Côte d'Ivoire's President Alassane Ouattara headed a top-level line-up of political and business leaders on Tuesday, June 30 in Abidjan to launch the African Energy Leaders Group (AELG) in West Africa, with concrete plans to drive sector reforms and a pipeline of bankable investment projects for sustainable energy access across the region.
Sub-Saharan Africa, where 600 million people live without electricity, has the lowest level of energy access in the world, and West Africa has the highest levels of energy poverty on the continent. Electricity and clean cooking facilities are fundamental building-blocks for prosperity and wellbeing, from basic health and education to industrial and agricultural development.
Barack Obama has chided African leaders who refuse to give up power in his initial speech at the African Union headquarters by a US president.
The scolding came in the course of his address on Tuesday in the Ethiopian capital Addis Ababa to the 54-member continental bloc.
"Africa's democratic evolution is as well at risk at the same time as leaders refuse to step aside at the same time as their terms end," Obama said. "No one should be president for life."
The ECOWAS Bank for Investment and Improvment(EBID) says it would continue to focus efforts on providing support to private and public sector initiatives to grow the economies and create jobs in the sub-region.
Mr Bashir Ifo, EBID President, said everything would be done to lift the people out of poverty and transform their economic situation.
Evidence of this, he said could be seen from the bank’s assistance in areas of infrastructure, agriculture and private sector development.
- Key Facts
Ambassador : H.E Julio MoraisFull name: The Republic of Cape Verde
Population: 501,000 (UN, 2011)
Area: 4,033 sq km (1,557 sq miles)
Major languages: Portuguese, Crioulo (a mixture of archaic Portuguese and African words)
Major religions: Christianity
Life expectancy: 71 years (men), 78 years (women) (UN)
Monetary unit: 1 Cape Verdean escudo = 100 centavos
Main exports: Shoes, clothes, fish, bananas, hides, pozzolana (volcanic rock, used to make cement)
GNI per capita: US $3,270 (World Bank, 2010)
Internet domain: .cv
International dialling code: +238
Investment into Africa has usually been the preserve of developed world firms seeking additional yield for their portfolios. However, in the completed few years additional and additional money has been poured into African projects by local investors as African wealth increases.
‘Rising Africa’ is a term much bandied around in the investment world in 2015, often used by investors in developed economies fleeing from depressed yields in their own backyards and alighting on a continent that has an all additional promising increase story.
Cabo Verde (Cape Verde) wants to diversify its economic relations, with particular focus on the “South-South” axis and on Angola and China, to reduce dependence on European nations, according to the Economist Intelligence Unit (EIU).
Because of its dependence on Portugal and Italy, nations that have experienced crises in recent years affecting the tourism sector, the Cape Verdean economy lost its momentum and the government believes it can return to it by strengthening “South-South” links.
In June, Cabo Verde and Angola signed a memorandum of considerate in Luanda to expand cooperation and bilateral investment , following a wave of Angolan investment in the archipelago, in which Isabel dos Santos, the major Angolan businesswoman, had a starring role.
The organization Street Child estimates that around 12,000 children have been orphaned by Ebola in Sierra Leone. Khadi Mansaray sat down with founder and CEO Tom Dannant to discuss how the organization has adapted its model to address the needs of these children, and the challenges that remain.
At the same time as a statement by the world’s most influential development agency provides evidence that a lot of of its staff are “biased” in their perceptions of the poor and their needs, one may expect eyebrows to be raised. At the same time as the president of that institution — the World Bank, no less — acknowledges the flaw and goes on to call for “measures to mitigate these biases, such as additional rigorously diagnosing the mindsets of the people we are trying to help”, jaws should be dropping.
The World Bank has cut its estimate for world increase, warning that the world economy remained overly reliant on the “single engine” of the US recovery.
The Bank said it expected lower oil prices to provide a boost to world activity. But it warned several headwinds would mitigate the result of the falling cost of crude. These include weak confidence part consumers and businesses and the inability of large central banks to cut interest rates below their record-low levels to boost inflation expectations.
The re-opening of the Benguela railway in 2014 will remain as China’s flagship project in Angola, but as well as a symbol of a year in which the relationship between China and Portuguese-speaking nations continued to increase.
Chinese ties with Angola, Mozambique and Cabo Verde (Cape Verde) involve Macau and Portugal, which in 2014 saw Chinese investment in the country rise to 10 billion euros, with several new deals expected in 2015, this time in the financial sector.
Economic and trade cooperation between China and the Portuguese-speaking nations will be deepened, Chinese Vice Premier Wang Yang guaranteed on Tuesday in Macau, announcing an eight-point plan with specific measures to be implemented between 2014 and 2016.
In the opening speech of the fourth Ministerial Conference of Forum Macau, Wang said that the initial of those measures would be the Chinese government’s granting of subsidised loans worth 1.8 billion yuan (US$293 million) to the Portuguese-speaking African and Asian Forum member nations.
The ECOWAS Commission is irrevocably committed to working for free, equitable and credible elections in Member States with a view to entrenching democracy, good governance and facilitating regional integration and development, the President of the Commission, Kadre Desire Ouedraogo, has said.
A "once in a generation opportunity" – that's how Christine Lagarde, managing director of the International Monetary Fund (IMF), described the luck to assemble the resources to finance the economic and social development of the world's poor. Following a speech in Washington DC prior to the Financing for Development conference in Addis Ababa, Ethiopia from 13-16 July, Lagarde sat down to discuss development challenges.
The climate is temperate with warm and dry summer; precipitation meager and very erratic.
Cape Verde to remain part the majority stable nations in Africa in 2012-13. Next internationally acclaimed presidential and parliamentary elections in 2011-which have led to a system of cohabitation with a parliamentary majority for the Partido Africano da Independência de Cabo Verde (PAICV) but the presidency held by Jorge Carlos Fonseca from the Movimento para a Democracia (MPD)-the country is presently moving towards municipal elections in May and June.
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- Cape Verde News
- ENERGY: Côte d'Ivoire's President Launches West African Energy Leaders Group
- EVENT: Obama Chides African Leaders Who Cling to Power
- BANKING / INVESTMENT: ECOWAS Bank to focus on economic growth
- AGRICULTURE: Avian flu in West Africa / FAO , prevent spread across region of 330 million
- ENVIRONMENT: Hunting in Africa - to Ban or Not to Ban Is the Question
- BUSINESS / TRADE: Cabo Verde PM visits Guinea-Bissau to enhance relations
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