Areas, As Special Envoy, Goodluck Jonathan Briefs President Buhari

    President Muhammadu Buhari has declared that the National Ethics and Integrity Policy “projects government’s aspiration for rediscovery of our cherished traditional ethical values of honesty, integrity, hard-work, truth and justice, unity, faith, and consideration for one another irrespective of status or background. Corruption and corruptive tendencies are abhorrent to these core ethical values.”

    The President said this Monday in Abuja at the Independent Corrupt Practices and Other Related Offences Commission (ICPC) 2nd National Summit on Diminishing Corruption and launch of the National Ethics and Integrity Policy, an event to mark the 20th anniversary of the establishment of the anti-corruption agency. The Policy was put together by the ICPC, in collaboration with the Office of the Secretary to Government of the Federation, and the National Orientation Agency.

    The President recalled that, “as military Head of State, I fought corruption headlong and held public officers who abused their office or misused public funds to account. Furthermore, I introduced the War Against Indiscipline (WAI), one of whose cardinal objectives was promotion of our cherished culture of ethical conduct, integrity and hard work.

    “I recognized in 1984 as I do even more now that corruption poses a clear danger to Nigeria, so, we cannot relent in efforts to eradicate it from our society. As I have often reminded Nigerians, ‘If we do not kill corruption, corruption will kill Nigeria.’”

    He reiterated his belief that progress could only be achieved in the delivery of dividends for the citizenry when the arms and tiers of government work together.

    “I believe that it is when the three arms and the three levels of government work together that government will be enabled to serve the country. We will also see the positive impact of our efforts reaching all and sundry across the country.”

    According to the President, “bearing this critical factor in mind, I am happy that the theme of this year’s Summit by ICPC is, TOGETHER AGAINST CORRUPTION. I am aware that this theme derives from the theme of our 60th anniversary celebration. Together as a nation, as a people, the three arms and three tiers of government working together, we can attack corruption and realize the vast potentials of our country.”

    President Buhari reiterated his earlier call on the judiciary to undertake reforms that will fast-rack delivery of justice for the common good.

    “We need to deploy resources to address our common needs rather than the greed of a callous few. We need a corruption-free public sector to achieve this transformation; we need a judicial system that dispenses justice without undue delay and technicality.

    “We need laws and legal system to be reformed to deliver justice to every citizen without regard to status and finally we need ethical re-orientation of the people to achieve this goal. When we work together against corruption we can defeat it.”

    He emphasized that enlightening Nigerians on preventive measures remains the key component in fighting corruption and commends ICPC in this regard.

    “I wish to reiterate the role of preventive measures, public education and enlightenment against corruption. This government through the Open Treasury initiative, TSA, GIFMIS, BVN and many more is implementing different corruption prevention measures to track and retain government revenue for the use of the people.

    “I commend the ICPC for its enforcement and prevention measures including system review of capital and personnel budget, regular analysis of the Open Treasury platform, enforcement action against diversion and mismanagement of public funds, working with the Federal Inland Revenue Service to increase the number of companies and persons within the tax net, tracking of constituency project budget utilization for the benefit of ordinary Nigerians and its monitoring of implementation of budget by the Executive in key sectors like Agriculture sector.”

    Apart from presenting publications by the Commission, President Buhari also commended and presented awards to Opeyemi Peter Adeboye, Chikezie Favour and Matilda Daniels winners of the ICPC Youth Music and Essay Competitions on promotion of anti-corruption values as well as the 2020 Public Service Integrity Awardees; CSP Francis Osagie Erhabor of the Nigeria Police and Hamza Adamu Buwai of the Federal Ministry of Industry, Trade & Investment who demonstrated the will to look away from graft and corruption.

    He told them, “I congratulate all the awardees. Even though COVID-19 has not permitted the kind of ceremony that you deserve, Nigeria is proud of you. You are a pride to your families, institutions and to Nigeria.”

