Business, Malawi

“ESCOM-EGENCO electricity saga beckons legal redress”-CARE

Maravi Post Reporter

By Dorica Mtenje

LILONGWE-(MaraviPost)-The Civil society that fight for people’s economic independence, the Citizens Advancement for Economic Revolution (CARE) has described the Electricity Supply Corporation of Malawi (ESCOM) plans to claim payments of the electricity token from customers in the MK60 billion electricity token reselling syndicate involving the corporation and Electricity Generation Company Malawi Limited (EGENCO) employees as economic sabotage.

CARE Executive Director Fredrick Billy Malata

Recently ESCOM complained that it is losing billions of kwachas through the reselling of electricity tokens.

Speaking on the matter CARE Executive Director Fredrick Billy Malata said that the blame game between ESCOM and EGENCO will not bear tangible results, saying that the issue need disciplinary actions of the employees from both institutions.

Malata added that ESCOM decision to reclaim the electricity units from the customers is uncalled for, as this is an internal issue that calls for disciplinary actions of the concerned individuals rather than pushing the blame to other people.

“We understand that ESCOM is planning to claim electricity units that were sold to the customers. This is an internal issue that need to be addressed administratively rather than pushing the blame to the innocent customers”, he explained.

Malata has since urged ESCOM to reverse it’s plans to claim electricity tokens from customers adding that the grouping will seek legal action on the matter should the state electricity supplier continue with it’s decision.

“ESCOM Should not continue with it’s decision to claim payments of Electricity units from customers,if the decision will not be reversed,CARE will no have choice but to seek legal redress on the matter”, he said.

Individuals and companies alleged to have been benefited from the electricity reselling scandal among include Kips and Galitos restaurants as well as Mangochi South West parliamentarian Shadrick Namalomba.

Malawi, Politics

Angry youths stone helicopter ferrying Kenya’s opposition leader Raila Odinga

Angella Semu

NAIROBI-(MaraviPost)- A plane carrying the opposition leader in Kenya, Raila Odinga, was stoned with by rowdy youths in Kabenes, Uasin Gishu County on Friday.

The leader of Orange Democratic Movement (ODM), Odinga, confirmed the news in a statement issued immediately after the attack.

“In the event that took place at Kabenes in Uasin Gishu, youths attacked my plane, destroying the air shield with rocks that were clearly aimed at me. On my way to the plane, they had pelted my vehicles with stones. I thank the security officers who did everything to ensure our safety,” read part of the statement.

Helicopter stoned

The incident took place when Odinga and other leaders allied attended the burial of businessman, Mr. Jackson Kibor, in the area Star reported.

According to Suna-East Member of Parliament, Junet Mohamed, who was one of the leaders on board, the attack was organized by political rivals who mobilized, armed and paid the youths to cause mayhem and disorder.

In his remarks, Uasin Gishu County Commander, Ayub Gitonga, said no arrests have been made so far but they have launched investigations into the incident.

Kenya will hold general elections on 9 August 2022, where voters will elect the president, members of the National Assembly and Senate, and various other positions.

The months before and after, elections have been the most violent periods in Kenya’s since 1992. The least violent presidential polls have been in 2002 and 2013.

In 2017, at least 37 people, including three children, were killed in the protests that followed the announcement of the elections result in the country.

Lifestyle

More than 400 civilians reported dead as a result of fighting in Mali

Maravi Post Reporter

The UN’s Office for the Coordination of Humanitarian Affairs, Ocha, have announced that violence in northern Mali has led thousands of people to seek refuge in neighbouring Niger.

According to the UN, citing security sources, more than 400 civilians are reported to have been killed during the fighting.

The majority of refugees are settling in localities in the Tahoua region, accoridng to Ocha. Some are already receiving assistance from the World Food Programme (WFP).

Behind the crisis is the deteriorating humanitarian context coupled with a food crisis.

Niger, particularly its western part, is hit by a serious food crisis caused by drought and jihadist violence that has prevented farmers from cultivating their fields, according to the UN and the Nigerien authorities.

