Adesina re-elected as President of the African Development Bank Group

Dr. Akinwumi A. Adesina has been re-elected to serve a second five-year term as President of the African Development Bank Group-AfDB on Thursday, August 27, 2020 by the Board of Governors of the Bank. A globally renowned development economist and a World Food Prize Laureate and Sunhak Peace Prize Laureate, Dr. Adesina has distinguished himself in driving a bold agenda to reform the Bank and accelerate Africa’s development. He was first elected as President of the Bank on May 28, 2015.

As newly re-elected President, Dr Adesina, a former Nigerian Minister of Agriculture, will begin his new term on September 1, 2020.

The election result, which gave him a hundred percent of votes of all regional and non-regional members of the Bank, was announced by the Chairperson of the Board of Governors of the Bank, Mrs. Niale Kaba, Minister of National Planning of Côte d’Ivoire.

Adesina's first term focused on the bold new agenda for the Bank Group based on five development priorities known as the High 5s: Light up and Power Africa; Feed Africa; Industrialize Africa; Integrate Africa; and Improve the Quality of Life for the People of Africa.

During Adesina’s first term, the Bank achieved impactful results on the lives of 335 million Africans, including: 18 million people with access to electricity; 141 million people benefiting from improved agricultural technologies for food security; 15 million people benefiting from access to finance from private investments; 101 million people provided with access to improved transport; and 60 million people gaining access to water and sanitation.

Under Adesina’s leadership, the African Development Bank’s Board of Directors approved a $10 billion facility to support African countries to address the COVID-19 pandemic. The Bank also launched a $3 billion COVID-19 social bond on the global capital markets, the highest US dollar denominated social bond ever in world history, which is listed on the London Stock Exchange, Luxembourg Stock Exchange and NASDAQ.

Adesina said, “I am deeply grateful for the collective trust, strong confidence and support of our shareholders for electing me for a second term as President. It is yet another call for selfless service to Africa and the African Development Bank, to which I will passionately devote myself.”

The African Development Bank is Africa’s premier development finance institution, comprising 54 regional and 27 non-regional member countries. “The future beckons us for a more developed Africa and a much stronger and resilient African Development Bank Group. We will build on the strong foundations of success in the past five years, while further strengthening the institution, for greater effectiveness and impacts,” Adesina said.

Source: APO

USAID HIV/AIDS initiative supported by Belemaoil in Akwa Ibom, Nigeria

As part of its efforts to deepen private sector involvement in Nigeria’s health sector, the U.S. Agency for International Development (USAID) accepted a contribution from a leading indigenous oil firm Belemaoil Producing Nigeria Limited today to support USAID’s activities to eradicate HIV and AIDS in Akwa Ibom State.

Under an agreement signed on August 13, 2020, Belemaoil will contribute to the provision of 75,000 rapid test kits to Akwa Ibom state government through USAID’s HIV/AIDS program.  The kits will specifically be used to test high risk adolescents and young women as well as children to prevent mother-to-child transmission and help health clinics improve antenatal services.

“This collaboration is a great example of USAID’s approach of engaging the Nigerian private sector to develop local solutions to address local problems,” USAID Mission Director Stephen M. Haykin said at the virtual signing ceremony today.  “This contribution to fill a critical gap in testing for HIV/AIDS in Akwa Ibom state.”

At the signing, Belemaoil Managing Director Pedro Diaz said: “This contribution is part of our corporate social responsibility commitment to Nigeria and is the start of greater engagement through reputable partners like USAID to support local communities.”

In 2019, USAID tested over 1.8 million people for HIV, and funded treatment for 96 percent of the 80,600 identified as positive.  USAID has placed 349,500 HIV-positive Nigerians on treatment and has committed to placing an additional 95,500 on lifesaving therapy, and continues to provide health agencies test kits and medicines, as well as support more than half a million children orphaned or otherwise affected by HIV.

