Author: prtimesafrica

  •  African Development Bank’s Sustainable Energy Fund for Africa approves $8 million for development of 25 MW Solar Plant

     African Development Bank’s Sustainable Energy Fund for Africa approves $8 million for development of 25 MW Solar Plant

    African Development Bank’s Sustainable Energy Fund for Africa approves $8 million for development of 25 MW Solar Plant

    Serengeti Energy Ltd and Western Solar Power Ltd are leading the plant development in Zambia’s Sesheke District

    ABIDJAN, Ivory Coast, October 30, 2024/ — The African Development Bank Group’s (www.AfDB.org) Board of Directors has approved an $8 million concessional loan to support the construction of a 25MW Solar Photovoltaic power plant in Zambia. The financing for the Ilute Plant will be sourced from the Sustainable Energy Fund for Africa (SEFA), a multi-donor Special Fund managed by the Bank. Ilute is expected to advance  Zambia’s sustainable development and help the country unlock its renewable energy potential.

    The venture has faced rising costs associated with  the COVID-19 pandemic and other challenges. Serengeti Energy Ltd (http://apo-opa.co/4hth8dE) and Western Solar Power Ltd (http://apo-opa.co/3YJBxUr) are leading the plant development in Zambia’s Sesheke District. Competitively selected by GreenCo Power Services Ltd (GreenCo) (http://apo-opa.co/4hiM3ci), this project will serve as a pilot for GreenCo’s energy aggregator model under the Zambia Electricity Supply Corporation Limited (ZESCO) (http://apo-opa.co/3YIpw1h) open grid access framework. Acting as an intermediary off-taker, GreenCo will purchase the generated electricity through a 25-year Power Purchase Agreement and sell it to the Southern African Power Pool Day-Ahead Market (http://apo-opa.co/3YELlih).

    “We are delighted to support the Ilute Solar PV project – which will be the first project to use Africa GreenCo as an intermediate off-taker. SEFA’s support has been instrumental in bridging the financing gap and will pave the way for future projects that contribute to Southern Africa’s energy transition,” said Dr Daniel Schroth, African Development Bank Director for Renewable Energy and Energy Efficiency.

    Anton-Louis Olivier, CEO of Serengeti Energy, acknowledged SEFA’s support. He said, “We appreciate the support from the African Development Bank Group and SEFA in helping us move the Ilute 25MW Solar PV project forward. This loan addresses the financial challenges we’ve faced due to the pandemic and rising costs. The Ilute project is a testament to innovative collaboration and serves as a pioneering model for future renewable energy initiatives in Zambia as well as the wider region.” Serengeti Energy is a leading renewable independent power producer specialising in the development, construction, and operation of utility-scale renewable energy plants tailored to the needs of both public and private off-takers.
    Distributed by APO Group on behalf of African Development Bank Group (AfDB).
    Media Contact:
    Olufemi Terry,
    African Development Bank Group,
    media@afdb.org

    Technical contact:
    Jason Seung-Soo Jin,
    Principal Renewable Energy Investment Officer
    sefa@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

    About SEFA:
    SEFA is a multi-donor Special Fund that provides catalytic finance to unlock private sector investments in renewable energy and energy efficiency. SEFA offers technical assistance and concessional finance instruments to remove market barriers, build a more robust pipeline of projects and improve the risk-return profile of individual investments. The Fund’s overarching goal is to contribute to universal access to affordable, reliable, sustainable, and modern energy services for all in Africa, in line with the New Deal on Energy for Africa and Sustainable Development Goal 7.

    SOURCE
    African Development Bank Group (AfDB)

     

  • African Rights Commission: Press Burkina Faso on Rights

    African Rights Commission: Press Burkina Faso on Rights

    Human Rights Watch (HRW)
    NEWS UPDATE
    African Rights Commission: Press Burkina Faso on Rights
    Country Review Should Focus on Civilian Protection, Civic Space, Accountability
    NEW YORK, United States of America, October 22, 2024/ — The African Commission on Human and Peoples’ Rights should focus on the most critical issues facing Burkina Faso during its country review on October 23, 2024, Human Rights Watch said today. The Burkinabè government should urgently address the need to protect civilians affected by armed conflict; safeguard civic space for activists, journalists, and the political opposition; and pursue accountability for serious abuses.

    State Reporting, an African Union mechanism established to monitor member states’ adherence to the African Charter on Human and Peoples’ Rights, requires countries to submit regular reports detailing legislative and other measures taken to uphold the rights enshrined in the charter. Current human rights concerns are not addressed in Burkina Faso’s report dated May 2023, which covers 2015 to 2021. These include widespread conflict-related abuses by state forces and Islamist armed groupsrestrictions on fundamental rights and freedoms, and pervasive impunity.

    “The African Rights Commission review of Burkina Faso offers a unique opportunity to engage with Burkinabè authorities on their human rights practices,” said Allan Ngari, Africa advocacy director at Human Rights Watch. “The commission should press the authorities to prioritize protection of civilians during military operations and ensure compliance with international humanitarian law.”

