JULIUS BERGER CSR LITERACY CAMPAIGN BRINGS JOY TO SCHOOLS IN LAGOS AND OGUN STATES
. Engineering construction leader donates books, writing materials to schools within Lagos Shagamu Expressway, LSE, project corridor
It was excitement galore during the week, when the nation’s engineering construction frontrunner, Julius Berger Nigeria Plc, hiked up its Corporate Social responsibility efforts by donating literary materials to students in Lagos and Ogun state schools. The effort was designed to fulfil its contributory obligations to communities in its operational environment.
At Iponri Estate Junior High School in Lagos State Wednesday, no fewer than 600 students got a bag each of the literary materials comprising writing materials and an award winning African-based science fiction and fantasy written work, What Sunny saw in the Flame authored by Nnedi Okorafor.
In applauding Julius Berger’s effort, the Vice Principal of the school, Mrs Lydia Omowumi Adenigba who stood in for the Principal said, “…we appreciate Julius Berger for this laudable effort. It has been long we saw such an effort from any organisation operating in Lagos. We will no doubt cherish this day for a long time to come. Thank you Julius Berger. We so much appreciate you”
The Head Boy of the school, Master Olatuyi Timilehin spoke in similar vein adding that, “we know Julius Berger as a construction company, building bridges and roads and houses. However, today, we have seen another good thing your company does; that is promoting education. Thank you Julius Berger for this and many more social works that you do.”
Earlier, leader of Julius Berger Team to the event and Head of the company’s Corporate Communications Department, Mr. James Agama, told the students the essence of the CSR effort. He said, “Julius Berger not only builds bridges, houses and roads. We also build the future of children by promoting the educational development of students in areas where we operate. We promote your education to prepare you for future challenges.”
Next day, at the Community High School, Ibafo, Ogun State, it was a replay of same scenario as no fewer than 650 elated students sang and danced with their respective bags containing the educational materials.
Ibafo is situated east of Magado, and east of Magboro-Shofolarin on the Lagos-Shagamu Expressway.
In his vote of thanks, Vice Principal of the school, Mr. Olaniyi Olusola thanked the company for the gesture saying, “…this is a very worthy effort by your company to uplift the education of our students. We appreciate Julius Berger; Tell your management that we will be supporting them in our prayers always.”
It would be recalled that Julius Berger’s laudable and continuing CSR Literacy Campaign also took the company’s books and writing materials donation to schools at the Federal Capital Territory Abuja recently.
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PRESIDENT BUHARI CONDEMNS MURDER OF CATHOLIC PRIEST IN KADUNA, CALLS IT HEINOUS AND DESPICABLE
President Muhammadu Buhari has strongly condemned the murder of a Catholic priest, Rev. Fr. John Cheitnum of the Kafanchan Catholic Diocese, four days after he was seized by gunmen.
Reacting to the incident in Abuja on Wednesday, President Buhari said, “I am deeply disturbed by the murder of this revered religious figure by outlaws who seem to be bent on creating chaos and disorder in the country.”
He explained that “the persistent attack on innocent people, including religious figures, by gunmen is a matter of grave concern for this administration, because security is one of the major issues of our campaign promises.”
“Let me reassure Nigerians that my commitment to this issue is as firm as ever. I have always made it a duty to regularly summon security chiefs to discuss these challenges and the way forward. I’m not allowing the security chiefs to rest unless and until we find a very effective solution to this disturbing security situation. The security of all Nigerians remains our major priority and I assure Nigerians that we are determined to crush these enemies of humanity with all the resources at our disposal,” the President declared.
He extended his condolences to the family of the deceased and Christian Association of Nigeria leadership in Kaduna State over the death of Rev. Fr. Cheitnum.
Garba Shehu
Senior Special Assistant to the president
(Media & Publicity)
July 20, 2022
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PRESIDENT BUHARI TO KASHIM SHETTIMA: I WILL RESPOND TO YOU WHEN I AM HANDING OVER TO YOU AND YOUR BOSS
President Muhammadu Buhari struck a chord of humour on Wednesday at the State House while responding to a flowery speech by Senator Kashim Shettima, the Running Mate and Vice Presidential Candidate of the All Progressives Congress, saying, “I will respond to your speech when I am handing over to you and your boss. God willing, you are going to win.”