Since 2017 that armed groups linked to Al-Qaeda and extremists Islamic State have been active in the region.

In 2021, suspected jihadists committed the worst massacres of civilians in Niger: in January 2021, 100 people were killed in two villages in Tillabéri and in March, 141 were massacred in several villages and camps in Tahoua.

After the Tahoua killings, the government closed a site housing some 20,000 Malian refugees in Intikane, accused of being a hideout for jihadists.

Source: Africanews

Business, Development

The African Development Fund: 50 years of making a difference

Maravi Post Reporter

The African Development Fund, the concessional financing window of the African Development Bank Group, is turning 50!

Five decades after its establishment, the African Development Fund continues to play a key role in improving the lives of millions of people across Africa. Established in 1972 and operational in 1974, the Fund provides low-income African countries, including those in fragile situations, with catalytic finance via grants, guarantees mechanism and concessional loans, .

The Fund also offers transformative knowledge services, technical assistance and capacity building to support programs and projects that reduce poverty and bolster socioeconomic development in targeted countries.

The Fund has cumulatively invested $45 billion across the African continent, implementing around 2,800 projects across various sectors, including quality infrastructure and integration, gender, climate change, governance, private sector development and resilience, making a difference in the lives of millions and demonstrating clear value for money.

The development impact of the African Development Fund’s operations underscores its relevance to the continent’s most vulnerable countries, and highlights its role as a trusted and strategic partner to its stakeholders. A leader among its peers, in 2021 the Fund ranked second among 49 international agencies for the quality of its development assistance, according to the Center for Global Development. Today, it currently provides support to 37 eligible countries

While much has been achieved through the Fund, much remains to be done. Many African countries are at the forefront of climate change, and many will bear the brunt of a looming global food crisis. Not to mention regional integration challenges, and gender priorities. Therefore, sustained funding will be vital.

The Fund is supported by 32 donors who replenish it every three years. It is preparing for its 16th replenishment later this year, a process that will bring together donors and key stakeholders in  2022 to decide their commitments in a series of sessions.

For more information on the African Development Fund, click here.
Source African Development Bank Group

Development, Regional

Thousands escape to Uganda following violent clashes in DR Congo

Maravi Post Reporter

UNHCR, together with the Ugandan Government and partners, is assisting some 10,000 people who have found shelter in the southwest Kisoro district, after fleeing the violence which began on Monday. 

They have arrived from the DRC’s Rutchuru territory, located less than 10 kilometres from the Bunagana border crossing in Kisoro. 

“As people arrived in Uganda on 28 and 29 March, artillery fire and gunshots could be heard from across the border, indicating that clashes were ongoing. Six people arrived with gunshot wounds and were taken for treatment,” said Joel Boutroue, UNHCR’s Representative to Uganda. 

Thousands displaced in DRC 

Additionally, nearly 36,000 Congolese have been displaced within the DRC, most of whom are being accommodated by host families, or in markets and schools. 

Although security conditions are making it difficult to reach them, UNHCR and the World Food Programme (WFP) have established a joint task force to organize the delivery of humanitarian assistance. 

UNHCR and Uganda’s Office of the Prime Minister, are responding to the emergency, in coordination with district and local authorities, as well as partners. 

The agency has already relocated around 2,530 asylum seekers to the Nyakabande transit centre, located nearby. 

Mr. Boutroue reported that heavy rains have made conditions even more difficult for people who have arrived with only the few belongings they could carry.   

Many unaccompanied children 

While Uganda has currently closed the Bunagana border to trade, it remains open to asylum seekers.  Some are also entering the country through irregular border crossings. 

“We have also observed many unaccompanied children, older people and wheelchair users among those fleeing the violence,” he added. 

“Most of the new arrivals are sheltering in and around the market and elsewhere in the community. As with many previous incidents, they want to stay close to the border so they can more easily get news of what is happening in their villages, in the hope that the violence stops, and they can return home.” 

UNHCR has also established a system for identifying and fast-tracking people who need emergency assistance.  