    Burkina Faso has been fighting an insurgency by the Al-Qaeda-linked Group for the Support of Islam and Muslims (Jama’at Nusrat al-Islam wa al-Muslimeen, JNIM) and the Islamic State in the Greater Sahara (ISGS) since the armed groups invaded the country from Mali in 2016. Burkina Faso has had two military coups since 2022.

    The Burkina Faso report outlines measures purportedly taken to tackle “violent extremism” and terrorism, such as establishing a pool to investigate and prosecute terrorist acts, and mobilizing provost marshals responsible for discipline in the armed forces and the protection of detainees’ rights. The report also states that security forces receive training in international human rights and humanitarian law to prevent abuse, and that those responsible for “inhumane or degrading acts” are held accountable.

    Human Rights Watch has documented grave abuses by Burkinabè security forces during counterinsurgency operations throughout the reporting period and since then, including crimes against humanity. Soldiers have unlawfully killed and forcibly disappeared hundreds of civilians whom they accused of collaborating with Islamist armed groups.

    The Islamist armed groups have committed serious abuses against civilians, including summary executions, sexual violence, abductions, and pillaging, and continue to besiege numerous towns and villages across the country.

    In April 2023, the African Rights Commission issued a communiqué following the killing of scores of civilians by alleged security forces in the village of Karma, Yatenga province, urging the authorities to initiate investigations and “ensure the protection of civilians.” In November 2023, the commission’s Working Group on the Death Penalty, Extrajudicial, Summary or Arbitrary Killings and Enforced Disappearances in Africa signed an urgent appeal letter following an attack on civilians in the village of Zaongo, Namentenga province, also calling for an investigation.

    Under international law, the Burkinabè government bears primary responsibility for ensuring justice for the most serious crimes. Yet, it has made limited progress in investigating, much less prosecuting, those responsible for the many grave offenses committed during the armed conflict since 2016. The report from Burkina Faso provides no information on investigations into alleged abuses by government security forces during the reporting period, nor on any judicial proceedings.

    The report also mentions measures taken to uphold civil and political rights, including a June 2017 law designed to protect human rights defenders. Nevertheless, the Burkinabè authorities have restricted civil and political rights during and since the reporting period, Human Rights Watch said.

    Since taking power in 2022, the junta has systematically cracked down on activists, opposition party members, journalists, and critics. Human Rights Watch has extensively documented the use of unlawful conscription to silence dissent, as well as abductions and enforced disappearances of dozens of government critics and dissidents.

    In December 2023, the African Rights Commission expressed concern about the abduction of the prominent human rights defender Daouda Diallo, and “acts of intimidation, judicial harassment and reprisals” against all rights defenders. In July, it denounced the alleged enforced disappearance of three Burkinabè journalists, calling on the authorities to provide information on their whereabouts and release them. The authorities have not provided any information regarding the journalists’ whereabouts, despite requests from their families and lawyers.

    The African Rights Commission has not visited Burkina Faso for several years. It should consider requesting permission for a formal visit to assess the human rights situation and publish a comprehensive report, Human Rights Watch said.

    “The African Rights Commission should raise in detail the grave abuses by security forces and Islamic armed groups and the need for accountability,” Ngari said. “The commission should also recommend concrete measures to ensure that activists, journalists, and political opponents are protected, allowing them to carry out their work without fear.”

    SOURCE
    Human Rights Watch (HRW)

     

  • Egypt is certified malaria-free by World Health Organization (WHO)

    Egypt is certified malaria-free by World Health Organization (WHO)

    World Health Organization - Regional Office for the Eastern Mediterranean
    NEWS UPDATE:
    • Egypt is certified malaria-free by World Health Organization (WHO)
    A total of 44 countries and 1 territory have reached the malaria-free milestone
    CAIRO, Egypt, October 20, 2024/ — The World Health Organization (WHO) has certified Egypt as ‘malaria-free’, marking a significant public health milestone for a country with more than 100 million inhabitants. The achievement follows a nearly 100-year effort by the Egyptian government and people to end a disease that has been present in the country since ancient times.

    “Malaria is as old as Egyptian civilization itself, but the disease that plagued pharaohs now belongs to its history and not its future,” said Dr Tedros Adhanom Ghebreyesus, WHO Director-General. “This certification of Egypt as malaria-free is truly historic, and a testament to the commitment of the people and government of Egypt to rid themselves of this ancient scourge. I congratulate Egypt on this achievement, which is an inspiration to other countries in the region, and shows what’s possible with the right resources and the right tools.”

    Egypt is the third country to be awarded a malaria-free certification in the WHO Eastern Mediterranean Region following United Arab Emirates and Morocco, and the first since 2010. Globally, a total of 44 countries and 1 territory have reached this milestone.

    “Receiving the malaria elimination certificate today is not the end of the journey but the beginning of a new phase. We must now work tirelessly and vigilantly to sustain our achievement through maintaining the highest standards for surveillance, diagnosis and treatment, integrated vector management and sustaining our effective and rapid response to imported cases. Our continued multisectoral efforts will be critical to preserving Egypt’s malaria-free status,” said H.E. Dr Khaled Abdel Ghaffar, Deputy Prime Minister of Egypt.