President Buhari, who received the VP Candidate shortly after he was unveiled by the leadership of the Party and Asiwaju Bola Ahmed Tinubu, said he is very happy with the choice of the former Governor of Borno State as running mate.
“I wish you the best. Your consistency in the party is very respectful. You served your two terms as Governor and finished well. You have kept touch with your base. At every important occasion or event, you are maintaining support for the one who succeeded you. This is commendable,“ he said.
The President expressed strong optimism that the APC ticket will emerge victorious in 2023.
In his remarks, the Vice Presidential Candidate thanked the President for his “empathy, support and positive role,” leading to his emergence as Running Mate to the APC Presidential Candidate.
He praised the President for having “a special place in your heart for Borno and Northeast,” adding, “I can cite 20-30 instances of support you have rendered, for which you will be remembered.”
He mentioned the establishment of the North East Development Commission, NEDC, and the Independent Power Plant for Maiduguri by the NNPC, “after many years of darkness,” saying that “words cannot describe our appreciation of your support. We will remain eternally grateful.”
The former Governor of Borno State requested the President to appreciate his successor, Babagana Zulum who was in his company, along with the Minister of State, Agriculture, Mustapha Baba Shehuri, for spurning “recurring mention” of him and pressure from his Governor colleagues to bid for the Vice Presidential ticket.
The Candidate pledged to remain “loyal and devoted” to the President, promising that his Vice-Presidency will not be for the “troika of Hausa, Fulani and Kanuri,” but for all Nigeria, irrespective of ethnicity, religion or geographical place of origin.
Garba Shehu
Senior Special Assistant to the President
(Media & Publicity)
July 20, 2022
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PRESS RELEASE
SANWO-OLU RE-LAUNCHES LAGOS RESIDENCY CARD WITH SMART FEATURES
…State Targets 10 Million Residents For Enrollment Before December
…‘Registration Is Free, Card Useful For 28 Services’ – LASRRA Boss
The move by the Lagos State Government to generate a comprehensive database of all persons residing in the State has moved a notch higher, with the launch of an upgraded and chip-embedded smart residency card by the Lagos State Residents Registration Agency (LASRRA), on Wednesday.
Governor Babajide Sanwo-Olu personally unveiled the smart residency card at launching events held simultaneously across five locations in the State. The locations include Ikeja, Lagos Island, Badagry, Ikorodu and Epe.
The new card offered a transition from an ordinary plastic card, meant only for identification purposes, to a smart, multi-purpose ID that combines biometric identification with other benefits, such as security, financial services, transportation and access to government services and amenities.
Lagos started enrollment of its residents for residency registration in 2011 to create a reliable database to enable effective and realistic planning by the State Government, especially for the provision of social services and amenities.
Already, 6.5 million residents had been enrolled on the database by LASRRA, with the State witnessing four-fold increment in registration in the last three years.
With the launch of digitised card format, Sanwo-Olu said the State Government would be targeting to capture 10 million residents on the database before the end of the year.
This new residency ID, according to LASRRA, is a multipurpose smart card with 28 applets that make the provision of 28 services possible to the cardholders.
The Governor said: “Today’s relaunch is borne out of the need to embrace change and align with global best practices. We have upgraded the residency card from an ordinary plastic card, for identification purposes only, to a smart, multi-purpose card that combines biometric identification with other functionalities and benefits, that cuts across areas such as security, financial services, mobility and access to government services and amenities.
“Lagos experiences significant levels of daily inbound migration of people seeking economic opportunities and a better life. As a result, our population is rising rapidly, with obvious implications for social services, social infrastructure, and for security. It has become imperative for the State Government to re-examine strategies aimed at improving the security of lives and properties of the people.
“This smart residency card being launched today will help us to address the issues surrounding the identification and traceability of Lagos residents, and ultimately help inform the Government’s planning and provision of services designed to secure lives and property. The card comes with an electronic wallet, which can hold funds and be used for daily transactions to support the cashless agenda of the monetary authorities.”
Sanwo-Olu said new visitors in Lagos who planned to live in the State for more than two consecutive months were now required to register for the residency card.
