Development lenders in Africa can seize the current global crises as an impetus to help the continent significantly increase food production. This was a common conclusion of panelists at this year’s Finance in Common summit in Abidjan on Wednesday.
Participants agreed that development partners should work with governments and other policymakers to bolster the resilience of private businesses, especially those led by women.
The panelists included Beth Dunford, Vice President for Agriculture, Human and Social Development at the African Development Bank; Ijeoma Ozulumba, Executive Director and Chief Financial Officer of the Development Bank of Nigeria; James Mwangi, Group Managing Director and CEO of Kenya-based pan-African Equity Group Holdings; and Admassu Tadesse, CEO of Trade and Development Bank.
The panel discussion, unlocking smart and inclusive Recovery in Africa through the private sector, was one of several at the three-day summit that looked at how multilateral development banks can bring tangible solutions to Africa’s development challenges.
The African Development Bank and the European Investment Bank co-organized the summit under the theme; Green and Just Transition for a Sustainable Recovery to highlight the role of public development banks in Africa’s recovery as the continent faced impacts from the Covid-19 pandemic, climate change, and Russia’s war in Ukraine. The meetings are taking place less than a month before the UN climate conference, COP27, gets underway in Sharm el Sheikh, Egypt.
Dunford highlighted various initiatives by the African Development Bank to enhance financial inclusion, particularly by empowering women through digitization and capacity-building to make their activities bankable.
She said many women in business in Sub-Saharan Africa find it challenging to obtain affordable credit because of a misconception that their gender makes them high-risk borrowers. Dunford said the African Development Bank was working to change the mindset that categorizes women as not being creditworthy.
“At the African Development Bank and in our gender strategy, we’re looking into women’s economic empowerment across everything we do,” Dunford stressed. She added: “With every operation at the bank, there is the recognition that women’s empowerment is the key for delivering on growth. The strategy is paying off by reducing poverty among families.”
Dunford said that the bank’s Affirmative Finance Action for Women in Africa (AFAWA) program maintained its goal to bridge the $42 billion financing gap for women.
She said the African Development Bank was also making sure there is space for the private sector as governments turn to the domestic market to mobilize credit amid tightening global conditions.
Tadesse said Africa must use climate action to spur agriculture and climate-resilient infrastructure to rapidly boost food production.
He said: “What really needs to be done now is refocusing on supply-side measures because climate change, the Covid-19 pandemic and the new shocks coming from the war in Ukraine have left behind serious supply problems. That’s what is driving inflation, food insecurity, and energy insecurity and all fronts.”.
The Trade and Development Bank CEO said that the current food losses represent 8% of greenhouse emissions and that addressing them would be climate action. “If we’re just to invest in agriculture, storage, and cold chains, just to stem the losses, that will significantly contribute to addressing climate change.”
Tadesse reiterated the call for channeling more International Monetary Fund Special Drawing Rights to Africa. “We want to see more SDRs flow through Africa, and if it doesn’t flow, then it will be an opportunity lost.”
Mwangi called for a stronger collaboration between countries and development partners for rapid recovery. “I am seeing us moving more and more into scenario planning, and as the situation evolves very quickly, working together and learning with each other will see us grow,” he said.
Panelists also discussed current exchange rate volatilities, increasing costs of credit, and good governance in managing the development of financial institutions. Drawing from the Development Bank of Nigeria’s experience, Ozulumba said: “Governance is central to building a development bank, and Nigeria is a good role model with efficiency in operations.”
European Investment Bank Vice President Thomas Östros moderated the panel.
Source: afdb.org
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Tanzania Confirms Second Marburg Outbreak After WHO Chief Visit
Dar es Salaam — Tanzania’s President Samia Suluhu Hassan has declared an outbreak of Marburg virus, confirming a single case in the northwestern region of Kagera after a meeting with WHO director-general Tedros Adhanom Ghebreyesus.
The confirmation follows days of speculation about a possible outbreak in the region, after the WHO reported a number of deaths suspected to be linked to the highly infectious disease.
While Tanzania’s Ministry of Health declared last week that all suspected cases had tested negative for Marburg, the WHO called for additional testing at international reference laboratories.
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Subsequent laboratory tests conducted at Kagera’s Kabaile Mobile Laboratory and confirmed in Dar es Salaam identified one positive case, while 25 other suspected cases tested negative, the president told a press conference in Dodoma, in the east of the country today (Monday).
“The epicentre has now shifted to Biharamulo district of Kagera,” she told the press conference, distinguishing this outbreak from the previous one centred in Bukoba district.
Tedros said the WHO would release US$3 million from its emergencies contingency fund to support efforts to contain the outbreak.
Health authorities stepped up surveillance and deployed emergency response teams after the WHO raised the alarm about nine suspected cases in the region, including eight deaths.
The suspected cases displayed symptoms consistent with Marburg infection, including headache, high fever, diarrhoea, and haemorrhagic complications, according to the WHO’s alert to member countries on 14 January. The organisation noted a case fatality rate of 89 per cent among the suspected cases.
“We appreciate the swift attention accorded by the WHO,” Hassan said.
She said her administration immediately investigated the WHO’s alert.
“The government took several measures, including the investigation of suspected individuals and the deployment of emergency response teams,” she added.
Cross-border transmission
The emergence of this case in a region that experienced Tanzania’s first-ever Marburg outbreak in March 2023 has raised concerns about cross-border transmission, particularly following Rwanda’s recent outbreak that infected 66 people and killed 15 before being declared over in December 2024.
The situation is particularly critical given Kagera’s position as a transport hub connecting four East African nations.
Amelia Clemence, a public health researcher working in the region, says constant vigilance is required.
“We never know when an outbreak might occur in a neighbouring nation. So we ensure infection prevention control assessments at every point of care as routine as a morning greeting at our workplaces.”
The Kagera region’s ecosystem, home to fruit bats that serve as natural reservoirs for the Marburg virus, adds another layer of complexity to disease surveillance efforts.
The virus, closely related to Ebola, spreads through contact with bodily fluids and can cause severe haemorrhagic fever.
Transparency urged
Elizabeth Sanga, shadow minister of health for Tanzania’s ACT Wazalendo opposition party, says greater transparency would help guide public health measures.
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“This could have helped to guide those who are traveling to the affected region to be more vigilant and prevent the risk of further spread,” she said.
WHO regional director for Africa Matshidiso Moeti says early notification of investigation outcomes is important.
“We stand ready to support the government in its efforts to investigate and ensure that measures are in place for an effective and rapid response,” she said, noting that existing national capacities built from previous health emergencies could be quickly mobilised.
The situation coincides with leadership changes in Tanzania’s Ministry of Health, with both the chief medical officer and permanent secretary being replaced.
This piece was produced by SciDev.Net’s Sub-Saharan Africa English desk.
Source: allafrica.com
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