    There were goodwill messages from the Senate President Ahmed Lawan, Chief Justice of Nigeria, Ibrahim Tanko Mohammed, Governor Kayode Fayemi of Ekiti State, Minister of Justice and Attorney General Abubakar Malami (SAN) and United Nations Resident Coordinator Edward Kallon. The UN Coordinator particularly said the level of transparency in fighting corruption under President Muhammadu Buhari was ‘unequivocal.’

    In another development, Heads of State and Government of the Economic Community of West African States (ECOWAS), at the behest of their Chairman, President Nana Akufo-Addo of Ghana, may confer again to discuss outstanding grey areas in the Mali political situation, President Muhammadu Buhari has indicated.

    The President spoke after receiving briefing at State House, Abuja, Monday, from ECOWAS Special Envoy to Mali, former Nigerian President, Dr Goodluck Jonathan.

    Mali has appointed a civilian as Interim President, who will stay in office for 18 months, and lead the country back to constitutional order, after the military had taken over power in the country. That was part of irreducible demands by West African leaders before sanctions imposed on the country could be lifted.

    However, according to the Special Envoy, the military leaders are yet to satisfy ECOWAS demand of a full civilian as Vice President, and what his roles would be in government. That position is currently being held by a serving military officer, who was also one of the leaders of the take-over.

    President Buhari counseled the Special Envoy to present a formal report to the new ECOWAS Chairman, President Nana Akufo-Addo of Ghana, “who will then write us officially, and we then determine the next steps.”

    The President said with about two-thirds of Mali currently under occupation by terrorists, “the priority of the military should be to secure their country,” rather than hold on to power.

  • South Africa’s Minister of Defence Loses 3Month Salary for Flying State Jet on Political Trip

    South Africa’s Minister of Defence Loses 3Month Salary for Flying State Jet on Political Trip

    South Africa’s Minister of Defence, Nosiviwe Mapisa-Nqakula, has been sanctioned for using a state jet for political trip, which is clearly outside official activities permitted for such.

    The nation’s President, Cyril Ramaphosa stated that Mapisa-Nqakula’s salary would be docked for three months over her use of state jet for an ANC September trip to Zimbabwe.

    The Defence Minister also gave a jet-ride to an entire ANC delegation including Secretary General Ace Magashule, who traveled to meet with members of the Zanu-PF, Zimbabwe’s ruling party, over political happenings in the nation.

    According to acting president’s spokesman Tyrone Seale “The President has further sanctioned the Minister by imposing a salary sacrifice on the Minister’s salary for three months, starting from 1 November 2020,”

    President Ramaphosa said: “it was an error of judgment” to use a state aircraft to deliver a political message to another country.

    The amount would be paid to the Solidarity Fund set up to respond to the COVID-19 pandemic.

    Ramaphosa has also informed the minister to direct the ANC to repay the costs of the flight to Harare and report to him once that has been completed.

  • Photo Story: President Buhari attends Guinea Bissau’s 47th Anniversary

    Photo Story: President Buhari attends Guinea Bissau’s 47th Anniversary

    President Muhammadu Buhari participates at Programme of Guinea Bissau National Day Celebration in Bissau on 24th Sep 2020.

    President Muhammadu Buhari arrives Guinea Bissau where he attends the co-West African nation’s 47th independence anniversary. He was received by President Umaro Sissocco Embalo and other top government officials.
    President Muhammadu Buhari arrives Guinea Bissau where he attends the co-West African nation’s 47th independence anniversary. he is welcomed by a troupe.

    Later in the capital city of Bissau, President Buhari commissioned a road named in his honour
    Later in the capital city of Bissau, President Buhari commissioned a road named in his honour
  • Guinea Bissau at 47: President Buhari Pledges Nigeria’s Increased Support for Stability

    Guinea Bissau at 47: President Buhari Pledges Nigeria’s Increased Support for Stability

    President Muhammadu Buhari Thursday pledged that Nigeria will continue to assist Guinea-Bissau in any way possible, saying ‘‘a peaceful and prosperous Guinea-Bissau is a win for West Africa and for Africa.’’

    According to Special Adviser on Media and Publicity, Femi Adesina, the President joined the Heads of State and Government of Senegal, Mauritania and Burkina Faso to celebrate the 47th independence anniversary of Guinea Bissau at the 24 de Setembro National Stadium, Bissau.