    I reaffirm that we will continue with determination and strong will to safeguard the health of all people in Egypt under the wise leadership’s guidance and proceed with enhancing our healthcare system, this will remain a cornerstone in protecting the lives of all people living in and visiting Egypt.”

    Certification of malaria elimination is granted by WHO when a country has proven, beyond reasonable doubt, that the chain of indigenous malaria transmission by Anopheles mosquitoes has been interrupted nationwide for at least the previous three consecutive years. A country must also demonstrate the capacity to prevent the re-establishment of transmission.

    Egypt’s journey to elimination

    Malaria has been traced as far back as 4000 B.C. in Egypt, with genetic evidence of the disease found in Tutankhamun and other ancient Egyptian mummies.

    Early efforts to reduce human-mosquito contact in Egypt began in the 1920s when the country prohibited the cultivation of rice and agricultural crops near homes. With most of Egypt’s population living along the banks of the Nile River and malaria prevalence as high as 40%, the country designated malaria a notifiable disease in 1930 and later opened its first malaria control station focused on diagnosis, treatment and surveillance.

    “Today, Egypt has proven that with vision, dedication, and unity we can overcome the greatest challenges. This success in eliminating malaria is not just a victory for public health but a sign of hope for the entire world, especially for other endemic countries in our region. This achievement is the result of sustained, robust surveillance investments in a strong, integrated health system, where community engagement and partnerships have enabled progress. Furthermore, collaboration and support to endemic countries, such as Sudan, remain a priority,” said Dr Hanan Balkhy, WHO Regional Director for the Eastern Mediterranean.

    By 1942, malaria cases in Egypt had spiked to more than 3 million as a result of World War II population displacement, the disruption of medical supplies and services, and the invasion of Anopheles arabiensis, a highly efficient mosquito vector, among other factors. Egypt succeeded in controlling the malaria outbreak through the establishment of 16 treatment divisions and the recruitment of more than 4000 health workers.

    The construction of the Aswan Dam, completed in 1969, created a new malaria risk for the country, as standing water produced breeding grounds for mosquitoes. Egypt, in collaboration with Sudan, launched a rigorous vector control and public health surveillance project to rapidly detect and respond to malaria outbreaks.

    By 2001, malaria was firmly under control and the Ministry of Health and Population set its sights on preventing the re-establishment of local malaria transmission. Egypt rapidly contained a small outbreak of malaria cases in the Aswan Governorate in 2014 through early case identification, prompt treatment, vector control and public education.

    Malaria diagnosis and treatment are provided free-of-charge to the entire population in Egypt regardless of legal status, and health professionals are trained nationwide to detect and screen for malaria cases including at borders. Egypt’s strong cross-border partnership with neighbouring countries, including Sudan, has been instrumental for preventing the re-establishment of local malaria transmission, paving the way for the country to be officially certified as malaria-free.

    SOURCE
    World Health Organization – Regional Office for the Eastern Mediterranean

     

  • Creating jobs for African refugees in the Information Technology (IT) sector in Italy

    Creating jobs for African refugees in the Information Technology (IT) sector in Italy

    International Trade Centre
    NEWS UPDATE
    Creating jobs for African refugees in the Information Technology (IT) sector in Italy
    The initiative recognizes the value of training and work as essential tools to restore dignity and confidence to those who have had to leave everything behind
    GENEVA, Switzerland, October 18, 2024/ — A project led by the UN Refugee Agency and the Accenture Foundation v , Italy, launches “ReadyForIT: Labour Pathways for Refugees”, a pilot that helps place refugees from Africa in the local IT job market in Italy – with ITC support.

    Through  Work Corridors for Refugees, refugees with professional skills are now given the opportunity to enter Italy with a valid work visa.

    Twenty-five refugees from various sub-Saharan countries currently hosted in Uganda, are the first to benefit from a new pilot project called “ReadyForIT – Labour Pathways for Refugees” launched by the UN Refugee Agency UNHCR and Accenture Foundation, Italy, together with a large consortium of partners.

    With a background in information technology (IT), they have been selected to participate in an online training that enables them to acquire software programming skills through Java and SQL, and to learn Italian. After passing a final test, they will safely and formally migrate to Italy with a work contract in the IT sector, hired by the following companies: Accenture, Aubay, Btinkeeng, Gruppo SCAI, OverIT, Reale ITES and Valuetech.

    According to UNHCR, to date, more than 120 million people worldwide have been forced to leave their homes due to conflict, persecution and human rights violations.  Very often, in the first host country, refugees do not find the opportunities to rebuild their lives with dignity and are forced to migrate by facing long and dangerous journeys.

    The initiative recognizes the value of training and work as essential tools to restore dignity and confidence to those who have had to leave everything behind. Through the Work Corridors for Refugees, refugees’ skills potential is matched with the need for workers in Italian companies, generating mutual benefit.