The Governor said Ministries, Departments and Agencies (MDAs) would be leveraging the database to validate residents for the purpose of delivering essential services, including health insurance, pension administration, school allocation based on residential addresses, and other necessary social amenities.
Sanwo-Olu solicited for the cooperation of all residents to register and acquire the card in order to enjoy the benefits on offer, and to enable the Government to plan effectively and allocate budget for the delivery of good governance against the backdrop of the State’s growing population.
“The political will and commitment of this administration to ensure that we are delivering on our mandate effectively and efficiently has led to heavy and ongoing investment in Information Communication Technology (ICT) infrastructure on multiple fronts,” the Governor said.
Special Adviser to the Governor on Innovation and Technology, Olatunbosun Alake, said the launch of the smart residency card became another foundational layer on which the Government’s Smart City project would stand on, noting that the new card would also promote inclusion.
Explaining the details of the re-launched card, Alake said the registration procedure now came with elastic and expandable biometric interfaces to allow updates of information. He added that the card utilises industry standard security chips that prevent duplicated identities and profiles.
“We have a cloud redundancy system that allows 24 hours operations and a highly rated machine accuracy system. It has back-end cloud workload protection and two-factor authentication to make changes to information originally supplied, such as physical address,” Alake explained.
LASRRA General Manager, Engr. Ibilola Kasunmu, said the State could not afford to lag behind in the age of global digitalisation, thereby making the transition to smart residency card compelling.
She said the agency was motivated by the resolve to contribute to the overall vision of the current administration on finding innovative ways to improve on efficiency of governance and service delivery for the benefits of the people.
Kasunmu said: “We took account of certain limitations inherent in the initiative, developed an ecosystem framework with propositions to include a cost-effective approach to produce the smart ID cards for residents. We are glad to announce that we have been able to secure partnership of several private sector players on this laudable project as we needed to ensure the card remained free to the residents of the State. Residents are not expected to pay for the card.”
In endorsing the new digitised ID format, Managing Director of Sterling Bank, Mr. Abubakar Suleiman, said Lagos remained the cradle of transformation.
The high point was the symbolic presentation of the smart residency cards to the Governor and residents freshly registered by LASRRA.
SIGNED
GBOYEGA AKOSILE
CHIEF PRESS SECRETARY
20 JULY 2022
‘’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’’
July 20, 2022
Press Statement
Osun Governorship Election: PDP Savours Appeal Court Judgment on Adeleke
The Peoples Democratic Party (PDP) receives with delight, the judgment of the Court of Appeal, which affirmed the PDP Governorship Election Primary that produced Osun State Governor-Elect, Sen. Ademola Adeleke, as the rightful candidate of the PDP for the July 16, 2022 Osun State Governorship election.
The Appeal Court judgement which puts to rest all contestations regarding the validity of the Candidacy of the Osun State Governor-Elect, Sen. Ademola Adeleke, comes as further validation of the Will and aspiration of the people of Osun State which they overwhelmingly expressed on July 16.
The judgment is a firm confirmation that the Osun State governorship primary was transparently conducted by the Sen. Dr. Iyorchia Ayu-led National Working Committee (NWC) in strict compliance with the provisions of the PDP Constitution and Electoral Guidelines as provided by the Electoral Act and the Constitution of the Federal Republic of Nigeria 1999 (as amended).
Our Party commends the Judiciary for its courage adding that the judgment has further restored the confidence of Nigerians on our judicial system and the processes of the PDP.
The PDP again congratulates the people of Osun State and charges all Party stakeholders in the State to remain united behind Sen. Ademola Adeleke in his determination to institute a transparent, people-oriented and development-based government that will rebuild and revamp Osun State from the misrule of the All Progressives Congress (APC).
Signed:
Hon. Debo Ologunagba
National Publicity Secretary
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ON UNIVERSITY STRIKES, GOVERNMENT IS READY FOR BUSINESS
The outcome of the meeting held by President Muhammadu Buhari on Tuesday with relevant Ministries, Departments and Agencies (MDAs) to end the agitations by university unions ought to be beyond spin-doctoring and conjectures. It is a pity that almost all media houses allowed themselves to be deceived by interested sources that are not the authorized spokesmen of government.