    Speaking at the event, President Buhari said he was proud of the support Nigeria provided to past electoral processes in the West African country’s commendable efforts to entrench democracy.

    ‘‘This support can only be increased under my tenure,’’ he said.

    The President also placed on record Nigeria’s contribution of troops under the auspices of ECOWAS Mission in Guinea Bissau (ECOMIB), noting that they played an important role in maintaining peace and security.

    Congratulating President Umaro Sissocco Embalo, the government and people of Guinea Bissau on the 47th Independence anniversary, the Nigerian leader said it was his sincere hope and prayer that Guinea-Bissau and its people will continue to grow in strength and prosperity.

    He also expressed good wishes for greater achievements in the years ahead for the West African country.

    President Buhari said:

    ‘‘I feel delighted because this is my first official visit to Guinea Bissau since my assumption of office in 2015 and because I am here to join you, brotherly people of Guinea Bissau, as you celebrate this great day with renewed hope and aspiration.

    ‘‘I am truly grateful for the warm reception accorded me and my delegation, since our arrival in this city.

    ‘‘As you mark your freedom as a nation “free forever’, let me seize this opportunity to salute all Bissau Guineans both at home as well as in the Diaspora, for the strides you have made as a country. Permit me to say Parabens! Congratulations!’’

    President Buhari recounted that on September 10, 1974 Guinea Bissau declared its independence from Portugal, after a protracted struggle for freedom, which brought Portuguese colonization to an end.

    ‘‘It is fitting on this august occasion to remember your forebears and to celebrate them for the sacrifices they made for you to be free.

    ‘‘The highest tribute we can pay them is to build on the gains of independence. It is my sincere prayer that your country will continue on the path of national cohesion, growth and unity,’’ he said.

    On the return to democracy in the West African country, President Buhari noted that in the aftermath of the peaceful presidential elections in 2019, which ushered in the present administration of President Embalo, Guinea Bissau had a great opportunity to unleash the great economic potential of this country.

    ‘‘The international community attested to the fairness of the elections now endorsed by the Supreme Court of Guinea Bissau.

    ‘‘I, therefore, congratulate you, the people of Guinea-Bissau for this achievement and urge you to sustain your unity of purpose,’’ he said.

    The Nigerian leader also used the occasion to reflect on the excellent relations between Nigeria and Guinea, pledging that his administration will take it to a new height.

    ‘‘Relations between Nigeria and the Republic of Guinea Bissau which dates back to the country’s liberation struggle against Portugal have been extremely warm.

    ‘‘I am determined to carry this excellent relationship to the next level of fruitful cooperation and partnership, together with my brother Umaro Embalo,’’ he said.

    On regional integration, President Buhari stressed the need for ECOWAS member countries to remain committed to realising the vision of its founding fathers.

    ‘‘It is my desire that Nigeria and Guinea-Bissau as well as other member countries of the Economic Community of West African States (ECOWAS) will continue to provide the impetus in realizing the objectives and ideals of its Founding Fathers and to ensure security, peace and development of our region,’’ he said.

    The President thanked President Embalo, the government and good people of the Republic of Guinea-Bissau for being a good host to Nigerians resident in the country, saying ‘‘colonial boundaries will never break the bond of kinship that binds us’’.

    Later in the capital city of Bissau, President Buhari commissioned a road named in his honour.

  • Nigeria-Ghana Relation: Buhari, Akufo-Addo Meet At State House Abuja

    Nigeria-Ghana Relation: Buhari, Akufo-Addo Meet At State House Abuja

    President Muhammadu Buhari on Sunday night met with the President of Ghana, Nana Akufo-Addo at the Presidential Villa, Abuja.

    The meeting was confirmed by the Special Adviser to the President on Media and Publicity, Femi Adesina who posted pictures of the two West-African leaders walking side by side on his Facebook page.