    The International Trade Centre (ITC) supports this initiative by having identified the local partner in Uganda, Refactory, to prepare the candidates for their technical interviews with employers while complementing their IT training delivered by DevelHope with onsite tech coaching and in person training on Java. It is part of ITC’s Refugees & Trade Programme that helps build a conducive ecosystem in support of refugees, displaced populations and host communities and unlocks economic opportunities and jobs.

    Refactory is an academy focusing on reskilling African tech talents. In just a few years, Refactory has equipped more than 500+ learners with the skills needed to pursue a tech career of their choice with 80% employment rate.

    UNHCR is planning to extend training programmes and work corridors to Italy for refugees in Egypt and Jordan in the shipbuilding and goldsmith sectors by the end of this year.

    Distributed by APO Group on behalf of International Trade Centre.

     

    SOURCE
    International Trade Centre

     

  • Japan boosts African Development Fund with Japanese yen (JPY) 51.67 billion concessional loan

    Japan boosts African Development Fund with Japanese yen (JPY) 51.67 billion concessional loan

    African Development Bank Group (AfDB)
    NEWS UPDATE
    Japan boosts African Development Fund with Japanese yen (JPY) 51.67 billion concessional loan
    Additional resources to drive much-needed development in Africa’s least-developed and fragile countries

     

    TOKYO, Japan, October 17, 2024/ — The African Development Bank Group (www.AfDB.org) and the Japan International Cooperation Agency (JICA) have signed a landmark 51.67 billion Japanese yen (US$421 million) concessional donor loan (CDL) agreement towards the African Development Fund.

    The loan, pledged by the Japanese government at the 16th general replenishment of the resources of the African Development Fund in December 2022, will support much-needed development in Africa’s least developed and fragile countries. The country is a top donor to the African Development Fund, having contributed the largest loans to the 14th, 15th and 16th replenishments of the Fund.

    Present at the signing ceremony on Tuesday 15 October, Deputy Vice Minister Daiho Fujii of the Finance Ministry expressed optimism that Japan’s concessional donor loan, together with grant contributions, would support African countries to address various challenges relating to climate change, lack of infrastructure, fragility, regional integration, private sector development, and debt management and transparency.

    “Through fruitful discussions, we reaffirmed that the African Development Fund has been playing a significant role in supporting low-income countries in Africa through its concessional loans and grants. We commit to working together toward a successful ADF-17 replenishment discussion next year,” Fujii said.

    Japan and other donor countries met in Cotonou last week to review the progress made against operational priorities and policy commitments at the midpoint of the ADF-16 period that ran from 2023 to 2025. Fujii congratulated the African Development Bank Group on the successful mid-term review of the 16th cycle of ADF.

    African Development Bank Group President Dr Akinwumi Adesina, who is marking his fifth visit to the Asian nation, commended Japan’s government for its unwavering support.  He expressed the Bank Group’s appreciation for Japan’s broader partnership, particularly through JICA’s Enhanced Private Sector Assistance for Africa initiative – an innovative multi-component framework for resource mobilisation and development.

    Adesina said:  “We wouldn’t have had a successful ADF-16 replenishment without Japan’s continued support for concessional donor lending.  It is important to sign these agreements, but it is the lives we touch that matter.  We deliver what we promise. We keep our word”.

    He highlighted the significant impact of projects completed under the African Development Fund. “This year alone, 500,000 people have been connected to electricity, one million provided with water and sanitation, 2.5 million to improved transport, and 2.7 million to health services.”

    In her speech, JICA Executive Senior Vice President Katsura Miyazaki described the signing ceremony as symbolic.

    She said: “African countries are facing multiple crises. Rising energy and food prices, supply chain disruptions, and worsening debt sustainability are having a serious impact on African countries. The African Development Fund is critical to addressing these challenges.

    Japan’s journey with the African Development Fund  

    The African Development Fund (ADF), the concessional lending window of the Bank Group was established in 1972 and became operational in 1974.

    Japan joined the Fund in June 1973 and has contributed to all its replenishments, significantly increasing its contributions over time.

    Over the past 50 years, the ADF has played a pivotal role in providing concessional resources and knowledge services to low-income African countries, consistently demonstrating clear value for money. The ADF delivers transformative ideas and catalytic financing to these countries, including those in fragile situations. As a major source of financing, the ADF’s operations are efficient and deliver a strong development impact, cementing its reputation as a trusted and strategic partner for its stakeholders.

    Japan’s critical role in supporting the ADF was underscored by its extension of the largest concessional donor loan contributions to both ADF-15 and ADF-16, as well as the largest bridge loan provided to ADF-14. The Mid-Term Review (MTR) of ADF-16, successfully concluded in Cotonou in October 2024, highlighted several key achievements.

    Distributed by APO Group on behalf of African Development Bank Group (AfDB).

