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 Outbreak of Marburg Virus Disease
Dodoma — Tanzania today confirmed an outbreak of Marburg virus disease in the northwestern Kagera region after one case tested positive for the virus following investigations and laboratory analysis of suspected cases of the disease.
President of the Republic of Tanzania, Her Excellency Samia Suluhu Hassan, made the announcement during a press briefing alongside World Health Organization (WHO) Director-General, Dr Tedros Adhanom Ghebreyesus, in the country’s administrative capital Dodoma.
“Laboratory tests conducted in Kabaile Mobile Laboratory in Kagera and later confirmed in Dar es Salaam identified one patient as being infected with the Marburg virus. Fortunately, the remaining suspected patients tested negative,” the president said. “We have demonstrated in the past our ability to contain a similar outbreak and are determined to do the same this time around.”
A total of 25 suspected cases have been reported as of 20 January 2025, all of whom have tested negative and are currently under close follow-up, the president said. The cases have been reported in Biharamulo and Muleba districts in Kagera.
“We have resolved to reassure the general public in Tanzania and the international community as a whole of our collective determination to address the global health challenges, including the Marburg virus disease,” said H.E President Hassan.
WHO is supporting Tanzanian health authorities to enhance key outbreak control measures including disease surveillance, testing, treatment, infection prevention and control, case management, as well as increasing public awareness among communities to prevent further spread of the virus.
“WHO, working with its partners, is committed to supporting the government of Tanzania to bring the outbreak under control as soon as possible, and to build a healthier, safer, fairer future for all the people of Tanzania,” said Dr Tedros. “Now is a time for collaboration, and commitment, to protecting the health of all people in Tanzania, and the region, from the risks posed by this disease.”
Marburg virus disease is highly virulent and causes haemorrhagic fever. It belongs to the same family as the virus that causes Ebola virus disease. Illness caused by Marburg virus begins abruptly. Patients present with high fever, severe headache and severe malaise. They may develop severe haemorrhagic symptoms within seven days.
“The declaration by the president and the measures being taken by the government are crucial in addressing the threat of this disease at the local and national levels as well as preventing potential cross-border spread,” said Dr Matshidiso Moeti, WHO Regional Director for Africa. “Our priority is to support the government to rapidly scale up measures to effectively respond to this outbreak and safeguard the health of the population,”
Tanzania previously reported an outbreak of Marburg in March 2023 – the country’s first – in Kagera region, in which a total of nine cases (eight confirmed and one probable) and six deaths were reported, with a case fatality ratio of 67%.
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In the African region, previous outbreaks and sporadic cases have been reported in Angola, the Democratic Republic of the Congo, Ghana, Kenya, Equatorial Guinea, Rwanda, South Africa and Uganda.
Marburg virus is transmitted to people from fruit bats and spreads among humans through direct contact with the bodily fluids of infected people, surfaces and materials. Although several promising candidate medical countermeasures are currently undergoing clinical trials, there is no licensed treatment or vaccine for effective management or prevention of Marburg virus disease. However, early access to treatment and supportive care – rehydration with oral or intravenous fluids – and treatment of specific symptoms, improve survival.
Source: allafrica.com
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