    READ ALSO:

    Video: Another ‘Trade War’ is Brewing Between Nigeria and Ghana

    Although, Adesina did not reveal the agenda of the meeting in his post, it is however believed not unconnected with heightened tensions between the two neighbouring Nations caused by the closure of shops owned by Nigerian traders in Ghana.

    President Buhari receives in audience Ghanian President H.E. Nana Akufo-Addo in State House on 20th Sep 2020

    The trade tension compelled Nigeria’s Minister of Foreign Affairs, Geoffrey Onyeama to summon Ghana’s Charge d Affaires to Nigeria, Ms Iva Denoo for discussions.

    Onyeama had also met with representatives of Nigerian traders in Ghana, led by Jasper Emenike, the National President of Progressive Ambassadors of Nigeria (PAN), and the organisation’s National Director, Ruth Ango over the matter.

    Recall Echotitbits reported that Speaker, House of Representatives, Femi Gbajabiamila visited Ghana on Sept. 2 with a view to seeing how the issues at stake could be resolved amicably.

    READ ALSO:

    Gbajabiamila’s Legislative Diplomacy to Accra, Akufo-Addo Endorses Nigeria-Ghana Business Council to Resolve Trade & Investment Disputes

    Speaking at a meeting with the Speaker of the House of Representatives, Femi Gbajabiamila, Akufo-Addo said a request by the speaker for a review of Ghana Investment Promotion Centre (GIPC) Act to make certain concessions was in order as it “makes a lot of sense”.

    The Ghanaian President, at that meeting promised to also raise the issue with President Muhammadu Buhari.

  • Sanwo-Olu Congratulates Hamzat at 56

    Sanwo-Olu Congratulates Hamzat at 56

    Lagos State Governor, Babajide Sanwo-Olu, has celebrated his Deputy, Obafemi Hamzat, who clocked 56 on Saturday, describing him as a reliable, trust worthy and committed brother, friend and partner in the Greater Lagos Agenda of the incumbent administration.

    Sanwo-Olu also lauded Hamzat’s contribution to the growth and development of Lagos State in the last 17 years, saying he has all along used his position as commissioner in different ministries and now the number two citizen of the Centre of Excellence to bring about positive change to the state and the country at large.

    “Happy 56th birthday to my reliable, hardworking, dependable, supportive and committed brother, friend and partner in the Greater Lagos Agenda of our administration.

    “You made great achievements as Commissioner for Science and Technology between 2005 and 2011 as well as Commissioner of Works and Infrastructure.

    Kogi Set to Tap into LAWMA”s Strategies to Establish Robust Waste Management System

    “During your tenure as Commissioner for Science and Technology, you enforced the application of modern technology in the state’s ministries, thus changing the face of data and record keeping in Lagos and at the same time eliminating the trend of state ghost workers.

    “In execution of your mandate as Commissioner for Works and Infrastructure, your ministry completed several key projects for Lagos State in the mega-city era. Your achievements in the ministry were well recognised as you emerged winner of the fifth edition of the Lagos State Man of the Year Awards in September 2013.

    “We cherish your contributions to party politics and governance in our dear state. You are a worthy ambassador and champion in the blend of technocracy and politics. As a true democrat and progressive politician, you have remained steadfast in the progressive camp.

    “As you celebrate your 56th birthday, I pray that God will increase you in good health to enable you render more service to humanity, Lagos State and Nigeria,” Sanwo-Olu said.

    Fashola Inspects Ongoing Repair Works on Third Mainland Bridge

    Meanwhile, in the spirit of social distancing and in line with the novel Coronavirus COVID-19 safety protocols, the deputy governor has said he would mark his birthday anniversary with his family, adding that he would still perform his official duty.

    He thanked God for His mercy and promised to re-dedicate himself to the service of humanity.

    He said: “To Almighty Allah, the Beneficent, the Merciful.

    “Another September 19th has come to remind me to always count my blessings, to not take anything for granted. To work like no one is watching, to serve selflessly, to be giving of myself, to impact the lives of the people I have chosen to serve, to leave my footprints in the sands of time, to be humble yet firm, and to work hand in hand with my conscience at all times.