    Click here for photos. https://apo-opa.co/3A4PWkw

    Media contact:
    Emeka Anuforo
    Communications and External Relations Department
    media@afdb.org

    About the African Development Bank Group:
    The African Development Bank Group is Africa’s premier development finance institution. It comprises three distinct entities: the African Development Bank (AfDB), the African Development Fund (ADF) and the Nigeria Trust Fund (NTF). On the ground in 41 African countries with an external office in Japan, the Bank contributes to the economic development and the social progress of its 54 regional member states. For more information: www.AfDB.org

    SOURCE
    African Development Bank Group (AfDB)

  • Government of Nigeria, IOM and Switzerland Partner to Strengthen Migration Governance

    Government of Nigeria, IOM and Switzerland Partner to Strengthen Migration Governance

    Government of Nigeria, IOM and Switzerland Partner to Strengthen Migration Governance

    Nigeria Immigration Service and IOM officials pose after the project’s inception meeting held in Abuja in October 2024. Photo: IOM/Oluwafemi Iselowo 2024.

    Abuja – The International Organization for Migration (IOM) is launching a new programme in partnership with the Governments of Nigeria and Switzerland to enhance migration governance including border management across the country. 

    Spanning 24 months, the new programme will bolster the partnership between IOM and the Nigeria Immigration Service (NIS), supporting the assessment of three of the country’s key airports (Nnamdi Azikiwe International Airport (NAIA) Abuja, Port Harcourt International Airport (PHIA) Rivers, and Murtala Mohammed International Airport (MMIA) Lagos), the training of border officials in migration data management, and the deployment of key infrastructure to enhance border governance across the country.  

    “Today’s meeting signals the beginning of a project that promises to deliver a long-lasting impact on our national security infrastructure with the general support of the Swiss Government and the technical expertise of IOM which will focus on key areas including improved MIDAS data integration, forensic document examination and capacity building for our border personnel”, said Assistant Comptroller General ACG C.N Onuora, during the project’s inception meeting held in Abuja on 15 October.


    Participants during the project inception workshop. Photo: IOM/Oluwafemi Iselowo 2024

    “This project builds on the successes of previous initiatives such as the deployment of mobile MIDAS units at Seme border and the training of NIS officers on the use of forensic document examination tools. It is important to emphasize that this project is not just about upgrading our infrastructure and technology but also about equipping our officers with skills and knowledge to effectively combat transitional organized crime, enhance migration management and safeguard our borders”, she added.   

    “We are excited to be here to announce the launch of the border management project and our involvement in expanding the MIDAS network within Nigeria”, said Mrs. Ojoma Ali who represented the Swiss Secretariat for Migration (SEM) at the project inception meeting.

    Since 2015, IOM has been a key technical partner of the Nigeria Immigration Service (NIS) in strengthening migration governance, including through data collection, immigration and border management. This partnership has enabled the Government of Nigeria to adopt the Migration Information and Data Analysis System (MIDAS) as the country’s primary Border Management Information System. The MIDAS is integrated into the national ICT architecture thereby forming a centralized operational database at the international airports in the country.  

    “Robust partnerships are essential to harness the full potential of human mobility and strengthen migration governance”, said Stephen Matete, Senior Programme Manager for Immigration and Border Governance with IOM. “We are thrilled to continue this partnership with the Nigeria Immigration Service guided by the leadership of the CGI, to enhance border governance”

    In addition to the infrastructural assessments and evaluations, the project will contribute to improving the capacities of NIS and border officials in forensic document examination though targeted trainings.

    **

    For further information, please contact François-Xavier Ada-Affana, Media and Communications Officer. Email: fadaaffana@iom.int.

  • Yellow Card Closes US$33M Series C Funding Round Led by Blockchain Capital to Further Accelerate Growth

    Yellow Card Financial
    NEWS UPDATE:
    Yellow Card Closes US$33M Series C Funding Round Led by Blockchain Capital to Further Accelerate Growth
    The round, led by Blockchain Capital, brings Yellow Card to US$85 million in completed equity financings

    JOHANNESBURG, South Africa, October 17, 2024/ — Yellow Card (https://YellowCard.io), the largest and first licensed Stablecoin on/off ramp on the African continent, today announced the closing of its Series C financing. The US $33 million equity financing was led by Blockchain Capital, with participation from Polychain Capital, Third Prime Ventures, Castle Island Ventures, Block, Inc., Galaxy Ventures, Blockchain Coinvestors, Hutt Capital, and Winklevoss Capital.

    This financing marks a significant milestone for the company and the African FinTech industry as a whole, as it validates the vision and progress for stablecoins on the continent and practical applications for the technology worldwide.

    “This fundraise not only demonstrates our resilience, but also highlights the vital role of digital assets for businesses across Africa,” said Chris Maurice, CEO and co-founder of Yellow Card. “We are excited about the opportunities, partnerships, and journey ahead; and I’m proud to work with an incredible cohort of investors that share our vision for the industry and the continent.”

    Since its launch in Nigeria in 2019, Yellow Card has established itself as a pioneering force in the industry, with operations spanning 20 African countries and over US$3 billion in transactions facilitated across the continent.