Photo: TEIN T.S. JACK-RICH, President Belemaoil

source: APO

US suspends private charter flights to cuba

Michael R. Pompeo, US Secretary of State, has requested that the Department of Transportation suspend private charter flights to all Cuban airports, including Havana.  This action will suspend all charter flights between the United States and Cuba over which the Department of Transportation exercises jurisdiction, except for authorized public charter flights to and from Havana and other authorized private charter flights for emergency medical purposes, search and rescue, and other travel deemed in the interest of the United States.  This Administration will continue to target and cut the revenue the Cuban government earns from landing fees, stays in regime-owned hotels, and other travel-related income.

The Cuban military and intelligence services own and operate the great majority of hotels and tourism infrastructure in Cuba.  We urge travelers of all nationalities to consider this and to make responsible decisions regarding travel to Cuba.  The suspension of private charter flights will deny economic resources to the Castro regime and inhibit its capacity to carry out abuses.

Our message to the Castro regime has been clear:  The United States will continue to stand up for the Cuban people and against the regime’s abuses and its interference in Venezuela to prop up Maduro’s illegitimate hold on power.

Unfortunately, the Castro regime has not changed its repressive and undemocratic behavior.  It continues to imprison journalists and democracy activists, to oversee horrific physical abuse, to perpetuate the de facto dictatorship in Venezuela, to repress freedom of religion or belief, and to silence and intimidate those who speak truth about the reality in Cuba.

source: state department

Victor Williams named CEO of NBA Africa

The National Basketball Association (NBA) has named Victor Williams CEO of NBA Africa, effective Aug. 17, 2020, it was announced by NBA Commissioner Adam Silver. Williams, an accomplished investment banking executive with extensive experience growing businesses across the U.S. and Africa, will be based in the league’s Johannesburg office and report to NBA Deputy Commissioner and Chief Operating Officer Mark Tatum.

In this newly-created role, Williams will oversee the league’s basketball and business development initiatives in Africa and will be responsible for continuing to grow the popularity of basketball and the NBA across the continent through grassroots development, media distribution, corporate partnerships, and more.

For the last five years, Williams served as the Executive Head of Corporate and Investment Banking (CIB), Africa Regions for Standard Bank Group, where he oversaw the strategy, execution and financial performance for Standard Bank’s business with corporate, sovereign and institutional investor clients in 19 countries across sub-Saharan Africa. In this pan-continental role, Williams was responsible for growing a wide range of business lines across Africa, including global markets, investment banking and transactional products and services, and helped lead Standard Bank’s expansion into Côte d’Ivoire, Ethiopia and South Sudan.

“Adding an executive of Victor’s caliber and experience is an important step in our continued efforts to grow basketball across the continent,” said Silver. “We look forward to Victor leading NBA Africa’s operations and helping to accelerate the use of sports as an economic engine across Africa.”

“Becoming CEO of NBA Africa is a compelling opportunity to join the NBA – a widely-respected and admired, globally-oriented sports enterprise,” said Williams. “It allows me to blend my professional experience building businesses in Africa with my passion for the sport of basketball. I look forward to working with our colleagues in Johannesburg and Dakar to help grow basketball’s commercial and social impact in Africa and on the world stage.”

Williams joined Standard Bank in 2011 as Head of Corporate and Investment Banking for East Africa and subsequently led Standard Bank’s Corporate and Investment banking business in Nigeria.

Previously, he worked at Wells Fargo Securities in Charlotte, North Carolina, where he was a Managing Director focused on mergers and acquisitions. In this role, he executed more than $5 billion in merger and acquisition transactions and advised senior executives and boards of directors of corporate and private equity firms on mergers, divestitures, acquisitions, joint ventures, recapitalizations and corporate defense.

Prior to Wells Fargo Securities, Williams was Vice President of Investment Banking at Goldman Sachs in New York City, where he provided strategic guidance to Fortune 500 companies in all aspects of merger and financing analysis and execution.

Williams, a dual citizen of Sierra Leone and the U.S., holds an MBA from Harvard Business School and bachelor’s degrees in applied math and economics from Brown University. He is a member of Harvard Business School’s Africa Advisory Board and has also served on the boards of publicly-listed companies and non-profit organizations in the U.S., Nigeria and Kenya.

source: APO