    “I am grateful for the grace and favour bestowed upon me by Almighty Allah.

    Update: Sanwo-Olu, Amaechi visit scene where train kills 2

    “To my family for their love and support, and to everyone for their belief in the Sanwoolu/Hamzat administration. I say Thank You.

    “In the spirit of social distancing and in line with the COVID-19 safety measures, I would spend my birthday with my family, and working.

    “Thank you all once again, and God bless.”

    Idowu Sowunmi

  • Mali Buries Ex-Dictator Moussa Traore Who Ruled for 22 Years

    Mali Buries Ex-Dictator Moussa Traore Who Ruled for 22 Years

    A former dictator, Moussa Traore, who ruled Mali for 22 years and deposed in a 1991 coup, has been laid to rest during a state funeral held in his honour on Friday.

    The former autocratic leader died at age 83 in Bamako, the Malian capital on September 15.

    According to AFP journalists, Traore was buried at a Bamako military camp, where a funeral band played at the arrival of his coffin, which was draped in the Malian flag.

    Soldiers dressed in full regalia stood at attention, while two planes performed a flypast overhead.

    READ ALSO:

    Mali: Military-Appointed Experts Propose 2-Year Transition With President Chosen By Junta

    Traore’s funeral ceremony on Friday was attended by the head of the ruling military junta, Colonel Assimi Goita, part of a group of young officers who launched a coup ousting president Ibrahim Boubacar Keita on August 18.

    Former President Amadou Toumani Toure, the man who deposed Traore in the 1991 coup, was also in attendance alongside and other former leaders of the Sahel state.

    While Russian diplomats attended the ceremony, no French or European Union representatives were present, AFP journalists reported.

    Traore, a young lieutenant in 1968, was the main instigator of a coup that ousted Modibo Keita, the country’s first president after independence from France in 1960.

    READ ALSO:

    ECOWAS: President Buhari Pledges Nigeria’s Support for Consolidation of Democracy

    The then young officer became president a year after the coup and ruled with an iron fist, before he was eventually overthrown in a military coup in 1991.

    In recent years, the ex-dictator was increasingly seen as an elder statesman in the notoriously unstable country, with politicians soliciting his advice.

  • ECOWAS: President Buhari Pledges Nigeria’s Support for Consolidation of Democracy

    ECOWAS: President Buhari Pledges Nigeria’s Support for Consolidation of Democracy

    Nigeria has pledged to within the limits of resources support the consolidation of democracy in West African countries.

    President of the most populous black nation in the world, Muhammadu Buhari made the pledge on Thursday when he received the President of Burkina Faso, Roch Marc Christian Kabore, who was on a one-day official visit to Nigeria.

    READ ALSO:

    If Only

    President Buhari at the meeting reiterated Nigeria’s support for Burkina Faso scheduled to hold elections in November this year.

    “We are keeping tabs on situations in countries that have elections ahead. We know the countries that are calm and the ones where there have been unfortunate casualties. We will always support those who have elections ahead, so that things can go smoothly,” President Buhari said.

    Nigeria’s President Muhammadu Buhari receives President of Burkina Faso, Roch Marc Christian Kabore, at theState House Abuja on Thursday, September 17, 2020.

    President Kabore, who chairs the Economic, Trade and Liberalization Scheme of ECOWAS, said he was in Nigeria to discuss with President Buhari crucial sub-regional issues that include the convening of a joint commission meeting between Nigeria and Burkina Faso, reported trade difficulties among Nigeria, Ghana, Republic of Benin, and Niger Republic, and the way forward.

    President Kabore commended President Buhari for what he called “strong leadership and support” displayed by the Nigerian leader in his capacity as Chairman of COVID-19 response in West Africa.

    READ ALSO:

    Buhari’s Govt Accused of Plagiarism over ‘Nigeria at 60 Logo’

    “I must also applaud your strong leadership against terrorism in the sub-region,” the Burkinabe Leader said.

    On the situation in Mali, he expressed hope that the summit held in Accra, Ghana, on Tuesday, would yield positive results, stressing: “We need cohesion all over West Africa.”