Neither during nor after the meeting was any ultimatum given to the Minister of Education. During the meeting, the Minister of Education requested that the Minister of Labour hands off the negotiation to allow him lead and conclude what he had earlier on started with the Academic Staff Union of Universities (ASUU). And he promised that he could get an agreement within the shortest possible time, possibly two to three weeks.
In carrying out this assignment, the Minister will carry along all relevant ministries and agencies with statutory functions and duties relating to the issues involved.
The Presidency is optimistic that agreements can be reached in an even shorter period if all parties/stakeholders are not unrealistically obstinate. We appeal to the parties to work together to end the strikes.
On the part of the administration, all doors remain open for dialogue and the resolution of the issues.
We appeal to the media not try to spread misinformation. The orchestrated media narratives seeking to present an entirely different picture, attributed to sources, in the last 24 hours are not helpful at all.
Garba Shehu
Senior special Assistant to the President
(Media & Publicity)
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19 June 2022
Access Bank to support education with $1.7m raised at 2022 UK Charity Polo Tournament
Seeking to improve the state of education in Nigeria, Access Bank has raised $1.7 million at its Charity Polo Tournament held at The Guards Polo Club, Egham, Surrey, United Kingdom on Saturday, 16 July 2022.
The money, the Bank confirms, will be directed towards the building and equipping of over 100 classroom blocks in the less developed areas of Nigeria.
These donations, according to the Group Managing Director of Access Corporation, Herbert Wigwe, “Serve as building blocks towards achieving a brighter future for the country, while challenging the various state governments to take sustainable actions towards ensuring all boys and girls complete free, equitable and quality primary and secondary education.”
“We thank all attendees and donors for buying into our vision and assure that Access Bank will not relent in its efforts to see that every Nigerian child regardless of tribe, gender and religion is given a fair chance for a better tomorrow.”
Roosevelt Ogbonna, Managing Director of Access Bank, also added that the polo event remained the greatest investment towards ensuring a great future for the vulnerable Nigerian child.
The Polo tournament, which is executed in partnership with Fifth Chukker and UNICEF, in Kaduna, South Africa and the UK has been an extension of Access Bank’s efforts to support anti-poverty and anti-HIV/AIDS campaigns in Nigeria. This is the first edition of the UK-based tournament to be held since the outbreak of the COVID-19 pandemic.
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PRESIDENT BUHARI CONGRATULATES NEWLY ELECTED PRESIDENT OF TUC, COMRADE FESTUS OSIFO
President Muhammadu Buhari felicitates with Comrade Festus Osifo, newly elected President of Trade Union Congress of Nigeria (TUC).
The President salutes the vision and courage of the dedicated trade unionist, whose election as President of Petroleum and Natural Gas Senior Staff Association (PENGASSAN) in 2020 has translated into improved welfare and working conditions for workers.
President Buhari congratulates the leadership of PENGASSAN and TUC on the historic choice, while looking forward to a partnership that will foster more development in the country, particularly for workers.
Garba Shehu
Senior Special Assistant to the President
(Media & Publicity)
July 20, 2022
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PRESIDENT BUHARI SHOWCASES 266 ECOLOGICAL PROJECTS COMPLETED UNDER HIS WATCH, DIRECTS MDAS TO PUBLICISE ACHIEVEMENTS
A total of 266 ecological projects have been completed across the country in the last seven years (2015-2022), President Muhammadu Buhari declared Wednesday in Abuja.
Speaking at the launch of a compendium of ecological projects undertaken by this administration, the President said 332 ecological projects were approved during the period in review, out of which 266 were accomplished while the remaining 66 are at different stages of completion.
The President, who launched the publication before the commencement of the Federal Executive Council (FEC) meeting, commended the Secretary to the Government of the Federation and the Management Team of the Ecological Project Office (EPO), for the judicious use of available resources for the effective implementation of approved projects, as well as the initiative for the publication.
In order to leverage the benefits accruable to government from the commendable efforts of the EPO, and the effective communication of these efforts through the publication, the President directed Ministries, Departments and Agencies (MDAs) which have not done so to showcase their performance and achievements to the public.
‘‘The enormity of Nigeria’s ecological problems and inherited infrastructural deficit in general, has the tendency, like the proverbial drop in the ocean, to always drown our achievements in addressing ecological challenges and infrastructural deficit at large.