    This newly secured capital will be applied to fund growth and expansion, particularly through enhancing Yellow Card’s API and widget products — the gateways for international businesses (including Coinbase (https://apo-opa.co/405SQjq) and Block (https://apo-opa.co/405SQjq) to tap into African markets and for Pan-African companies to easily make international payments and manage their treasury via stablecoins. Additionally, Yellow Card is developing innovative new products for the continent, strengthening its team and systems, and continuing to lead engagement with regulators across the continent.

    This financing reflects the level of confidence expressed in the business by both new and existing investors.

    “The future of payments lies in fast, affordable rails for everyone, powered by open networks,” said Aleks Larsen, General Partner at Blockchain Capital, the lead investor in Yellow Card’s Series C financing. “We couldn’t be more excited to back Yellow Card as they bring Africa on-chain with stablecoins.”

    Yellow Card remains steadfast in its commitment to empowering the continent by making it easy for businesses of all sizes to make international payments, manage their treasury, and access hard currency liquidity via stablecoins.

    Distributed by APO Group on behalf of Yellow Card Financial.

     

    For more information contact:
    Rutendo Nyamuda
    Brand Communications Manager
    Email:rutendo@yellowcard.io

    About Yellow Card:
    Yellow Card is the largest and first licensed Stablecoin on/off ramp on the African continent, providing individuals and businesses of all sizes across 20 countries with secure and cost-effective methods to buy and sell USDT, USDC, and PYUSD via their local currency, directly and through its payments API. Yellow Card has facilitated over US$3 billion in transactions across Africa and completed US$85 million in equity financings. The company’s investors include Blockchain Capital, Polychain Capital, Valar Ventures, Third Prime Ventures, Coinbase Ventures, Block (Square / Cash App), Castle Island Ventures, Blockchain Coinvestors, Galaxy Ventures, Hutt Capital, and Winklevoss Capital.

    About Blockchain Capital:
    Blockchain Capital is the earliest and one of the most active venture investors in the blockchain industry. They have partnered with some of the best founders in crypto since its inception. Founded in 2013, the company invests in both equity and crypto assets and is a multi-stage investor. Blockchain Capital believes that blockchain technology holds the promise to disrupt legacy businesses, create whole new markets and business models, and change the world in profound ways.

  • Tanzania: Address Rights Ahead of Local Elections

    Tanzania: Address Rights Ahead of Local Elections

    Human Rights Watch (HRW)
    NEWS UPDATE
    Tanzania: Address Rights Ahead of Local Elections
    End Crackdown; Ensure Prompt, Impartial Investigations of Abuses
    NEW YORK, United States of America, October 16, 2024/ — The Tanzanian government should take urgent steps to reverse the deteriorating human rights situation in the country ahead of forthcoming local elections in mainland Tanzania on November 27, 2024, Human Rights Watch said today.

    Since June, the authorities have arbitrarily arrested hundreds of opposition supporters, imposed restrictions on social media access, banned independent media, and have been implicated in the abduction and extrajudicial killing of at least eight government critics.

    “The Tanzanian authorities have shown increasing intolerance for free speech by clamping down on their critics and the political opposition,” said Oryem Nyeko, senior Africa researcher at Human Rights Watch. “The government should urgently stem the tide of repression or risk escalating an already tense political environment.”

    On June 23, four unidentified men in civilian clothes abducted Edgar Mwakabela, a social media commentator known as Sativa, in Dar es Salaam. Mwakabela said the abductors took him to Oysterbay Police Station in Dar es Salaam, where they interrogated him overnight while he was handcuffed about his role in mobilizing a traders’ boycott and his relationship with political opposition leaders.

    The next day, the police drove Mwakabela to a police station in Arusha, where they beat him over several hours. Four days after abducting him, they shot him in the jaw and dumped him in a swamp in Katavi National Park, 1,000 kilometers away.

    On July 15, police confirmed they had detained Kombo Mbwana, an official of the main opposition party, the Party for Democracy and Progress (Chama Cha Demokrasia na Maendeleo, Chadema), in Handeni district, Tanga region, after his disappearance on June 15. The authorities brought charges against him on July 16 for allegedly failing to provide sufficient information regarding his SIM card account, under section 126 of the Electronic and Postal Communications Act.

    Mbwana’s detention without charge for 30 days after his family reported his disappearance far exceeds the 24-hour limit required by law, constituting an enforced disappearance. On September 5, a court denied Mbwana bail, and he remains in detention pending trial.

    Chadema has reported the apparent enforced disappearance of at least two additional officials, including Dioniz Kipanya, an official in Sumbawanga district, Rukwa region, reported missing on July 26, and Deusdedith Soka, a youth leader whom a group of men reportedly abducted on August 18 alongside his secretary, Jacob Godwin Mlay, and Frank Mbise, a motorcycle taxi driver.

    A week earlier, police had arrested and released Soka alongside hundreds of Chadema supporters and several journalists, ahead of an International Youth Day celebration organized by the party in Mbeya.

    On August 2, Shadrack Chaula was reported missing by his family, one month after his conviction  for “insulting” President Samia Suluhu Hassan and burning a photo of her in a video posted on his TikTok account. Chaula has been released on July 8 after paying the court-imposed fine.