    Photos:

     

    Nigeria’s President Muhammadu Buhari receives President of Burkina Faso, Roch Marc Christian Kabore, at theState House Abuja on Thursday, September 17, 2020.
  • Climate Financing in Africa: Experts Advocate Smarter Collaboration Among Funders

    Climate Financing in Africa: Experts Advocate Smarter Collaboration Among Funders

    Experts at the 2020 Global Philanthropy Forum have called for greater collaboration among funders to address the severe threat that climate change poses to Africa’s development.

    The experts, who at a virtual session oranised by the African Development Bank, highlighted the critical role of innovative approaches towards mobilising climate adaptation finance in Africa.

    The session, which was titled: “Inclusive Green Economies – Harnessing Opportunities and Innovative Solutions for Investments in Climate-Resilient Development in Africa,” began with a call for sustainable ways for the continent to emerge stronger from the pandemic.

    The event was moderated by the Senior Associate at the Global Climate Adaptation Partnership, Emily Ojoo-Massawa.

    Speaking at the event, the Manager of Climate and Green Growth at the African Development Bank, Al Hamndou Dorsouma, said: “The path to a sustainable COVID-19 recovery will therefore require investments that simultaneously tackle the pandemic and prevailing climate risks while offering attractive co-benefits.”

    Africa is among the world’s most climate-vulnerable regions, and the economic cost is high: as much as $15 billion in 2020, rising to potentially $50 billion by 2040, which is equivalent to 7% of the continent’s GDP.

    Al Hamdou Doursouma noted that The the bank is on track to mobilise $25 billion between 2020 and 2025 to support investments in climate change.

    In his remarks, the Senior Adaptation and Resilience Specialist, Climate Change Group at the World Bank, Arame Tall, called for the involvement of ministries of finance in outlining adaptation investment opportunities in different countries.

    “The moment for adaptation has come. Interestingly, we have the attention of philanthropy, private sector and non-traditional investors, who want to invest in harnessing new opportunities in climate change adaptation.

    “We need the ministries of finance to be involved in outlining adaptation investment opportunities in countries to better harness these opportunities, including clear investment and sectoral plans,” Tall explained.

    With less than two per cent of philanthropic funding going to combat climate change, funders face a challenge.

    Thus, the experts advocated for more collaboration in smarter ways in order to meet ambitious targets and rally support from all sectors, drawing attention to the unprecedented challenge posed by the COVID-19 pandemic.

    “Collaboration is important to lay a solid foundation to achieve a greener post-COVID future,” said the African Development Bank’s Director for Agricultural Finance and Rural Infrastructure Development, Atsuko Toda.

    She called for a paradigm shift in adaptation financing, noting the bank’s willingness to work with partners to accelerate Africa’s adaptation.

    In October 2018, the bank’s Board of Directors approved a framework for the implementation of the Africa Disaster Risk Financing (ADRiFi) Programme, which offers regional member countries an opportunity to pool and transfer their climate-related risks by paying a sovereign insurance premium.

    “The payout is made immediately after a disaster happens.

    “The bank partners with the African Risk Capacity Insurance Company (ARC) to implement ADRiFi.

    “The COVID-19 crisis has underscored the urgency of building healthier, more inclusive and more resilient economies, the meeting heard,” Toda said.

    Chief Executive Officer of ARC, Lesley Ndlovu, noted the need for countries to plan for exposures and build resilience.

    “At the African Risk Capacity, we work with countries to prepare them for the risk exposure they have and help them prepare for how to respond, including helping them to establish a rainy-day fund. We have also partnered with the African Development Bank for the Africa Disaster Risk Financing initiative and other financing instruments.

    “We need broader collaborations to solve the problem that our continent faces. The problem is so big that all of us have a role to play,” Ndlovu said.

    In 2019, the African Development Bank prioritised adaptation finance, with 55 per cent of its climate-focused financing invested in adaptation actions.

    The bank’s adaptation finance rose from $500 million in 2012 to $2 billion in 2019, cumulatively representing $18.6 billion over this period.

    Idowu Sowunmi