Funding shortfall 

The agency commended Uganda for again welcoming people uprooted by violence. The country hosts more refugees than any other nation on the continent.   

This year, UNHCR will need more than $343 million to support its operations in Uganda, but so far, less than 10 per cent of funding has been received. 

Meanwhile, the humanitarian needs of more than 5.6 million internally displaced people in the DRC are also largely unmet due to lack of funding.  Operations there, which total some $224 million, are only eight per cent funded. 
Sourced from United Nations Africa Pages

Development, Environment

Reunion Insurance pairs with MUST in tree planting exercise

Maravi Post Reporter

BLANTYRE-(MaraviPost)-Reunion Insurance Company Limited in conjunction with Malawi University of Science and Technology (MUST) on Friday, April 1, 2022 was into planting trees exercise.

This is the company’s part of fulfilling its Corporate Social Responsibility (CSR) initiative at the university’s Ndata Campus in Thyolo.

Reunion Insurance in tree planting exercise at MUST

The tree planting exercise was championed under the theme, “Make MUST green Campaign”.

Speaking after the ceremony, Reunion Insurance Technical Manager responsible for Claims & Business Development, Hastings Kapesa said the company believes in adding value to the society and being a very responsible corporate citizen.

Kapesa added that Reunion uses such activities to interact positively with its customers.

“The exercise gives the company opportunity to meet our customers and the wider society by being sensitive to ecological environment and being sustainable to make sure that the future generation will also have the right to benefit from the same environment.

“We are enjoying today through fresh Air and beautifying the surrounding where all living things calls home,” he said.

Kapesa therefore cited that Reunion Insurance will continue supporting MUST in its strategic objective of establishing herbal garden.

“We will assist in innovating herbal medicine in Academy of Medical Sciences which is one of the four faculties at the university,” added.

MUST’ Dean of the Academy of Medical Sciences, Wilson Mandala stated that trees play an important role in insuring that the environment is a safe place to live.

Mandala observes that recent climate change that is causing unfamiliar winds and floods in Malawi and other Southern African countries is as a return of environmental degradation.

He added that if the trend is not controlled through tree planting activities then global warming will continue affecting human settlement lowering agriculture production.

Mandala therefore lauded stakeholders including Reunion Insurance Company for the exercise which will bring meaningful better environmental set up.

Reunion Insurance pumped in MK1,250,000 for the tree planting activity at MUST.

The tree planting exercise attracted MUST and Central High School students, Staff, Management of Reunion Insurance Company,

Almost 1,100 various species of trees have been planted along at the University’s Ndata Campus.

Reunion Insurance is a wholly owned insurance company with almost 17 years of its existence.

The firm has 11 branches across Malawi and its headquarters is at Reunion House formally Lamya House along Masauko Chipembere Highway in Blantyre.

Lifestyle

Egypt’s currency loses 17% of its value ahead of Ramadan

Maravi Post Reporter

Prices of food are going up in many countries in North Africa and the Middle East.

In Egypt as Ramadan nears and spending rises the local currency has lost 17% of its value.

“People’s joy in welcoming Ramadan is different this year as this is the second Ramadan after Covid-19. Yes some prices are rising a bit and are different from other places, but people are shopping because they are happy that Ramadan is here and that the once a year season has arrived”, said Mahmoud Khaled, a resident of Cairo.

Another resident, Dalia Amr, confirmed the increase in food prices.

“Yes, the prices might be higher but the people are shopping (for Ramadan goods) like every year because they like to do something new and be happy as they welcome Ramadan”,

Egypt is a leading importer of wheat from Ukraine and Russia. The conflict between the two countries is affecting supplies.

The authorities have started implementing ways of stabilizing the economy.

“The devaluation of the currency to the US Dollar affected us and restricted the sales, as some goods are expensive while other prices are still fine”, concluded merchant Sadat El khateeb.

The Egyptian government has already started talks at the IMF over a new assistance package, the third in six years.