    On September 7, the body of Ali Mohamed Kibao, a Chadema party official who was reported missing a day earlier, was found beaten and doused with acid. President Suluhu Hassan ordered an investigation, but no arrests have been made.

    The authorities have also cracked down on those raising concerns about these enforced disappearances, Human Rights Watch said.

    In August, after Chadema announced a rally in Dar es Salaam to protest the government’s inaction following the abduction of its supporters, the police banned the demonstrations, threatening to “deal with” people who did not comply. On September 23, police arrested and later released on bail the party leaders Freeman Mbowe and Tundu Lissu, as well as other party members, ahead of the planned rally.

    In early September, the monitoring organization Netblocks confirmed that Tanzania had restricted access to the social media platform X. The site was blocked as Tanzanians engaged in social media discussions around the disappearances.

    On October 2, the Tanzania Communications Regulatory Authority suspended the online license of Mwananchi Communications Ltd, the publisher of Tanzania’s primary English and Swahili newspapers, after it published an animated video depicting President Suluhu Hassan watching news reports about the abductions. The authority claimed the video “threatens and is likely to affect and harm national unity and social peace” in Tanzania.

    These oppressive measures mirror the pre-election climate ahead of the October 2020 general elections, when there was a marked deterioration in freedoms of expression and association and other human rights. The authorities arbitrarily arrested scores of opposition party leaders and supporters, suspended media outlets, censored mobile phone communications, and blocked social media.

    On the eve of those elections, police fired live ammunition into crowds in Zanzibar, killing at least nine people, while security forces, alongside a government-aligned militia, beat and harassed residents and arbitrarily arrested opposition supporters, detaining and torturing them for weeks. The next general elections are scheduled for late 2025.

    President Suluhu Hassan, who assumed office following the death of President John Magufuli in March 2021, took some initial measures to respond to rights concerns and to open up the space for the political opposition and media. The Tanzanian authorities, however, have yet to seriously investigate or prosecute anyone for those abuses, especially in Zanzibar.

    “At this critical time, the Tanzanian authorities should take urgent steps to uphold human rights and ensure that the forthcoming elections are free and fair,” Nyeko said. “President Samia Suluhu Hassan should ensure a prompt and impartial investigation into the disappearances of her critics and put an end to the ongoing clampdowns on her political opponents and independent media.”

    Distributed by APO Group on behalf of Human Rights Watch (HRW).

     

    SOURCE
    Human Rights Watch (HRW)

  • Three Winners Announced at the United States (U.S.)-Tanzania Tech Challenge   Launched in June, the U.S.-Tanzania Tech Challenge sought innovative solutions to promote information integrity, fostering greater participation and involvement in civic activities

    Three Winners Announced at the United States (U.S.)-Tanzania Tech Challenge Launched in June, the U.S.-Tanzania Tech Challenge sought innovative solutions to promote information integrity, fostering greater participation and involvement in civic activities

    U.S. Embassy in Tanzania
    News Update
    Three Winners Announced at the United States (U.S.)-Tanzania Tech Challenge
    Launched in June, the U.S.-Tanzania Tech Challenge sought innovative solutions to promote information integrity, fostering greater participation and involvement in civic activities
    DAR ES SALAAM, Tanzania, September 20, 2024/ — Three organizations, Jamiii Forums, Smart Foundry Ltd., and The Launchpad Tanzania were today named the winners of the U.S.-Tanzania Tech Challenge, which brought together leading technologists, government officials, civil society, academia, and media professionals to address critical challenges and explore innovative solutions in the realms of civic participation, media literacy, and information integrity.

    Through the program, Jamii Forums will receive US$100,000, Smart Foundry will receive US$80,000, and The Launchpad will receive US$70,000.

    Guest of Honor Jerry Silaa, Minister of Information, Communication, and Technology, provided opening remarks at the event, which was also attended by Michel Toto, UNESCO Head of Office, U.S. Deputy Chief of Mission Andrew Lentz, and Daniel Kimmage, Principal Deputy Coordinator of the Global Engagement Center.

    “Partnering like we are today – government officials, private sector entrepreneurs, tech innovators, and consumers – can inspire the next great innovation and collaborative effort to shape our shared future,” said U.S. Ambassador to Tanzania Dr. Michael A. Battle. “Together we can strengthen the free and open global information infrastructure.”

    Launched in June, the U.S.-Tanzania Tech Challenge sought innovative solutions to promote information integrity, fostering greater participation and involvement in civic activities, and strengthen the skills and knowledge necessary to navigate and interpret information in the digital age.

    More than 100 entries were received and evaluated, and eight finalists were selected. These eight finalists then presented how their technologies can tackle pressing issues in the information space to a panel of judges from the United States and Tanzania on September 18.

    On September 19, finalists, participants, business and technology leaders, and government officials gathers to engage in a series of meaningful panel discussions and presentations centered around the themes of the Tech Challenge, as well as discussing the future of technology in Tanzania, the influence of artificial intelligence, and how to monetize and gain access to capital for technology businesses.