‘‘It is against this background that publications like the one being launched today, become very important and a useful tool in correcting the negative public perception, that government has not done anything in addressing these challenges.
‘‘The documentation and publication of these achievements in our modest effort to tackle ecological problems is therefore predicated on our quest to improve communication in governance, as a tool for keeping citizens well-informed and helping them to hold government accountable.
‘‘This is the most significant implication of the Ecological Project Office’s initiative in publishing this compendium.’’
The President noted that the Compendium, which is for the reading pleasure and knowledge of Nigerians, would bridge the information and communication gap between Nigerians and the real-time performance of this Administration by portraying the specific locations of ecological projects, with pictorial evidence as well as proofs of handing over the projects to the beneficiaries.
President Buhari urged States and Local Governments to judiciously use their shares of the ecological fund, strictly for ecological projects towards addressing the ecological problems in their areas.
Secretary to the Government of the Federation (SGF), Boss Mustapha, told the President that the 554-page publication supervised by the Permanent Secretary, EPO, Dr Habiba Lawal, is aimed at keeping the public abreast of the efforts of the administration in addressing verified ecological problems in ‘‘all the nooks and crannies of Nigeria.’’
He thanked the President for promoting the culture of accountability and for approving the change of name of Ecological Fund Office to EPO, for its mandate not to be misconstrued by the public.
‘‘The Office was established through the Federation Account Act in 1981, primarily to carry out intervention projects nationwide with the Federal Government share of the ecological funds, to address critical ecological problems to supplement States and Local Government shares of the fund.’’
On the Federal Government share of the Ecological Fund, the SGF explained that the latest sharing formula of the Ecological and Derivation Fund (EDF) as modified allocates 1.00 per cent to the Federal Government, 0.72 per cent to States while the Local Governments get 0.60 per cent.
He added that out of the 1.00 per cent of the Federal Government share, monthly the National Emergency Management Agency (NEMA) gets 20 per cent, National Agency for Great Green (NAGGW) Wall 5 per cent, North East Development Commission (NEDC) 10 per cent while the National Agricultural Development Agency (NALDA) receives 10 per cent.
Femi Adesina
Special Adviser to the President
(Media & Publicity)
July 20, 2022
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VERIFICATION COMMITTEE DISCOVERS ONDO GOVT LOSES OVER N400M TO PAYROLL INFRACTIONS
- Gov Akeredolu Receives Report, Directs Dismissal Of Officers Earning Double Salaries
- Says No Recruitment Should Be Done Till Verification Exercise Is Over
Ondo State Governor, Arakunrin Oluwarotimi Akeredolu, SAN, has directed the Head of Service to dismiss officers who are receiving double salaries from the state payroll.
Governor Akeredolu gave the directive while receiving the report of the Committee for Verification, Scrutinization and Clean-up of the State Payroll.
The Governor, who suspected that the State Payroll including salaries and pensions had been compromised, set up a seven-member committee to continuously clean up the payroll of infractions.
The committee, led by the Chairman and former Permanent Secretary of the Ministry of Finance, Mr. Victor Olajorin, on Wednesday submitted its report to the Governor at his office, Alagbaka, Akure.
Receiving the reports, Governor Akeredolu frowned at the different infractions discovered in the payroll.
He lamented the over-bloated workforce which he said was occasioned by many ghost workers.
The Governor also directed that all Ministries, Departments and Parastatals in the State should stop recruitment under any guise until the Salary Verification Committee has concluded its assignment.
“We have over-bloated workforce, and undoubtedly, I am sure there are many ghost workers. Those who are receiving double salaries, apart from recovering the money from them, I am directing the Head of Service to get them dismissed. They must serve as deterrent to others,” he said.
Governor Akeredolu appreciated the committee for doing a yeoman’s job and not compromising their integrity.
Earlier, Mr Olajorin informed the Governor that the first and major step taken by the committee was to contact the various service including the Teaching Service Commission (TESCOM), Hospitals’ Management Board (HMB), Local Government Service Commission (LGSC) among others.
He noted that the committee also obtained vital documents like the Nominal Roll, Disposition List, Pay Register and Pension Payroll so as to achieve its mandate.
“The documents were consequently scrutinized and in the process, some infractions were discovered.