Source: Africanews

Business, Development

Zimbabwe: Local firms receive boost as African Development Bank approves $7.5 million trade finance guarantee facility for Central Africa Building…

Maravi Post Reporter

The Board of Directors of the African Development Bank Group has approved a $7.5 million trade finance guarantee facility for the Central Africa Building Society (CABS) of Zimbabwe. This approval is the first for the Bank under its new transaction guarantee instrument, which was formally launched in July 2021.

The three-year tenor facility will provide guarantees of up to 100% to international confirming banks against the non-payment risk arising from the confirmation of letters of credit and similar trade finance instruments originated by the Central Africa Building Society, on behalf of its clients. The ultimate beneficiaries will be small and medium-sized enterprises and local firms, who rely on the building society to meet their trade finance needs.

Over the next three years, the facility is expected to support more than $50 million in trade between Zimbabwe and the rest of the world. Lack of adequate credit lines from international confirming banks has restricted the building society’s ability to support its clients’ growth. This facility will support the importation of critical inputs such as agro-chemicals, pesticides, farm machinery and other intermediate goods that Zimbabwe needs to revive its agricultural and manufacturing sectors.

The facility marks the African Development Bank’s third non-sovereign intervention in Zimbabwe in recent years and the second to CABS. In 2017, CABS received a $25 million trade finance line of credit, which was accessed by its various clients operating in, among other sectors, agricultural value chain out-grower schemes with smallholder producers of macadamia nuts, cotton, beef and dairy production.

“This trade guarantee facility is a strategic milestone expected to have an important demonstration effect which may prove vital to enhancing comfort to other international lenders to offer additional support to the country’s private sector,” said Stefan Nalletamby, Director of Financial Sector Development at the AfDB.

The African Development Bank Group currently supports 15 initiatives in Zimbabwe valued at $176 million. These include the rehabilitation of infrastructure in the energy, water and sanitation sectors, financed through resources from the ZimFund. The Bank also supports initiatives to improve governance and public finance management in the public sector. Other initiatives involve supporting women and youth to enable them to engage in value addition in agro-based and mining value chains. The Bank further supports Zimbabwe’s private sector through regional financial institutions that operate and invest in the country.
Source African Development Bank Group

Business, Development

African Development Bank Group President wraps up three-day visit to the UAE

Maravi Post Reporter

African Development Bank Group President Dr Akinwumi A. Adesina wrapped up an official visit to the United Arab Emirates on Friday. The three-day visit covered engagements in Dubai and Abu Dhabi.

The visit—which took place alongside the World Government Summit and the closing days of Expo 2020 Dubai—explored potential partnerships for strategic investment in Africa between the African Development Bank Group and the UAE, in renewable energy, agriculture and food production.

His Highness Sheikh Maktoum Bin Mohammed Al Maktoum, Dubai’s Deputy Ruler, Deputy Prime Minister and Minister of Finance of the United Arab Emirates, and the African Development Bank chief, discussed strategic opportunities that would strengthen economic ties between the UAE, the Bank, and Africa.

Lauding the UAE’s exceptionally visionary leadership, Adesina said: “There is a lot that Africa can draw from the UAE’s remarkable success. What the UAE has done, using its resources, its drive and determination to develop the country into what it is today is highly impressive. We are keen to see the UAE become an even more valued and significant investment partner in Africa. The UAE has been a highly valued participant in the African Development Fund, our Bank Group’s concessionary lending arm supporting low-income countries since 1978. Hopefully, we may at some point be able to welcome the UAE as a member of the African Development Bank.”

Adesina also held a raft of bilateral meetings with other senior members of government and heads of UAE parastatal companies. They included discussions with the Minister of State for International Cooperation, Her Excellency Reem Al Hashimy—who is also Managing Director of Expo 2020 Dubai—and the Minister of State for African Affairs, His Excellency Sheikh Shakhbout bin Nahyan bin Mubarak Al Nahyan.