    Distributed by APO Group on behalf of U.S. Embassy in Tanzania.

     

    SOURCE
    U.S. Embassy in Tanzania

     

  • Untitled post 2882
    International Monetary Fund (IMF)
    News Update:
    International Monetary Fund (IMF) Reaches Staff-Level Agreement on a New 38-Month Extended Credit Facility Arrangement with Sierra Leone and Completes 2024 Article IV Mission
    The staff-level agreement is subject to approval by the IMF’s Management and Executive Board
    WASHINGTON D.C., United States of America, September 20, 2024/ — IMF staff and the Sierra Leonean authorities have reached a staff-level agreement on economic policies and reforms that could be supported by a new 38-month Extended Credit Facility (ECF) arrangement, with requested access of SDR 187 million (about US$253 million); The ECF would support restoring stability through continued macroeconomic adjustment to address debt vulnerabilities, reduce inflation, and rebuild international reserves; bolster inclusive growth and poverty reduction through structural reforms and targeted social spending; and revitalize the reform agenda to strengthen governance and institutions – all advancing the poverty reduction and growth aspirations outlined in the country’s Medium Term National Development Plan (MTNDP) 2024-30; The Article IV consultation focused on fiscal and debt sustainability, monetary policy operations, drivers of inflation, external sector stability, trade facilitation, macroeconomic implications of gender inequality, climate-related risks, and the adequacy of social policies.

    An International Monetary Fund (IMF) mission, led by Mr. Christian Saborowski, visited Sierra Leone from September 4 to 13, 2024, to conduct the 2024 Article IV consultation and discuss with the Sierra Leonean authorities economic and financial policies that could be supported by a new 38-month ECF arrangement, with requested access of SDR 187 million (about US$253 million). The staff-level agreement is subject to approval by the IMF’s Management and Executive Board.

    Today, Mr. Saborowski made the following statement:

    “A new economic team took over last year and has since taken bold measures to tackle Sierra Leone’s macroeconomic imbalances including a severe cost-of-living crisis. The authorities reduced the domestic primary deficit by 2.8 percent of GDP in 2023 and are on track toward reducing it by another 2.1 percent this year. They also tightened monetary policy sharply by reducing year-on-year base money growth from a peak of 63.4 percent in June 2023 to 8.8 percent in June 2024, and raising the policy rate by 7.25 percentage points since end-2022.

    “The reform momentum has borne fruit. Inflation declined to 25 percent in August 2024, down from a peak of 55 percent in October 2023, and the sharp exchange rate depreciation experienced in 2022 and early 2023 was arrested. However, T-bill rates remain stubbornly high at over 40 percent, international reserves have fallen to less than two months of imports, and the electricity distribution company (EDSA) continues to make losses, resulting in significant fiscal pressures.

    “Economic growth reached more than 5 percent in 2022 and 2023, buoyed by strong mining activity. Sierra Leone’s public debt continues to be assessed as sustainable but at high risk of distress, while its external position in 2023 is assessed as broadly in line with the level implied by fundamentals and desirable policies.

    “The new ECF arrangement would aim to (i) restore stability by bolstering debt sustainability, addressing fiscal dominance, bringing down inflation, and rebuilding reserves; (ii) support inclusive growth through reforms—including to narrow gender gaps—and targeted social spending; and (iii) confront corruption, as well as strengthen governance, institutions, and the rule of law. These objectives would advance the poverty reduction and growth aspirations outlined in Sierra Leone’s Medium Term National Development Plan (MTNDP) 2024-30.

    “Restoring stability in the Sierra Leonean economy will require a continued ambitious macroeconomic adjustment over the program period. Enhancing revenue mobilization, boosting spending efficiency, and managing fiscal risks will be critical to make room for priority spending on social policies and investment. Strengthening the monetary policy framework and maintaining appropriately tight monetary conditions will be important to safeguard internal and external stability.

    “Making durable progress in fighting poverty and raising standards of living will require a commitment to reform, sustained political and social consensus, and well-targeted social policies. Promoting gender equality and increasing women’s economic participation are crucial to boosting Sierra Leone’s growth potential. So too are reforms to enhance the business environment by improving EDSA’s operational and technical efficiency, strengthening customs administration and transparency, and addressing climate change risks. Guided by the MTNDP 2024-30, steadfast progress in addressing these challenges will be critical.

    “The staff team is grateful to the authorities for the open and productive discussions. The team met with President Bio, Finance Minister Bangura, Deputy Finance Ministers Alie and Kalokoh, Financial Secretary Dingie, Bank of Sierra Leone (BSL) Governor Stevens, Deputy Governors Tucker and Sesay, Commissioner General Bangura of the National Revenue Authority, and senior government and BSL officials. The mission also had fruitful discussions with representatives from the private sector and development partners.”

    More information about ECF: Extended Credit Facility

    Distributed by APO Group on behalf of International Monetary Fund (IMF).

     

    SOURCE
    International Monetary Fund (IMF)

     

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