“Mr Governor, permit me to inform you that our beam light was initially focused on TESCOM and some of the infractions detected were about: Officers/pensioners receiving both salary/pension, retired officers later reappointed and drawing salary/pension, officers whose salaries are hanging among others.
“Details are contained in the Volume 1 report of the Committee. In the process, a sum of N304,859,812.51 was discovered as the aggregate loss to the State Government from the above infractions.
“In furtherance of our activities, attention was shifted to the pay register of Hospital Management Board. The committee carried out on-the-spot verification for both medical and non-medical personnel in their various facilities across the state.
“The exercise led to the discovery of some unwholesome practice like abscondment, study leave without pay, payment of salaries to officers after resignation, while some officers couldn’t be traced to any health facilities.
“So far, a sum of N192,873,592 has been discovered from HMB as the total loss to the State Government. Mr. Governor, permit me to mention that the Committee has so far, identified the sum of N497,733,404 for infractions in TESCOM and HMB,” Olajorin said.
The Chairman also explained that another issue of concern found by the Committee was the lopsidedness observed in the posting of officers to health facilities at the urban centres at the detriment of the ones in the ritual areas.
Other members of the Committee are: Tope Popoola Esq; Hadj Badmos; Dr. Ola Obaado; Bola Taiwo; Kayode Edema and Lawrence Akintunde.
Richard Olatunde
Chief Press Secretary to the Governor of Ondo State.
July 20, 2022.
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United Nations, World Bank Explore Developing Sovereign Green, Social, and Sustainable Bond Market in Africa
Addis Ababa, 19 July 2022 – The United Nations Economic Commission for Africa (ECA) and the World Bank co-organized on July 19, 2022, a virtual workshop on the development of the Green, Social and Sustainable (GSS) sovereign bond market in Africa.
Innovative financing solutions are needed for countries across Africa to achieve their ambitious climate investment goals and meet the Paris Agreement commitments. In the context of prudent debt management, GSS bonds can constitute a central part of the financing strategy for sovereigns and subnational entities to fund both mitigation and adaptation investments.
Hanan Morsy, ECA’s Deputy Executive Secretary, said, “ahead of this year’s COP27 held in Egypt, Africa faces a mixed landscape for achieving climate ambitions and NDCs. We urgently need the 100 billion USD per annum promise to be realized, while we need a new financing target which will mobilize the trillions needed. GSS bonds play a critical role in tapping into resources at the international capital markets to unleash the potential of the green and blue economy in Africa. ECA is supporting member states under various initiatives, such as the Great Blue Wall, the Liquidity and Sustainability Facility, and debt-for-nature swaps, to graduate from the aid dependencies by leveraging market-based innovative finance instruments.
Global issuances of GSS debt reached $1.6 trillion in 2021. This was more than double the level in 2020, evidencing the surge in investor interest. However, Africa is not yet taking full advantage of the market.
“Less than 50 thematic bonds have ever been issued across Africa, and just five of these were from a sovereign. Sustainable finance, combined with sound debt management, represents a strategic way to raise the needed funds to respond to the pandemic in a way that also is resilient. Unlocking the potential for sovereign GSS bonds in Africa can only be achieved by clarifying market expectations and overcoming the knowledge gap. The World Bank, in coordination with ECA, is working on a capacity-building program to support clients in the region that will shed light on the opportunities of GSS market development.” said Jorge Familiar, World Bank Vice President, and Treasurer.
Jean-Paul Adam, Director, Technology, Climate Change and Natural Resources Management Division at ECA, said “Africa faces multiple challenges posed by the COVID19 pandemic, climate change, and the recent Ukraine crisis. While the ability to mobilize predictable grant resources from traditional concessional finance remains a crucial element in dealing with those challenges, the private sector can also play a conducive role to bridge the financing gaps. Currently, Africa is paying more than twice the price than countries with similar macroeconomic fundamentals. There is a need to provide Africa with affordable and stable sustainable financing, as sustainable finance markets are critical to addressing ‘Africa’s ambitions and achieving Agenda 2063 and the 2030 Agenda. ”
There is very strong interest from potential sovereign issuers of GSS bonds. In a recent World Bank Treasury survey of emerging market debt management offices (DMOs) and international investors across all regions, over 75 percent of DMOs intend to issue GSS bonds. These DMOs saw strong potential benefits of tapping the GSS bond market to diversify the investor base, signal a commitment to sustainability, build a local market to motivate private sector issuers, and attract international investors. International investors highlighted several reasons for their interest in thematic bonds, including achieving ESG impact, developing the thematic bond market, diversifying their portfolios, and serving their investors’ and shareholders’ direct business interests. The surveys show strong alignment between issuers and investors that thematic bonds can be essential instruments to finance the vast investments required to meet NDC and SDG ambitions.