Receiving the African Development Bank head, the Minister of State in charge of African Affairs, His Excellency Sheikh Shakhbout, spoke about the UAE’s desire to help African countries diversify their economies, provide value-added support for small and medium-sized enterprises, explore potential social housing investment opportunities, and    connect young African fintech companies to innovations that would allow them to grow and thrive on the continent.

His Highness Sheikh Maktoum Bin Mohammed Al Maktoum, Dubai’s Deputy Ruler, Deputy Prime Minister and Minister of Finance of the United Arab Emirates, and the African Development Bank chief, discussed strategic opportunities that would strengthen economic ties between the UAE, the Bank, and Africa.

The African Development Bank President and the Director General of the Abu Dhabi Fund for Development, His Excellency Mohammed Saif Al Suwaidi, also signed a memorandum of understanding for closer collaboration, on behalf of their respective institutions.

Suwaidi said: “We consider the African Development Bank to be the continent’s Think Tank. We believe that Africa is the world’s next growth frontier and we don’t want to miss that.”

Adesina and His Excellency Sultan Bin Sulayem, CEO of Dubai Ports World, the world’s largest port operator, with 78 marine and inland terminals in more than 60 countries, held substantive discussions. The Bank has actively financed port infrastructure projects in Africa. Adesina and Sulayem, discussed investment cooperation that would link African ports to renewable energy and industrial hubs including food production and agro-processing.

Equally productive discussions were held with Dr Mohamed Jameel Al Ramahi, CEO of Masdar, an innovative Abu Dhabi renewable energy company; with His Excellency Ahmed Saeed Al Calily, CEO and Chief Strategy and Risk Officer of Mubadala, a sovereign investor managing diverse portfolio of UAE and global assets; with senior officials of TAQA, a leading UAE energy company; and with the Abu Dhabi Investment Authority (ADIA).

Prominent in discussions were investment synergies between the UAE’s Etihad 7 energy initiative and the African Development Bank’s Desert to Power initiative, with a combined potential to provide 350 million people with renewable energy

As a keynote speaker at Dubai’s Annual Investment Forum and during meetings with key government, business and investment leaders, Adesina highlighted the continent’s largely untapped potential in several sectors, the bank’s unparalleled knowledge of Africa’s development and investment landscape, and the institutions risk management instruments.

The African Development Bank head extended invitations to attend the next edition of the Africa Investment Forum—Africa’s premier investment platform—in November 2022, to key leaders and institutions. The Africa Investment Forum, founded by the Bank and seven other partner institutions, has attracted over US$100 billion in investment interests into Africa since its inception in 2018.

The African Development Bank Group is Africa’s leading infrastructure investor and the continent’s only Triple A rated financial institution.
Source African Development Bank Group

Lifestyle

Here are the teams involved in the 2022 FIFA World Cup draw

Maravi Post Reporter

As the draw for the 2022 World Cup takes place on Friday in Qatar, the majority of the 32 qualifiers are already known. They will be divided into four groups of eight teams to form eight groups of four. Here is what they look like according to the updated rankings FIFA revealed on Thursday.

The World Cup draw show will take place on Friday, at the Doha exhibition and convention center starting at 4 PM GMT and will last one hour. Teams will be split into eight groups of four, with 16 advancing from the group stage.

Here are the FIFA World Cup 4 pots:

Pot 1:

Qatar

Brazil

Belgium

France

Argentina

England

Spain

Portugal

Pot 2:

Mexico

Netherlands

Denmark

Germany

Uruguay

Switzerland

United States

Croatia

Pot 3:

Senegal

Iran

Japan

Morocco

Serbia

Poland

South Korea

Tunisia

Pot 4:

Cameroon

Canada

Ecuador

Saudi Arabia

Ghana

Wales or Scotland/Ukraine

Costa Rica or New Zealand

Peru or Australia/United Arab Emirates

There will be 37 nations involved in the draw ceremony but five teams will ultimately not reach the tournament, which begins on Nov. 21.

The full lineup will not be known until at least June, when the intercontinental playoffs and the final European qualifiers are completed.

Source: Africanews

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