“There is a great potential opportunity for sovereigns to tap investor demand for GSS assets both internationally and domestically. However, there are challenges that DMOs cited in issuing GSS bonds, including understanding the principles and standards for GSS bonds, the cost and intricacies of the issuance process, and difficulty identifying eligible expenditures and projects. At the moment, there are strong headwinds for emerging markets in the capital markets, but this may allow time to prepare and build capacity when the time is right to issue GSS bonds”, said James Seward, Senior Financial Officer at the World Bank Treasury.
During the workshop, technical experts discussed the importance of building awareness and exploring the potential issuance of GSS bonds in Africa by sovereign issuers or subnational entities. The panel focused on practical experiences in issuing GSS bonds, the challenges, and solutions for developing successful GSS bond programs. The panelists also discussed new market trends such as the inflation-linked green bond issuance from France and the Colombia local currency twin green bond issuance. Finally, participants shared on-the-ground experiences and lessons from the recent Egypt green bond and Benin SDG bond and the plans for future issuances by panel participants.
The World Bank and ECA thanked all the participants for their contribution and involvement during the workshop.
-Ends-
Issued by:
Communications Section
Economic Commission for Africa
PO Box 3001
Addis Ababa
Ethiopia
Tel: +251 11 551 5826
E-mail: eca-info@un.org
………………………………………………………………………………………………………………………………………………………………….. BETTY MARCHING TOWARDS PLATINUM: REMAINING STRONG AND FOCUSED STILL
Courage, as against foolhardiness, is a rare endowment in human beings. The fortitude with which a person confronts life’s adversities is a mark of spectacular feat. Surmounting these challenges and turning the lessons of a bitter, near-fatal experience to an advantage of immense benefits for humanity is the most sublime of all engagements. That the triumph becomes a perennial reason for service inspires.
Combining modesty, honesty and an uncommon, unfailing mental acuity is special evidence of a life shaped with discipline, focus and divine munificence. Only a few mortals enjoy this grace till old age. A fewer number still view living as an art which must be appreciated with creative essence.
My Adorable Betty, I have always counted myself lucky since our paths crossed over four decades ago. I could not have asked for a better partner. I live with no regrets, whatsoever. Having a friend, wife, confidant, unsparing critic and supporter, loving mother of our children, Fond ‘Gran’ of our grandchildren all rolled into a personality, has been an exceptional blessing to me. And so, blessed am I among lucky men. I cannot ask for more.
As you take steady and confident steps towards the attainment of the Platinum next year, in less than 365 days from today, I fervently pray that you continue, in good health, to impact on the society, positively. The girl-child has an unyielding and vociferous advocate in you. Women, especially widows, rely on your tremendous inputs to make life meaningful. Those afflicted with the scourge of cancer see in you a courageous exemplar, enabler, who wrestled the menace to a standstill.
The defeat of this monster has been resounding in the last twenty-five years. This feat and your ceaseless advocacy for gender representation based on equity and justice have attracted global accolades, and deservedly so. That you remain strong and healthy is not a product of mere wishful thinking. Rigorous adherence to principles of healthy living, modesty, honesty and an effacing yet audacious disposition to existential issues are the ingredients which have molded these pristine qualities into an inspiring entity which you have become among your numerous admirers. Even your adversaries acknowledge your relentless and indomitable spirit.
I celebrate you, my Adorable Betty, at 69. I will join you in the particular strides in the days ahead on a march to an assured destination. We shall have a greater cause to celebrate when you will be 70 years young next year.
Congratulations, Darlin’ me.
Arakunrin Oluwarotimi O. Akeredolu, SAN
Governor, Ondo State
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